S. 2906

119th CONGRESS 1st Session

To amend the Investment Company Act of 1940 to address entities that are not considered to be investment companies for the purposes of that Act, and for other purposes.

IN THE SENATE OF THE UNITED STATES · September 18 (legislative day, September 16), 2025 · Sponsor: Mr. Moran · Committee: Committee on Banking, Housing, and Urban Affairs

Table of contents

• S. 2906
  • SEC. 1. Short title
  • SEC. 2. Investment companies

SEC. 1. Short title

• This Act may be cited as the Expanding American Entrepreneurship Act.

SEC. 2. Investment companies

• Section 3(c)(1) of the Investment Company Act of 1940 () is amended— 15 U.S.C. 80a–3(c)(1)
  • in the matter preceding subparagraph (A), in the first sentence, by striking 250 personsand inserting 500 persons; and
  • in subparagraph (C)(i), by striking striking0,000,000and inserting $50,000,000.