H.R. 5054: Small Company Disclosure Simplification Act of 2018

115th Congress

To provide an exemption for emerging growth companies and other smaller companies from the requirements to use Extensible Business Reporting Language (XBRL) for financial statements and other periodic reporting, and for other purposes.

Sponsor: Rep. David Kustoff — R — TN

Small Company Disclosure Simplification Act of 2018 This bill exempts from requirements to use Extensible Business Reporting Language (XBRL) for Securities and Exchange Commission (SEC) filings: (1) emerging growth companies (in general, newly public companies with revenues below a specified threshold); and (2) on a temporary basis, certain other smaller companies. The SEC must conduct an analysis of the costs and benefits of XBRL requirements with respect to such companies. The SEC must rep...

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