[Report No. 119–526]
December 9, 2025
Mr. Stutzman introduced the following bill; which was referred to the Committee on Financial Services
February 25, 2026
Additional sponsor: Mr. Davidson
February 25, 2026
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
Strike out all after the enacting clause and insert the part printed in italic
For text of introduced bill, see copy of bill as introduced on December 9, 2025
To amend the Securities Act of 1933 with respect to small company capital formation, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the Regulation A+ Improvement Act of 2025
.
Sec. 2. JOBS Act-related exemption
Section 3(b) of the Securities Act of 1933 (15 U.S.C. 77c(b)) is amended—
(1)
in paragraph (1), by striking $5,000,000
and inserting $50,000,000, including not more than $12,000,000 offered by all selling security holders that are affiliates of the issuer, as such dollar amounts are adjusted for inflation by the Commission every 5 years, by notice published in the Federal Register, to the nearest $10,000 to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics
;
(2)
in paragraph (2)(A), by striking $50,000,000
and inserting $150,000,000, including not more than $50,000,000 offered by all selling security holders that are affiliates of the issuer, as such dollar amounts are adjusted for inflation by the Commission every 5 years, by notice published in the Federal Register, to the nearest $10,000 to reflect the change in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics
; and
(3)
in paragraph (5)—
(A)
by striking such amount as
and inserting such amount, in addition to the adjustment for inflation provided for under such paragraph (2)(A), as
; and
(B)
by striking such amount, it
and inserting such amount, in addition to the adjustment for inflation provided for under such paragraph (2)(A), it
.