[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4130 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 4130
To amend the Securities Exchange Act of 1934 to exclude qualified
institutional buyers and institutional accredited investors when
calculating holders of a security for purposes of the mandatory
registration threshold under such Act, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
June 25, 2025
Mr. Garbarino introduced the following bill; which was referred to the
Committee on Financial Services
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A BILL
To amend the Securities Exchange Act of 1934 to exclude qualified
institutional buyers and institutional accredited investors when
calculating holders of a security for purposes of the mandatory
registration threshold under such Act, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Small Business Relief Act''.
SEC. 2. EXCLUSIONS FROM MANDATORY REGISTRATION THRESHOLD.
(a) In General.--Section 12(g)(1) of the Securities Exchange Act of
1934 (15 U.S.C. 78l(g)(1)) is amended--
(1) in paragraph (A)(i), by inserting after ``persons'' the
following: ``(that are not a qualified institutional buyer or
an institutional accredited investor)''; and
(2) in paragraph (B), by inserting after ``persons'' the
following: ``(that are not a qualified institutional buyer or
an institutional accredited investor)''.
(b) Nonapplicability of General Exemptive Authority.--Section 36 of
the Securities Exchange Act of 1934 (15 U.S.C. 78mm) shall not apply to
the matter inserted by the amendments made by subsection (a).
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