Excludes qualified institutional buyers and institutional accredited investors from the count of holders that can trigger mandatory securities registration under the Securities Exchange Act of 1934.

Official title: Small Business Relief Act

Next stop House floor: awaiting a vote

Timeline each lane is a chamber; dates pull from congress.gov actions

House

Introduced 25-JUN-2025

Referred 25-JUN-2025

Approved by committee 17-DEC-2025

Reported 25-FEB-2026

On the calendar 25-FEB-2026

Key points

Amends Section 12(g)(1) of the Securities Exchange Act of 1934 to add an exclusion for qualified institutional buyers and institutional accredited investors.
Applies the exclusion to the holder counts in subparagraphs (A)(i) and (B) of that section, which set the mandatory registration threshold.
Is titled the "Small Business Relief Act."

AI-generated from the Reported in House text of 25-FEB-2026 · verify · report an error

Official CRS summary

Current. The Congressional Research Service's summary covers the bill's latest wording (Reported to House, 25-FEB-2026).

CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov

Committee referrals (1)

Policy area

Finance and Financial Sector

Sponsor Andrew R. Garbarino (R-NY) Cosponsors · 1

■ 1 R

1 Republican

congress.gov page Reported in House (25-FEB-2026) Introduced in House (25-JUN-2025)