Small Business Investor Capital Access Act | ChamberLight

IN COMMITTEE· 119TH CONGRESS

Senate BillS 3880Finance and Financial Sector

Small Business Investor Capital Access Act

INTRO FEB 12· LAST ACTION FEB 12

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Became Law

WHAT THE BILL DOES

AI-written

This bill matters because it changes how many investment firms are regulated. If it becomes law, it will reduce the number of private fund managers who need to register with the Securities and Exchange Commission. This could make it easier and less costly for smaller investment funds to operate, potentially encouraging more capital flow into small businesses.

If the bill doesn't pass, the current $150 million threshold remains, and more private fund managers might be required to register as their assets grow due to inflation, even if their real-dollar size hasn't significantly increased. The bill's inflation adjustment mechanism is also important because it prevents the regulatory burden from unintentionally expanding over time as inflation erodes the value of the fixed dollar threshold.

KEY PROVISIONS

2AI-extracted

PROVISION 01

Increases the asset threshold for private fund advisers to qualify for an exemption from SEC registration from $150 million to $175 million.

This means more private fund managers will not be required to register with the SEC, potentially reducing their regulatory compliance costs.

PROVISION 02

Requires the Securities and Exchange Commission (SEC) to adjust this dollar amount every five years based on the Consumer Price Index (CPI).

This provision ensures the exemption threshold keeps pace with inflation, preventing it from losing its real value over time and unintentionally bringing more advisers under SEC registration.

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ACTION TIMELINE

2 EVENTS

FEB 12

Introduced in Senate

INTROREFERRAL

FEB 12

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

INTROREFERRAL

BILL INFO

TypeSenate Bill

NumberS 3880

Congress119th

StatusIn Committee

IntroducedFeb 12, 2026

Last actionFeb 12, 2026

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IN COMMITTEE· 119TH CONGRESS · BANKING, HOUSING, AND URBAN AFFAIRS COMMITTEE · INTRODUCED FEB 12, 2026

Senate BillS 3880Finance and Financial Sector

Small Business Investor Capital Access Act

INTRODUCED FEB 12, 2026· LAST ACTION FEB 12, 2026

PASSAGE CHANCES

—%

READING

1 min

COSPONSORS

COMPLEXITY

Moderate

Call my reps Congress.gov

LEGISLATIVE PROGRESS

STEP 2 OF 8

Introduced

In Committee

Reported

Passed Senate

Passed House

Conference

To President

Became Law

Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law

WHAT THE BILL DOES

AI-written

KEY PROVISIONS

AI-extracted

high

Increases the asset threshold for private fund advisers to qualify for an exemption from SEC registration from $150 million to $175 million.

This means more private fund managers will not be required to register with the SEC, potentially reducing their regulatory compliance costs.

med

Requires the Securities and Exchange Commission (SEC) to adjust this dollar amount every five years based on the Consumer Price Index (CPI).

This provision ensures the exemption threshold keeps pace with inflation, preventing it from losing its real value over time and unintentionally bringing more advisers under SEC registration.

DEADLINES & DATES

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Every 5 years

The Commission shall, every 5 years, adjust the dollar amount under paragraph (1) to reflect the change in the Consumer Price Index.

GLOSSARY

AI-written

Investment Advisers Act of 1940: A federal law that regulates the activities of investment advisers, requiring many to register with the Securities and Exchange Commission and adhere to certain rules designed to protect investors.
Private fund adviser: A person or company that provides investment advice to privately offered investment funds, such as hedge funds or private equity funds, which are typically not available to the general public.
Exemption: A specific legal exception that allows certain individuals or entities to avoid a requirement that generally applies to others (in this case, an exemption from registering with the SEC).
Securities and Exchange Commission (SEC): A U.S. government agency responsible for protecting investors, maintaining fair and orderly functioning of securities markets, and facilitating capital formation.
Consumer Price Index (CPI): A measure that examines the weighted average of prices of a basket of consumer goods and services, used as a key indicator of inflation and changes in the cost of living.

ACTION TIMELINE

2 EVENTS

FEB 12

Introduced in Senate

INTROREFERRAL

FEB 12

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

INTROREFERRAL

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Banking, Housing, and Urban Affairs CommitteeReferred

Feb 12, 2026

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Small Business Investor Capital Access Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

SPONSORSHIP

ACTION TIMELINE

BILL INFO

READER REACTIONS

Discussion

Small Business Investor Capital Access Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

DEADLINES & DATES

GLOSSARY

ACTION TIMELINE

SPONSORS

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