The "Access to Small Business Investor Capital Act" aims to modify how registered investment companies report their fees and expenses. This legislation specifically permits these companies to omit certain indirect fees from the calculation of their "acquired fund fees and expenses" on registration statements. Under this bill, a registered investment company may exclude fees and expenses incurred indirectly as a result of investing in shares of one or more business development companies (BDCs) . This exclusion applies to the fee table disclosure found on Forms N-1A, N-2, and N-3, which are used for registering investment companies with the Securities and Exchange Commission. The change is intended to streamline reporting requirements and potentially affect how investment costs are presented to investors.