Legis Daily

Small Business Investor Capital Access Act

USA119th CongressS-3880| Senate 
| Updated: 2/12/2026
Mike Rounds

Mike Rounds

Republican Senator

South Dakota

Cosponsors (1)
Ruben Gallego (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This legislation, known as the Small Business Investor Capital Access Act, amends the Investment Advisers Act of 1940 to adjust the exemption criteria for certain private fund advisers. It increases the asset under management (AUM) threshold for these exempt advisers from $150 million to $175 million, aiming to reduce regulatory burdens for a broader range of smaller private fund managers. Additionally, the bill mandates that the Commission periodically adjust this dollar amount for inflation every five years. This adjustment will be based on the Consumer Price Index for All Urban Consumers, ensuring the threshold's value remains relevant and stable over time.
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Timeline

Bill from Previous Congress

S 117-3961
Access to Small Business Investor Capital Act

Bill from Previous Congress

S 118-4890
Access to Small Business Investor Capital Act
Jun 24, 2025

Latest Companion Bill Action

HR 119-2225
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 12, 2026
Introduced in Senate
Feb 12, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 117-3961
    Access to Small Business Investor Capital Act


  • Bill from Previous Congress

    S 118-4890
    Access to Small Business Investor Capital Act


  • June 24, 2025

    Latest Companion Bill Action

    HR 119-2225
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • February 12, 2026
    Introduced in Senate


  • February 12, 2026
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

Small Business Investor Capital Access Act

USA119th CongressS-3880| Senate 
| Updated: 2/12/2026
This legislation, known as the Small Business Investor Capital Access Act, amends the Investment Advisers Act of 1940 to adjust the exemption criteria for certain private fund advisers. It increases the asset under management (AUM) threshold for these exempt advisers from $150 million to $175 million, aiming to reduce regulatory burdens for a broader range of smaller private fund managers. Additionally, the bill mandates that the Commission periodically adjust this dollar amount for inflation every five years. This adjustment will be based on the Consumer Price Index for All Urban Consumers, ensuring the threshold's value remains relevant and stable over time.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 117-3961
Access to Small Business Investor Capital Act

Bill from Previous Congress

S 118-4890
Access to Small Business Investor Capital Act
Jun 24, 2025

Latest Companion Bill Action

HR 119-2225
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 12, 2026
Introduced in Senate
Feb 12, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    S 117-3961
    Access to Small Business Investor Capital Act


  • Bill from Previous Congress

    S 118-4890
    Access to Small Business Investor Capital Act


  • June 24, 2025

    Latest Companion Bill Action

    HR 119-2225
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • February 12, 2026
    Introduced in Senate


  • February 12, 2026
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mike Rounds

Mike Rounds

Republican Senator

South Dakota

Cosponsors (1)
Ruben Gallego (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted