Expanding WKSI Eligibility Act
USA119th CongressHR-4430| House
| Updated: 12/2/2025
Bryan Steil
Republican Representative
Wisconsin
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
The "Expanding WKSI Eligibility Act" significantly revises the criteria for an issuer to be designated as a well-known seasoned issuer (WKSI) under federal securities laws. It specifically lowers the required aggregate market value of voting and non-voting common equity held by non-affiliates from the current $700,000,000 to $400,000,000 , making more companies eligible for this status. This change is intended to streamline capital-raising processes for a broader range of issuers by allowing them to benefit from the regulatory flexibilities afforded to WKSIs. Furthermore, the legislation mandates that the Securities and Exchange Commission (SEC) publish an annual report detailing the total number of applications submitted and subsequently withdrawn by entities seeking a determination to meet the WKSI definition.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 2.
Committee Consideration and Mark-up Session Held
Placed on the Union Calendar, Calendar No. 204.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-247.
Mr. Davidson moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H4952-4953)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4430.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4952)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4952)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Business investment and capitalCorporate finance and managementSecurities
Expanding WKSI Eligibility Act
USA119th CongressHR-4430| House
| Updated: 12/2/2025
The "Expanding WKSI Eligibility Act" significantly revises the criteria for an issuer to be designated as a well-known seasoned issuer (WKSI) under federal securities laws. It specifically lowers the required aggregate market value of voting and non-voting common equity held by non-affiliates from the current $700,000,000 to $400,000,000 , making more companies eligible for this status. This change is intended to streamline capital-raising processes for a broader range of issuers by allowing them to benefit from the regulatory flexibilities afforded to WKSIs. Furthermore, the legislation mandates that the Securities and Exchange Commission (SEC) publish an annual report detailing the total number of applications submitted and subsequently withdrawn by entities seeking a determination to meet the WKSI definition.
Suggested Questions
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 2.
Committee Consideration and Mark-up Session Held
Placed on the Union Calendar, Calendar No. 204.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-247.
Mr. Davidson moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H4952-4953)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4430.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4952)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4952)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bryan Steil
Republican Representative
Wisconsin
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
Related Bills
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Business investment and capitalCorporate finance and managementSecurities