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HR 3645 · 119th Congress · Finance and Financial Sector

ACCESS Act of 2025

Introduced May 29, 2025 Latest action July 15, 2025 4 cosponsors

Sponsor

Latest action

Placed on the Union Calendar, Calendar No. 166.

Action timeline

Every recorded action on this bill, newest first. Stage badges color-code the legislative path.

Jul 15, 2025
committee Reported (Amended) by the Committee on Financial Services. H. Rept. 119-203.
Financial Services Committee
Jul 15, 2025
other Placed on the Union Calendar, Calendar No. 166.
Jun 10, 2025
committee Committee Consideration and Mark-up Session Held
Financial Services Committee
Jun 10, 2025
committee Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
Financial Services Committee
May 29, 2025
introduced Introduced in House

Text versions

Each stage of the bill — official text published by GPO. Click any format to read on congress.gov / govinfo.

Jul 15, 2025 Reported in House
XML
May 29, 2025 Introduced in House
XML

CRS summaries

Plain-English summaries written by the Congressional Research Service — neutral, nonpartisan staff who summarize bills as they advance through stages. The authoritative description of what each version of the bill does.

via Congressional Research Service · published through congress.gov

Changelog
ⓘ

How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.

  1. ih / is — Introduced in House / Senate. First filed version.
  2. rfh / rfs — Referred to a committee for review.
  3. rh / rs — Reported back by the committee to the floor (often with amendments — this is where most language changes happen).
  4. pcs / pch — Placed on Calendar for floor consideration.
  5. eh / es — Engrossed. Passed by the originating chamber. Text is now what was actually voted on.
  6. rdh / rds — Received by the other chamber.
  7. eah / eas — Engrossed Amendment. The other chamber passed an amended version.
  8. ath / ats — Agreed to. Both chambers settled on the same text.
  9. enr — Enrolled. Final reconciled text, sent to the President.
  10. pl — Public Law. Signed by the President. It's now law.
  11. pp — Public Print. Official printing post-enactment.

Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.

Line-level diff between text versions of this bill — what actually changed at each legislative stage.

→
+50 −7 23 unchanged
--- Introduced (House)
+++ Reported (House)
@@ -1,11 +1,14 @@
[From the U.S. Government Publishing Office]
-[H.R. 3645 Introduced in House (IH)]
+[H.R. 3645 Reported in House (RH)]
<DOC>
+Union Calendar No. 166
119th CONGRESS
1st Session
H. R. 3645
+
+[Report No. 119-203]
To amend the Securities Act of 1933 to raise the offering amount
threshold for when issuers using the crowdfunding exemption are
@@ -21,6 +24,15 @@
Mr. Meuser (for himself, Ms. De La Cruz, Mrs. McClain, Mr. Nunn of
Iowa, and Ms. Salazar) introduced the following bill; which was
referred to the Committee on Financial Services
+
+July 15, 2025
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
+[Strike out all after the enacting clause and insert the part printed
+in italic]
+[For text of introduced bill, see copy of bill as introduced on May 29,
+2025]
_______________________________________________________________________
@@ -42,13 +54,44 @@
SEC. 2. OFFERING THRESHOLD FOR REVIEWS BY PUBLIC ACCOUNTANT.
-(a) In General.--Section 4A(b)(1)(D) of the Securities Act of 1933
-(15 U.S.C. 77d-1(b)(1)(D)) is amended by striking ``$100,000'' each
-place such term appears and inserting ``$500,000''.
-(b) Technical Correction.--Section 4A of the Securities Act of 1933
-(15 U.S.C. 77d-1) is amended--
+(a) In General.--Section 4A of the Securities Act of 1933 (15
+U.S.C. 77d-1) is amended--
+(1) in subsection (b)(1)(D), by striking ``$100,000'' each
+place such term appears and inserting ``$250,000''; and
+(2) by adding at the end the following:
+``(i) Discretion to Adjust Amount.--The Commission may increase the
+amount specified in subsections (b)(1)(D)(i) and (b)(1)(D)(ii) from
+$250,000 to an amount not greater than $400,000 upon the recommendation
+of the Office of the Advocate for Small Business Capital Formation and
+the Office of the Investor Advocate.''.
+(b) Technical Corrections.--Section 4A of the Securities Act of
+1933 (15 U.S.C. 77d-1) is amended--
(1) by striking ``section 4(6)'' each place such term
appears and inserting ``section 4(a)(6)''; and
(2) by striking ``section 4(6)(B)'' each place such term
appears and inserting ``section 4(a)(6)(B)''.
-<all>
+Union Calendar No. 166
+
+119th CONGRESS
+
+1st Session
+
+H. R. 3645
+
+[Report No. 119-203]
+
+_______________________________________________________________________
+
+A BILL
+
+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.
+
+_______________________________________________________________________
+
+July 15, 2025
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed

Lobbying activity

Organizations whose LDA filings reference this bill, ranked by filing count. Position not disclosed — LDA does not require lobbyists to report support / oppose / monitor. Bill-number references can be stale (lobbyists sometimes copy text year-over-year), so verify against the filing description.

CHAMBER OF COMMERCE OF THE U.S.A.
FIN
4
filings · 2026 Q3
AMERICANS FOR FINANCIAL REFORM
FIN
1
filings · 2025 Q2

via Senate LDA · self-reported quarterly. Filing count = filings mentioning this bill (no position required), not money spent on it. Click a client to see all bills they've filed on.

Cosponsors (4)

Members who signed on to support this bill.

De La Cruz R
McClain R
Nunn R
Salazar R