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HR 3673 · 119th Congress · Finance and Financial Sector

Small Business Investor Capital Access Act

Introduced June 03, 2025 Latest action September 08, 2025 1 cosponsor

Sponsor

Latest action

Placed on the Union Calendar, Calendar No. 211.

Action timeline

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

Sep 08, 2025
committee Reported (Amended) by the Committee on Financial Services. H. Rept. 119-254.
Financial Services Committee
Sep 08, 2025
other Placed on the Union Calendar, Calendar No. 211.
Jul 22, 2025
committee Committee Consideration and Mark-up Session Held
Financial Services Committee
Jul 22, 2025
committee Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 2.
Financial Services Committee
Jun 03, 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.

Sep 08, 2025 Reported in House
XML
Jun 03, 2025 Introduced in House
XML

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.

→
+47 −16 19 unchanged
--- Introduced (House)
+++ Reported (House)
@@ -1,11 +1,14 @@
[From the U.S. Government Publishing Office]
-[H.R. 3673 Introduced in House (IH)]
+[H.R. 3673 Reported in House (RH)]
<DOC>
+Union Calendar No. 211
119th CONGRESS
1st Session
H. R. 3673
+
+[Report No. 119-254]
To amend the Investment Advisers Act of 1940 to increase the exemption
from registration threshold for certain investment advisers of private
@@ -19,6 +22,15 @@
Mr. Barr (for himself and Ms. Velazquez) introduced the following bill;
which was referred to the Committee on Financial Services
+
+September 8, 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 June 3,
+2025]
_______________________________________________________________________
@@ -40,18 +52,37 @@
INVESTMENT ADVISERS OF PRIVATE FUNDS.
Section 203(m) of the Investment Advisers Act of 1940 (15 U.S.C.
-80b-3(m)) is amended by adding at the end the following:
-``(5) Inflation adjustment.--The Commission shall adjust
-the dollar amount described under paragraph (1)--
-``(A) upon enactment of this paragraph, to reflect
-the change in the Consumer Price Index for All Urban
-Consumers published by the Bureau of Labor Statistics
-of the Department of Labor between the date of
-enactment of the Private Fund Investment Advisers
-Registration Act of 2010 and the date of enactment of
-this paragraph; and
-``(B) annually thereafter, to reflect the change in
-the Consumer Price Index for All Urban Consumers
-published by the Bureau of Labor Statistics of the
-Department of Labor.''.
-<all>
+80b-3(m)) is amended--
+(1) in paragraph (1), by striking ``$150,000,000'' and
+inserting ``$175,000,000''; and
+(2) by adding at the end the following:
+``(5) Inflation adjustment.--The Commission shall, every 5
+years, adjust the dollar amount described under paragraph (1)
+to reflect the change in the Consumer Price Index for All Urban
+Consumers published by the Bureau of Labor Statistics of the
+Department of Labor, and round such dollar amount to the
+nearest multiple of $1,000,000.''.
+Union Calendar No. 211
+
+119th CONGRESS
+
+1st Session
+
+H. R. 3673
+
+[Report No. 119-254]
+
+_______________________________________________________________________
+
+A BILL
+
+To amend the Investment Advisers Act of 1940 to increase the exemption
+from registration threshold for certain investment advisers of private
+funds to reflect the change in inflation.
+
+_______________________________________________________________________
+
+September 8, 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 Q3

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 (1)

Members who signed on to support this bill.

Velázquez D