[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3880 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 3880

 To amend the Investment Advisers Act of 1940 to address the exemption 
  of, and reporting by, certain private fund advisers, and for other 
                               purposes.


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                   IN THE SENATE OF THE UNITED STATES

                           February 12, 2026

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

_______________________________________________________________________

                                 A BILL


 
 To amend the Investment Advisers Act of 1940 to address the exemption 
  of, and reporting by, certain private fund advisers, 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 Investor Capital 
Access Act''.

SEC. 2. SMALL BUSINESS INVESTOR CAPITAL ACCESS.

    Section 203(m) of the Investment Advisers Act of 1940 (15 U.S.C. 
80b-3(m)) is amended--
            (1) in paragraph (1), by striking ``$150,000,000'' and 
        inserting ``$175,000,000''; and
            (2) by adding at the end the following:
            ``(5) Inflation adjustment.--The Commission shall, every 5 
        years, adjust the dollar amount under paragraph (1) to reflect 
        the change in the Consumer Price Index for All Urban Consumers 
        published by the Bureau of Labor Statistics of the Department 
        of Labor, setting the threshold to the nearest multiple of 
        $1,000,000.''.
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