Mike Rounds (R-SD)· Introduced February 12, 2026

Small Business Investor Capital Access Act

S. 3880 · Senate bill Finance and Financial Sector

A Republican bill with 1 Democratic cosponsor · See the cosponsor

Last activity February 12, 2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

Introduced
In Committee

What this bill would do

This bill, known as the Small Business Investor Capital Access Act, proposes amendments to the Investment Advisers Act of 1940. It specifically aims to change how certain private fund advisers are exempted or required to report. The legislation increases a specific dollar threshold from $150,000,000 to $175,000,000. Additionally, it mandates that the Commission adjust this dollar amount every five years. This adjustment is based on the Consumer Price Index for All Urban Consumers to ensure the threshold reflects economic changes.

Yes

Scored +4
Would business owners be better off under this?
The bill eases regulatory exemptions for certain private fund advisers, benefiting those managing investment businesses.
Scored +4
Does this make it easier to run a small business?
The bill raises the assets-under-management threshold for private fund adviser exemptions, which reduces regulatory burdens for growing investment firms.
Scored +3
Would people with substantial wealth be better off under this?
The increased threshold and inflation adjustments may facilitate easier capital management for high-net-worth investment vehicles.

The opposite

No question was scored the opposite.

Who it would affect, and how

Potential Positive Impacts for People

Increased Threshold: By striking $150,000,000'' and inserting $175,000,000'', the bill changes the specific dollar amount within paragraph (1) of section 203(m) of the Investment Advisers Act of 1940 (SEC. 2).
Inflation Adjustments: The bill adds a requirement for the Commission to adjust the dollar amount every 5 years based on the Consumer Price Index for All Urban Consumers, which helps the threshold reflect current economic reality (SEC. 2).

Potential Negative Impacts for People

No negative impacts are explicitly stated in the provided text.

Groups and Interests Ranking

Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.

Demographic And Interest Groups: Would business owners be better off under this? — The bill eases regulatory exemptions for certain private fund advisers, benefiting those managing investment businesses. Would people with substantial wealth be better off under this? — The increased threshold and inflation adjustments may facilitate easier capital management for high-net-worth investment vehicles.
Economy And Finance: Does this make it easier to run a small business? — The bill raises the assets-under-management threshold for private fund adviser exemptions, which reduces regulatory burdens for growing investment firms.