To amend the Securities Act of 1933 to raise the offering amount threshold for when issuers using the crowdfunding exemption are required to file financial statements reviewed by a public accountant who is independent of the issuer, and for other purposes.
Sponsors
Legislative Progress
ReportedReported with an amendment, committed to the Committee of the …
Mr. Meuser (for himself, Ms. De La Cruz, Mrs. McClain, …
Summary
What This Bill Does
Increases the threshold for when crowdfunding issuers must obtain financial statement review by a public accountant from 100K to 250K. SEC may further increase to 400K.
Who Benefits and How
- Small crowdfunding issuers save costs on CPA reviews for smaller offerings
- Small businesses face lower barriers to crowdfunding capital
- Entrepreneurs can raise more without accountant review requirements
Who Bears the Burden and How
- Investors lose some due diligence protection on mid-sized offerings
- SEC may increase threshold further based on advocate recommendations
Key Provisions
- Threshold raised from 100K to 250K for CPA review
- SEC may increase to 400K based on advocate recommendations
- Requires recommendation from both Small Business and Investor advocates
- Technical corrections to section references
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Raises crowdfunding offering threshold requiring CPA review from 100K to 250K
Policy Domains
Legislative Strategy
"Reduce crowdfunding costs for small issuers by raising review threshold"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → SEC
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology