Bills · HR 3673
REPORTED· 119TH CONGRESS
House BillHR 3673Inflation and pricesLicensing and registrations
Small Business Investor Capital Access Act
INTRO JUN 3· LAST ACTION SEP 8
READING
2MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Reported, not passed
LEGISLATIVE PROGRESS
STEP 3 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it changes the level of government oversight for a specific group of money managers. By raising the amount of money an adviser can manage before needing to register from $150 million to $175 million, and then regularly adjusting that amount for inflation, it means more advisers will operate with fewer federal regulations.
If this bill becomes law, it could reduce compliance costs for many private fund managers, potentially making it easier for them to invest in small businesses and startups, as suggested by the bill's title. If it doesn't pass, the current $150 million threshold remains, and over time, inflation will cause that limit to represent a smaller real amount of managed assets, potentially forcing more advisers into registration even without a real increase in their fund size.
KEY PROVISIONS
2AI-extractedPROVISION 01
Increases the asset threshold for exempt reporting investment advisers from $150,000,000 to $175,000,000.
This means more investment advisers managing private funds will be exempt from full SEC registration, reducing their regulatory burden.
PROVISION 02
Requires the Commission to adjust this dollar amount every five years based on the Consumer Price Index for All Urban Consumers.
This ensures the exemption threshold keeps pace with inflation, preventing its real value from eroding over time.
SPONSORSHIP
1 + 1
R· Kentucky
YRS IN OFFICE
13
BILLS LED
60
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 1 REP 0 IND 0
ACTION TIMELINE
6 EVENTSSEP 8
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-254.
SEP 8
Placed on the Union Calendar, Calendar No. 211.
JUL 22
Committee Consideration and Mark-up Session Held
JUL 22
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 2.
BILL INFO
TypeHouse Bill
NumberHR 3673
Congress119th
StatusReported
IntroducedJun 3, 2025
Last actionSep 8, 2025
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REPORTED· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED JUN 3, 2025
House BillHR 3673Inflation and pricesLicensing and registrations
Small Business Investor Capital Access Act
INTRODUCED JUN 3, 2025· LAST ACTION SEP 8, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
1
COMPLEXITY
Moderate
