H.R. 4130

119th CONGRESS 1st Session

To amend the Securities Exchange Act of 1934 to exclude qualified institutional buyers and institutional accredited investors when calculating holders of a security for purposes of the mandatory registration threshold under such Act, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES · June 25, 2025 · Sponsor: Mr. Garbarino · Committee: Committee on Financial Services

Table of contents

• H.R. 4130
  • SEC. 1. Short title
  • SEC. 2. Exclusions from mandatory registration threshold

SEC. 1. Short title

• This Act may be cited as the Small Business Relief Act.

SEC. 2. Exclusions from mandatory registration threshold

• (a) In general
  • Section 12(g)(1) of the Securities Exchange Act of 1934 () is amended— 15 U.S.C. 78l(g)(1)
    • in paragraph (A)(i), by inserting after the following: ; and
    • in paragraph (B), by inserting after the following: .
• (b) Nonapplicability of general exemptive authority
  • Section 36 of the Securities Exchange Act of 1934 () shall not apply to the matter inserted by the amendments made by subsection (a). 15 U.S.C. 78mm