A bill to amend the Securities Act of 1933.

Amends the Securities Act of 1933 to include the securities of territories of the United States, the District of Columbia, any State of the United States, any political subdivision of a State of territory, and any public instrumentality of one or more States or territories among securities covered by the terms of this Act. Permits the Securities and Exchange Commission to exempt by rule or regulation such securities if it finds that the enforcement of this title with respect to such securities is not necessary in the public interest and for the protection of investors. Includes under the provisions of this Act any security which is an industrial development bond.