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Simplified Fee Reporting for Funds Investing in Small Businesses

This act aims to simplify how investment funds report their fees, especially those related to investments in small businesses. This means citizens investing in such funds may get a clearer picture of costs, helping them make better financial decisions.
Key points
Investment funds can now exclude certain fees from their main fee calculations when investing in Business Development Companies.
These excluded fees will instead be disclosed in a footnote, aiming for better cost transparency for investors.
The change intends to support investments in small and developing businesses by simplifying reporting for funds.
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Status:
Expired
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Additional Information
Print number: 118_HR_1379
Sponsor: Rep. Sherman, Brad [D-CA-32]
Process start date: 2023-03-07
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Access to Small Business Investor Capital Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1379.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-07.

What are the main provisions?

Key points include:

  • Investment funds can now exclude certain fees from their main fee calculations when investing in Business Development Companies.
  • These excluded fees will instead be disclosed in a footnote, aiming for better cost transparency for investors.
  • The change intends to support investments in small and developing businesses by simplifying reporting for funds.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sherman, Brad [D-CA-32].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy