January 15, 2026
Mr. McCormick (for himself and Mr. Kim) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To amend the Securities Act of 1933 to raise the offering amount threshold for when issuers using the crowdfunding exemption are required to file financial statements reviewed by a public accountant who is independent of the issuer, 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 Amendment for Crowdfunding Capital Enhancement and Small-business Support Act of 2026
or the ACCESS Act of 2026
.
Sec. 2. Offering threshold for reviews by public accountant
(a) In general
Section 4A of the Securities Act of 1933 (15 U.S.C. 77d–1) is amended—
(1)
in subsection (b)(1)(D)—
(A)
in clause (i), in the matter preceding subclause (I), by striking $100,000
and inserting $250,000
; and
(B)
in clause (ii), by striking $100,000
and inserting $250,000
; and
(2)
by adding at the end the following:
(i) Discretion To adjust amount
The Commission may increase the amount described in clauses (i) and (ii) of subsection (b)(1)(D) from $250,000 to an amount that is not greater than $400,000 upon the recommendation of the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate.
(b) Technical corrections
Section 4A of the Securities Act of 1933 (15 U.S.C. 77d–1) is amended—
(1)
by striking section 4(6)
each place that term appears and inserting section 4(a)(6)
; and
(2)
by striking section 4(6)(B)
each place that term appears and inserting section 4(a)(6)(B)
.