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![handle is hein.congrecreports/crptxahpw0001 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
119TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 119-254
SMALL BUSINESS INVESTOR CAPITAL ACCESS ACT
SEPTEMBER 8, 2025.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HILL of Arkansas, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 3673]
The Committee on Financial Services, to whom was referred the
bill (H.R. 3673) to amend the Investment Advisers Act of 1940 to
increase the exemption from registration threshold for certain in-
vestment advisers of private funds to reflect the change in infla-
tion, having considered the same, reports favorably thereon with an
amendment and recommends that the bill as amended do pass.
CONTENTS
Page
Purpose and Sum m ary ............................................................................................ 2
Background and Need for Legislation .................................................................... 2
Com m ittee Consideration ........................................................................................ 2
R elated H earings ..................................................................................................... 3
C om m ittee V otes ..................................................................................................... 3
Com m ittee Oversight Findings ............................................................................... 6
Perform ance Goals and Objectives ......................................................................... 6
Com m ittee Cost Estim ate ....................................................................................... 6
New Budget Authority and CBO Cost Estimate ................................................... 6
Unfunded M andates Statem ent .............................................................................. 6
E arm ark Statem ent ................................................................................................. 6
Federal Advisory Committee Act Statement ......................................................... 7
Applicability to the Legislative Branch ................................................................. 7
Duplication of Federal Program s ............................................................................ 7
Section-by-Section Analysis of the Legislation ...................................................... 7
Changes in Existing Law Made by the Bill, as Reported ................. 7
Documents included by Unanimous Consent ........................................................ 20
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Small Business Investor Capital Access Act.
59-006](ViewImageLocal?handle=hein.congrecreports/crptxahpw0001&div=1&collection=&method=preview&ext=.png&size=3)