Small Business Investor Capital Access Act
Latest action · Sep 8, 2025 Placed on the Union Calendar, Calendar No. 211.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 3, 2025
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jun 3, 2025.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Nydia M. Velázquez | Original | Jun 3, 2025 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jun 3, 2025Markup Jul 22, 2025Reported Sep 8, 2025 |
Actions 6
Everything that happened, newest first.
- Sep 8, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-254.
- Sep 8, 2025Placed on the Union Calendar, Calendar No. 211.
- Jul 22, 2025Committee Consideration and Mark-up Session Held
- Jul 22, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 2.
- Jun 3, 2025Introduced in House
- Jun 3, 2025Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Lists H2419H.R. 3673–3698 | — | Jun 3, 2025 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Oct 31, 2025H.R. 3673, Small Business Investor Capital Access ActAs reported by the House Committee on Financial Services on September 8, 2025
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 171, no. 94, June 3, 2025, page H2419.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R48885 | The Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025 (H.R. 3383) | Report | Mar 24, 2026 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 3880 | Small Business Investor Capital Access Act | Related bill | Feb 12, 2026 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
- Short Title(s) as Introduced
- Small Business Investor Capital Access Act
- Short Title(s) as Reported to House
- Small Business Investor Capital Access Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 2
Each version as it was printed, newest first.
- Sep 8, 2025Reported in House
- Jun 3, 2025Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
