118th Congress · HOUSE BILLBILL

H.R. 6825 — ACCESS Act of 2023

“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.”

Finance and financial sector

Introduced Dec 14, 2023

Last action Dec 14, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 14, 2023

Step 2

Referred

Dec 14, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill expands the exemption from certain disclosures applicable to crowdfunding issuers with specified target offering amounts. Crowdfunding is used to raise capital through a large number of individuals investing potentially small amounts of money. Under current law, crowdfunding issuers that have target offering amounts of $100,000 or less are not required to make available financial statements reviewed by an independent public accountant. The bill increases that amount to $250,000.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Dec 14, 2023

Introduced in House

Dec 14, 2023

Referred to the House Committee on Financial Services.