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Easing Capital Rules for Small Businesses and Expanding Investor Access to Private Markets.

This Act aims to simplify capital raising for small and medium-sized businesses by increasing regulatory thresholds and streamlining offering rules, such as crowdfunding. For citizens, this means expanded opportunities to invest in private markets and startups, alongside mandated improvements in the clarity of financial disclosures. It also introduces stricter oversight and cost-benefit analysis requirements for the Securities and Exchange Commission (SEC).
Key points
The revenue threshold for "Emerging Growth Company" status is raised to $2 billion, reducing regulatory burdens for more growing businesses.
New pathways for retail investors to qualify as "accredited investors" through an examination, regardless of income or net worth.
Simplified rules for small offerings (up to $500,000) and crowdfunding, making it easier for local businesses to raise funds.
SEC must study and implement rules to make financial statements and public disclosures easier for the average investor to read and understand.
Enhanced oversight of the SEC, requiring rigorous cost-benefit analysis for new rules and semiannual testimony before Congress.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_5139
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2024-09-23
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Empowering Main Street in America Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5139.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-09-23.

What are the main provisions?

Key points include:

  • The revenue threshold for "Emerging Growth Company" status is raised to $2 billion, reducing regulatory burdens for more growing businesses.
  • New pathways for retail investors to qualify as "accredited investors" through an examination, regardless of income or net worth.
  • Simplified rules for small offerings (up to $500,000) and crowdfunding, making it easier for local businesses to raise funds.
  • SEC must study and implement rules to make financial statements and public disclosures easier for the average investor to read and understand.
  • Enhanced oversight of the SEC, requiring rigorous cost-benefit analysis for new rules and semiannual testimony before Congress.
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 Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy