Bill > HR2225

This bill, known as the Access to Small Business Investor Capital Act, modifies reporting requirements for registered investment companies regarding Acquired Fund Fees and Expenses (AFFE). The bill provides detailed definitions for several key terms, including registered investment companies, business development companies, and specific investment registration forms like Form N-1A, N-2, and N-3. The primary provision allows registered investment companies to exclude fees and expenses indirectly incurred through investments in business development companies from their Acquired Fund Fees and Expenses calculations when filing investment company registration statements with the Securities and Exchange Commission. This change effectively gives investment companies more flexibility in reporting their fee structures by permitting them to omit certain indirect fees associated with investments in business development companies from their standard fee table disclosures. The bill aims to simplify and potentially reduce the reported fee expenses for registered investment companies by providing this reporting exemption.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/2225/all-info