Small Business Investor Capital Access Act
Summary
What This Bill Does
The bill exempts section 2 adds an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers, exempts earlier version of Section 2 that would add an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers based on CPI changes from 2010, and exempts updated version of Section 2 that increases the private fund adviser exemption threshold from $150 million to $175 million and requires the SEC to adjust this threshold every 5 years based on CPI. It relies on exemptions and definition changes. The main policy areas are Finance, Financial Services, and Foreign Policy.
Who Benefits and How
Venture capital fund managers could face lower compliance burdens, Private equity fund managers could face lower compliance burdens, and Private fund investment advisers managing under $150M AUM could face lower compliance burdens.
Who Bears the Burden and How
Securities and Exchange Commission would take on compliance duties and Private fund investors could face increased risk.
Key Provisions
- Exempts section 2 adds an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers.
- Exempts earlier version of Section 2 that would add an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers based on CPI changes from 2010...
- Exempts updated version of Section 2 that increases the private fund adviser exemption threshold from $150 million to $175 million and requires the SEC to adjust this threshold every 5 years based on CPI.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill exempts section 2 adds an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers, exempts earlier version of Section 2 that would add an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers based on CPI changes from 2010, and exempts updated version of Section 2 that increases the private fund adviser exemption threshold from $150 million to $175 million and requires the SEC to adjust this threshold every 5 years based on CPI.
Key Policy Areas
Finance, Financial Services, Foreign Policy
Primary Purpose
The bill exempts section 2 adds an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers, exempts earlier version of Section 2 that would add an inflation adjustment provision requiring the SEC to adjust the $150 million AUM exemption threshold for private fund advisers based on CPI changes from 2010, and exempts updated version of Section 2 that increases the private fund adviser exemption threshold from $150 million to $175 million and requires the SEC to adjust this threshold every 5 years based on CPI.
Policy Domains
Whole bill
Identified Gains
- Venture capital fund managers
- Private equity fund managers
- Private fund investment advisers managing under $150M AUM
- Private fund investment advisers managing $150M-$175M AUM
- Hedge fund managers with smaller AUM
Identified Costs
- Securities and Exchange Commission
- Private fund investors
Sponsors
Legislative Progress
ReportedReported with an amendment, committed to the Committee of the …
Placed on the Union Calendar, Calendar No. 211.
Reported (Amended) by the Committee on Financial Services. H. Rept. …
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: …
Introduced in House
Referred to the House Committee on Financial Services.
Mr. Barr (for himself and Ms. Velázquez) introduced the following …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Hedge fund managers with smaller AUM, Private equity fund managers, Private fund investment advisers managing $150M-$175M AUM
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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