HR 4430
Passed a chamber
Lowers the stock value that qualifies a company as a well-known seasoned issuer to $400 million in non-affiliate common equity, and requires the SEC to publish yearly counts of withdrawn applications for that status.
Official title: Expanding WKSI Eligibility Act
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
16-JUL-2025
Referred
16-JUL-2025
Approved by committee
22-JUL-2025
Reported
08-SEP-2025
On the calendar
08-SEP-2025
Passed
01-DEC-2025
Senate
Received
02-DEC-2025
- Sets the required aggregate market value of voting and non-voting common equity held by non-affiliates at $400,000,000 or more.
- Keeps the other well-known seasoned issuer requirements in SEC rule 230.405, except the minimum worldwide market value requirement.
- Requires the SEC, within 90 days after each calendar year ends, to publish the number of applications withdrawn that year after seeking a determination to meet well-known seasoned issuer status.
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (16-JUL-2025); the text has changed since (Engrossed in House, 01-DEC-2025).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.govFinance and Financial Sector
■ 2 D■ 1 R
2 Democrats
1 Republican