Bill > HR3645

This bill amends the Securities Act of 1933 to enhance crowdfunding opportunities for small businesses by raising the financial review threshold for public accountant involvement. Specifically, the bill increases the offering amount from $100,000 to $250,000, above which issuers must have their financial statements reviewed by an independent public accountant. Additionally, the bill grants the Securities and Exchange Commission (SEC) the discretion to further increase this threshold up to $400,000, based on recommendations from the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate. The bill also makes technical corrections to section references within the existing law, ensuring more precise legal language. By raising these thresholds, the legislation aims to reduce financial and administrative burdens on small businesses seeking to raise capital through crowdfunding, while maintaining investor protections by keeping professional financial reviews in place for larger funding rounds.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/3645/all-info