[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6541 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 451
119th CONGRESS
  2d Session
                                H. R. 6541

                          [Report No. 119-526]

   To amend the Securities Act of 1933 with respect to small company 
               capital formation, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 9, 2025

 Mr. Stutzman introduced the following bill; which was referred to the 
                    Committee on Financial Services

                           February 25, 2026

                    Additional sponsor: Mr. Davidson

                           February 25, 2026

  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 
                           December 9, 2025]


_______________________________________________________________________

                                 A BILL


 
   To amend the Securities Act of 1933 with respect to small company 
               capital formation, 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 ``Regulation A+ Improvement Act of 
2025''.

SEC. 2. JOBS ACT-RELATED EXEMPTION.

    Section 3(b) of the Securities Act of 1933 (15 U.S.C. 77c(b)) is 
amended--
            (1) in paragraph (1), by striking ``$5,000,000'' and 
        inserting ``$50,000,000, including not more than $12,000,000 
        offered by all selling security holders that are affiliates of 
        the issuer, as such dollar amounts are adjusted for inflation 
        by the Commission every 5 years, by notice published in the 
        Federal Register, to the nearest $10,000 to reflect the change 
        in the Consumer Price Index for All Urban Consumers published 
        by the Bureau of Labor Statistics'';
            (2) in paragraph (2)(A), by striking ``$50,000,000'' and 
        inserting ``$150,000,000, including not more than $50,000,000 
        offered by all selling security holders that are affiliates of 
        the issuer, as such dollar amounts are adjusted for inflation 
        by the Commission every 5 years, by notice published in the 
        Federal Register, to the nearest $10,000 to reflect the change 
        in the Consumer Price Index for All Urban Consumers published 
        by the Bureau of Labor Statistics''; and
            (3) in paragraph (5)--
                    (A) by striking ``such amount as'' and inserting 
                ``such amount, in addition to the adjustment for 
                inflation provided for under such paragraph (2)(A), 
                as''; and
                    (B) by striking ``such amount, it'' and inserting 
                ``such amount, in addition to the adjustment for 
                inflation provided for under such paragraph (2)(A), 
                it''.
                                                 Union Calendar No. 451

119th CONGRESS

  2d Session

                               H. R. 6541

                          [Report No. 119-526]

_______________________________________________________________________

                                 A BILL

   To amend the Securities Act of 1933 with respect to small company 
               capital formation, and for other purposes.

_______________________________________________________________________

                           February 25, 2026

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed