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Lowering Market Value Threshold for Well-Known Seasoned Issuer Status

This Act lowers the required market value of a company's stock to qualify as a "well-known seasoned issuer" (WKSI). This change allows more companies to raise capital faster and more easily in public markets, potentially increasing investment opportunities for citizens. The goal is to stimulate the capital market by facilitating access to financing for a broader range of businesses.
Key points
The minimum aggregate market value of voting and non-voting common equity required for WKSI status is lowered to $400,000,000.
The new definition removes any requirement in the existing WKSI definition related to minimum worldwide market value of outstanding common equity.
The Securities and Exchange Commission (SEC) must publish annual reports on the total number of withdrawn applications related to WKSI status determinations.
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Status: Passed House
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Additional Information
Print number: 119_HR_4430
Sponsor: Rep. Steil, Bryan [R-WI-1]
Process start date: 2025-07-16
System Note: Lustra is free, publicly auditable civic infrastructure — 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-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Expanding WKSI Eligibility Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4430.

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 2025-07-16.

What are the main provisions?

Key points include:

  • The minimum aggregate market value of voting and non-voting common equity required for WKSI status is lowered to $400,000,000.
  • The new definition removes any requirement in the existing WKSI definition related to minimum worldwide market value of outstanding common equity.
  • The Securities and Exchange Commission (SEC) must publish annual reports on the total number of withdrawn applications related to WKSI status determinations.
What is the specific legal status?

The current status is Passed House.

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. Steil, Bryan [R-WI-1].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4952)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-31.

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