; (4) the benefits to the Commission in terms of improved ability to monitor securities markets, assess the potential outcomes of regulatory alternatives, and enhance investor participation in corporate governance and promote capital formation; and (5) the effectiveness of standards in the United States for interactive filing data relative to the standards of international counterparts. 4. Report to Congress Not later than one year after the date of enactment of this Act, the Commission shall provide the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report regarding— (1) the progress in implementing XBRL reporting within the Commission; (2) the use of XBRL data by Commission officials; (3) the use of XBRL data by investors; (4) the results of the analysis required by section 3; and (5) any additional information the Commission considers relevant for increasing transparency, decreasing costs, and increasing efficiency of regulatory filings with the Commission. 5. Definitions As used in this Act, the terms Commission , emerging growth company , issuer , and securities laws have the meanings given such terms in section 3 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c ).