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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
The ACCESS Act of 2026 amends securities law to raise the amount threshold for when small businesses using crowdfunding must have their financial statements independently reviewed by a certified public accountant. The threshold increases from $100,000 to $250,000 for crowdfunding offerings. The Securities and Exchange Commission is given discretion to further increase this threshold to up to $400,000 based on recommendations from the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate. This change allows smaller businesses to raise capital through crowdfunding with less stringent financial reporting requirements.
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)
- Sen. McCormick, David [R-PA] (R-PA)
1 cosponsor
- Sen. Kim, Andy [D-NJ] (D-NJ)
Actions (2)
- Jan 15, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Jan 15, 2026 Introduced in Senate
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.
Full text
IN THE SENATE OF THE UNITED STATES
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
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 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)”. <all>
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