H.R. 3645 — what changed
Amendment for Crowdfunding Capital Enhancement and Small-business Support Act of 2025
From Introduced in House to Reported in House. 1 section amended between Introduced in House and Reported in House.
Sec. 2 Offering threshold for reviews by public accountant
changed
In general— Section 4A(b)(1)(D) 4A of the Securities Act of 1933 (15 U.S.C. 77d–1(b)(1)(D)) 77d–1) is amended by striking “$100,000” each place such term appears and inserting “$500,000”.amended—
added
in subsection (b)(1)(D), by striking “$100,000” each place such term appears and inserting “$250,000”; and
added
by adding at the end the following:
added “(i) Discretion to adjust amount—The Commission may increase the amount specified in subsections (b)(1)(D)(i) and (b)(1)(D)(ii) from $250,000 to an amount 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.”
changed
Technical correction—corrections— Section 4A of the Securities Act of 1933 (15 U.S.C. 77d–1) is amended—
by striking “section 4(6)” each place such term appears and inserting “section 4(a)(6)”; and
by striking “section 4(6)(B)” each place such term appears and inserting “section 4(a)(6)(B)”.