119 HR 4130 IH: Small Business Relief Act U.S. House of Representatives 2025-06-25 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS1st SessionH. R. 4130IN THE HOUSE OF REPRESENTATIVESJune 25, 2025Mr. Garbarino introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo 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.

1.

Short title

This Act may be cited as the Small Business Relief Act.

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).