This legislation directs the Comptroller General of the United States to conduct a comprehensive study on the expenses faced by small and medium-sized companies pursuing Initial Public Offerings (IPOs) . The study, to be performed in consultation with the Securities and Exchange Commission and the Financial Industry Regulatory Authority, will delve into both the direct and indirect costs associated with an IPO, including fees for underwriters, accountants, and other advisors, as well as compliance with federal and state securities laws. The Comptroller General is tasked with comparing these IPO costs against those of alternative financing methods and assessing their impact on capital formation and the availability of public securities for retail investors . The study will also analyze historical trends in IPOs, examining how costs have evolved for various service providers, the number of active underwriters, and the impact of litigation on public companies. Within 360 days of enactment, a detailed report containing all findings, determinations, and any administrative or legislative recommendations must be submitted to Congress.