H.R. 3673 Reported by committee Finance and Financial Sector

Small Business Investor Capital Access Act

To amend the Investment Advisers Act of 1940 to increase the exemption from registration threshold for certain investment advisers of private funds to reflect the change in inflation.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Barr, Andy [R-KY-6] Introduced June 3, 2025 Cosponsors 1 (1 D) Latest action September 8, 2025

Summary

Small Business Investor Capital Access Act
This bill requires the Securities and Exchange Commission (SEC) to adjust annually for inflation the dollar threshold of an exemption from registration requirements for investment advisors of private funds. Currently, investment advisors of private funds of less than $150 million in assets under management are exempt. The bill requires the SEC to adjust that amount annually based on the change in the Consumer Price Index.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Sep 8, 2025 Placed on the Union Calendar, Calendar No. 211.
  2. Sep 8, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-254.
  3. Jul 22, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 2.
  4. Jul 22, 2025 Committee Consideration and Mark-up Session Held
  5. Jun 3, 2025 Referred to the House Committee on Financial Services.
  6. Jun 3, 2025 Introduced in House

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