[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3662 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 3662

   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.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 15, 2026

Mr. McCormick (for himself and Mr. Kim) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 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.

    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 ``Amendment for Crowdfunding Capital 
Enhancement and Small-business Support Act of 2026'' or the ``ACCESS 
Act of 2026''.

SEC. 2. OFFERING THRESHOLD FOR REVIEWS BY PUBLIC ACCOUNTANT.

    (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)--
                    (A) in clause (i), in the matter preceding 
                subclause (I), by striking ``$100,000'' and inserting 
                ``$250,000''; and
                    (B) in clause (ii), by striking ``$100,000'' and 
                inserting ``$250,000''; and
            (2) by adding at the end the following:
    ``(i) Discretion To Adjust Amount.--The Commission may increase the 
amount described in clauses (i) and (ii) of subsection (b)(1)(D) from 
$250,000 to an amount that is 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 that term 
        appears and inserting ``section 4(a)(6)''; and
            (2) by striking ``section 4(6)(B)'' each place that term 
        appears and inserting ``section 4(a)(6)(B)''.
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