H.R. 4130 — Reported in House

IB Union Calendar No. 450 119th CONGRESS 2d Session H. R. 4130 [Report No. 119–525] IN THE HOUSE OF REPRESENTATIVES June 25, 2025Mr. Garbarino introduced the following bill; which was referred to the Committee on Financial Services February 25, 2026Additional sponsor: Mr. Sessions February 25, 2026Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printedStrike out all after the enacting clause and insert the part printed in italicFor text of introduced bill, see copy of bill as introduced on June 25, 2025 A BILL To amend the Securities Exchange Act of 1934 to exclude qualified institutional buyers and institutional accredited investors when calculating holders of a security for purposes of the mandatory registration threshold under such Act, and for other purposes. 1. Short title This Act may be cited as the Small Business Relief Act. 2. Exclusions from mandatory registration threshold Section 12(g)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(g)(1)) is amended— (1) in subparagraph (A)(i), by inserting after persons the following: (that are not a qualified institutional buyer or an institutional accredited investor); and (2) in subparagraph (B), by inserting after persons the following: (that are not a qualified institutional buyer or an institutional accredited investor). February 25, 2026Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed