HR 3645 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
H. R. 3645 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.
Summary
This bill amends the Securities Act of 1933 to increase the offering amount threshold for when crowdfunding issuers are required to file financial statements reviewed by an independent public accountant from $100,000 to $250,000. It also gives the Securities and Exchange Commission discretion to increase this threshold further to as much as $400,000, based on recommendations from the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate. The bill includes technical corrections to cross-references in the Securities Act.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Meuser, Daniel [R-PA-9] (R-PA)
4 cosponsors
Money behind the sponsor
Top reported contributors to Daniel Meuser’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $25,535
- SUNDANCE VACATIONS $9,900
- PACE-O-MATIC $9,900
- PENSKE TRANSPORTATION SOLUTIONS $9,300
- PRIDE-MOBILIT PRODUCTS CORP $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Daniel Meuser → · Outside spending →
Actions (6)
- Jul 15, 2025 Placed on the Union Calendar, Calendar No. 166. · house
- Jul 15, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-203. · house
- Jun 10, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0. · house
- Jun 10, 2025 Committee Consideration and Mark-up Session Held · house
- May 29, 2025 Referred to the House Committee on Financial Services. · house
- May 29, 2025 Introduced in House
More bills on these subjects (8)
Other bills that carry the most legislative subjects in common with this one (topical discovery — distinct from the procedural related bills above).
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (2)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
May 29, 2025
Mr. Meuser (for himself, Ms. De La Cruz, Mrs. McClain, Mr. Nunn of Iowa, and Ms. Salazar) introduced the following bill; which was referred to the Committee on Financial Services
July 15, 2025
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 May 29, 2025]
A BILL
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 2025” or the “ACCESS Act of 2025”.
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), by striking “$100,000” each place such term appears and inserting “$250,000”; and
(2) by adding at the end the following:
“(i) Discretion to Adjust Amount.—The Commission may increase the amount specified in subsections (b)(1)(D)(i) and (b)(1)(D)(ii) from $250,000 to an amount 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 such term appears and inserting “section 4(a)(6)”; and
(2) by striking “section 4(6)(B)” each place such term appears and inserting “section 4(a)(6)(B)”. Union Calendar No. 166
119th CONGRESS
1st Session
H. R. 3645
[Report No. 119-203]
A BILL
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.
July 15, 2025
Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed
Comments