A Democratic bill with 1 Republican cosponsor · See the cosponsor
Last activity — 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
The ACCESS Rural America Act amends the Securities Exchange Act of 1934. It creates a registration exemption for securities issued by rural telephone companies that provide broadband internet access service. To qualify, these companies must file a financial summary form with the Commission and deliver it to record holders. This form must include balance sheets, income statements, and subscriber data. The exemption applies to companies with no more than 100,000 broadband subscribers. Additionally, the security must be held by more than 500 non-accredited investors but fewer than 2,000 persons.
Yes· 3 of 10
- Scored +9
Would people in rural areas be better off under this?
Directly targets the expansion of essential digital infrastructure in rural communities.
- Scored +8
Does this get reliable internet to more people?
Facilitates capital raising for rural companies specifically to provide broadband internet access.
- Scored +7
Would business owners be better off under this?
Directly benefits owners of rural telephone companies by lowering barriers to raising capital.
The opposite
- Scored -3
Does this make what the government does easier for the public to see?
Reduces the level of detailed financial disclosure required for certain security offerings.
- Scored -2
Does this give people more protection from unfair business practices?
Investors receive a summary financial form rather than full registration disclosures, potentially increasing risk.
Who it would affect, and how
Potential Positive Impacts for People
- Increased Access to Capital: Rural telephone companies providing broadband can use this registration exemption to raise money, which may support economic strength in rural areas. This is found in Section 2 and the short title.
Potential Negative Impacts for People
- Limited Financial Disclosure: Investors may receive a "financial summary form" instead of full registration disclosures, which contains only a summary of the balance sheet, income statement, and specific subscriber data. This is detailed in Section 2.
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 people in rural areas be better off under this? — Directly targets the expansion of essential digital infrastructure in rural communities. Would business owners be better off under this? — Directly benefits owners of rural telephone companies by lowering barriers to raising capital. Would farmers be better off under this? — Farmers in rural areas benefit from improved broadband connectivity. Would households on low incomes be better off under this? — Potentially increases broadband availability in underserved rural areas. Would students be better off under this? — Students in rural areas benefit from improved internet access for education.
- Economy And Finance
- Does this make it easier to run a small business? — Provides a registration exemption that makes it easier for small rural telephone companies to raise capital. Is this likely to grow the economy? — Easier access to capital for rural infrastructure can stimulate local economic growth. Is this likely to create jobs? — Increased capital for rural broadband expansion may lead to job growth in those regions. Does this give people more protection from unfair business practices? — Investors receive a summary financial form rather than full registration disclosures, potentially increasing risk.
- Education And Technology
- Does this get reliable internet to more people? — Facilitates capital raising for rural companies specifically to provide broadband internet access.
- Environment Energy And Infrastructure
- Does this invest in rural communities? — Supports the expansion of broadband infrastructure in rural America.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — Reduces the level of detailed financial disclosure required for certain security offerings.
- 7/15/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
Joni ErnstRepublican · Iowa