Sec. 101. DEFINITIONS
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## SEC. 101 DEFINITIONS ###
(a)Securities Act of 1933 Section 2(a) of the Securities Act of 1933 (15 U.S.C. 77b(a)) is amended by adding at the end the following: > > #### “(19) > > The term ‘**emerging growth company**’ means an issuer that had total annual gross revenues of less than $1,000,000,000 (as such amount is indexed for inflation every 5 years by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics, setting the threshold to the nearest 1,000,000) during its most recently completed fiscal year. An issuer that is an emerging growth company as of the first day of that fiscal year shall continue to be deemed an emerging growth company until the earliest of— > > > ##### “(A) > > the last day of the fiscal year of the issuer during which it had total annual gross revenues of $1,000,000,000 (as such amount is indexed for inflation every 5 years by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics, setting the threshold to the nearest 1,000,000) or more; > > > ##### “(B) > > the last day of the fiscal year of the issuer following the fifth anniversary of the date of the first sale of common equity securities of the issuer pursuant to an effective registration statement under this title; > > > ##### “(C) > > the date on which such issuer has, during the previous 3-year period, issued more than $1,000,000,000 in non-convertible debt; or > > > ##### “(D) > > the date on which such issuer is deemed to be a ‘**large accelerated filer**’, as defined in section 240.12b-2 of title 17, Code of Federal Regulations, or any successor thereto.” > . ###
(b)Securities Exchange Act of 1934 Section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)) is amended— ####
(1)by redesignating paragraph (77), as added by section 941(a) of the Investor Protection and Securities Reform Act of 2010 (Public Law 111-203, 124 Stat. 1890), as paragraph (79); and ####
(2)by adding at the end the following: > > #### “(80) Emerging growth company > > The term ‘**emerging growth company**’ means an issuer that had total annual gross revenues of less than $1,000,000,000 (as such amount is indexed for inflation every 5 years by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics, setting the threshold to the nearest 1,000,000) during its most recently completed fiscal year. An issuer that is an emerging growth company as of the first day of that fiscal year shall continue to be deemed an emerging growth company until the earliest of— > > > ##### “(A) > > the last day of the fiscal year of the issuer during which it had total annual gross revenues of $1,000,000,000 (as such amount is indexed for inflation every 5 years by the Commission to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics, setting the threshold to the nearest 1,000,000) or more; > > > ##### “(B) > > the last day of the fiscal year of the issuer following the fifth anniversary of the date of the first sale of common equity securities of the issuer pursuant to an effective registration statement under the Securities Act of 1933; > > > ##### “(C) > > the date on which such issuer has, during the previous 3-year period, issued more than $1,000,000,000 in non-convertible debt; or > > > ##### “(D) > > the date on which such issuer is deemed to be a ‘**large accelerated filer**’, as defined in section 240.12b-2 of title 17, Code of Federal Regulations, or any successor thereto.” > . ###
(c)Other Definitions **[**[15 U.S.C. 78c note](/us/usc/t15/s78c)**]** As used in this title, the following definitions shall apply: ####
(1)Commission The term “**Commission**” means the Securities and Exchange Commission. ####
(2)Initial public offering date The term “**initial public offering date**” means the date of the first sale of common equity securities of an issuer pursuant to an effective registration statement under the Securities Act of 1933. ###
(d)Effective Date **[**[15 U.S.C. 77b note](/us/usc/t15/s77b)**]** Notwithstanding section 2(a)(19) of the Securities Act of 1933 and section 3(a)(80) of the Securities Exchange Act of 1934, an issuer shall not be an emerging growth company for purposes of such Acts if the first sale of common equity securities of such issuer pursuant to an effective registration statement under the Securities Act of 1933 occurred on or before December 8, 2011.
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- Pub. L. 111-203
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