ACCESS Act of 2025

Bill: 119-hr-3645
Sponsor: full_name: Rep. Meuser, Daniel [R-PA-9]
Introduced: 2025-05-29
Policy area: Finance and Financial Sector
Subjects: Business records

Corporate finance and management

Financial services and investments
Latest action: action_date: 2025-07-15
text: Placed on the Union Calendar, Calendar No. 166.

Summaries:
action_date: 2025-07-15
action_desc: Reported to House
text: <p><strong>Amendment for Crowdfunding Capital Enhancement and Small-business Support Act of 2025 or the ACCESS Act of 2025 </strong></p><p>This bill expands the exemption from certain disclosures applicable to crowdfunding issuers with specified target offering amounts. (Crowdfunding is used to raise capital through a large number of individuals investing potentially small amounts of money.) Under current law, crowdfunding issuers that have target offering amounts of $100,000 or less are not required to make available financial statements reviewed by an independent public accountant. The bill increases that amount to $250,000 and allows the Securities and Exchange Commission to increase this amount to no more than $400,000 upon recommendation of the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate.</p>

tv_txt: IB Union Calendar No. 166 119th CONGRESS 1st Session H. R. 3645 [Report No. 119–203] IN THE HOUSE OF REPRESENTATIVES May 29, 2025 Mr. Meuser (for himself, Ms. De La Cruz , Mrs. McClain , Mr. Nunn of Iowa , and Ms. Salazar ) introduced the following bill; which was referred to the Committee on Financial Services July 15, 2025 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on May 29, 2025 A BILL To amend the Securities Act of 1933 to raise the offering amount threshold for when issuers using the crowdfunding exemption are required to file financial statements reviewed by a public accountant who is independent of the issuer, and for other purposes.

1. Short title This Act may be cited as the Amendment for Crowdfunding Capital Enhancement and Small-business Support Act of 2025 or the ACCESS Act of 2025 . 2. Offering threshold for reviews by public accountant (a) In general Section 4A of the Securities Act of 1933 ( 15 U.S.C. 77d–1 ) is amended— (1) in subsection (b)(1)(D), by striking $100,000 each place such term appears and inserting $250,000 ; and (2) by adding at the end the following: (i) Discretion to adjust amount The Commission may increase the amount specified in subsections (b)(1)(D)(i) and (b)(1)(D)(ii) from $250,000 to an amount not greater than $400,000 upon the recommendation of the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate. . (b) Technical corrections Section 4A of the Securities Act of 1933 ( 15 U.S.C. 77d–1 ) is amended— (1) by striking section 4(6) each place such term appears and inserting section 4(a)(6) ; and (2) by striking section 4(6)(B) each place such term appears and inserting section 4(a)(6)(B) .

July 15, 2025 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

tv_txt: I 119th CONGRESS 1st Session H. R. 3645 IN THE HOUSE OF REPRESENTATIVES May 29, 2025 Mr. Meuser (for himself, Ms. De La Cruz , Mrs. McClain , Mr. Nunn of Iowa , and Ms. Salazar ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Act of 1933 to raise the offering amount threshold for when issuers using the crowdfunding exemption are required to file financial statements reviewed by a public accountant who is independent of the issuer, and for other purposes.

1. Short title This Act may be cited as the Amendment for Crowdfunding Capital Enhancement and Small-business Support Act of 2025 or the ACCESS Act of 2025 . 2. Offering threshold for reviews by public accountant (a) In general Section 4A(b)(1)(D) of the Securities Act of 1933 ( 15 U.S.C. 77d–1(b)(1)(D) ) is amended by striking $100,000 each place such term appears and inserting $500,000 . (b) Technical correction Section 4A of the Securities Act of 1933 ( 15 U.S.C. 77d–1 ) is amended— (1) by striking section 4(6) each place such term appears and inserting section 4(a)(6) ; and (2) by striking section 4(6)(B) each place such term appears and inserting section 4(a)(6)(B) .