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U.S. GOVERNMENT
INFORMATION 4
119TH CONGRESS REPORT
2d Session J HOUSE OF REPRESENTATIVES 119-525
SMALL BUSINESS RELIEF ACT
FEBRUARY 25, 2026.-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
together with
MINORITY VIEWS
[To accompany H.R. 4130]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4130) to amend the Securities Exchange Act of 1934 to
exclude qualified institutional buyers and institutional accredited
investors when calculating holders of a security for purposes of the
mandatory registration threshold under such Act, and for other
purposes, 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
M inority V iew s ........................................................................................................ 19
69-006](ViewImageLocal?handle=hein.congrecreports/crptxaibw0001&div=1&collection=&method=preview&ext=.png&size=3)