# 119-hr-2225: Access to Small Business Investor Capital Act

119-hr-2225, Access to Small Business Investor Capital Act, is a 119th Congress bill sponsored by Rep. Sherman, Brad [D-CA-32] (D-CA); status passed_house; PRIA reads it as touching household money (as of 2026-07-15).

- Canonical: https://policyrisk.com/legislation/119-hr-2225
- As of: 2026-07-15
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-2225
- Congress: 119
- Title: Access to Small Business Investor Capital Act
- Status: passed_house
- Introduced: 2025-03-18
- Sponsor: Rep. Sherman, Brad [D-CA-32] (D-CA)
- Cosponsors: 25
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-07-15

## Summary

**Exempts fees tied to investments in Business Development Companies from funds' acquired‑fund fee totals on SEC registration forms.** It would let a registered investment company omit from its Acquired Fund Fees and Expenses calculation fees it incurred indirectly through investments in Acquired Funds that are business development companies. - Funds: Registered investment companies could report lower Acquired Fund Fees and Expenses on their Form N-1A, N-2, or N-3 registration statements by excluding fees passed through from BDC investments. - Investors: Fee tables in prospectuses and registration statements would show smaller acquired-fund fee lines for funds that invest in BDCs, altering the cost information investors see. - Rule clarity: The bill defines key terms and ties the exclusion to the Fee Table Disclosure in the specified SEC forms so filers and regulators have a clear framework for what counts as an Acquired Fund and what may be omitted.

## Cosponsors (25)

- Rep. Huizenga, Bill [R-MI-4] (R-MI), 2025-03-18T00:00:00.000Z
- Rep. Garbarino, Andrew R. [R-NY-2] (R-NY), 2025-03-18T00:00:00.000Z
- Rep. Bynum, Janelle S. [D-OR-5] (D-OR), 2025-03-18T00:00:00.000Z
- Rep. Scott, David [D-GA-13] (D-GA), 2025-03-21T00:00:00.000Z
- Rep. Meuser, Daniel [R-PA-9] (R-PA), 2025-03-21T00:00:00.000Z
- Rep. Fields, Cleo [D-LA-6] (D-LA), 2025-03-21T00:00:00.000Z
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA), 2025-03-24T00:00:00.000Z
- Rep. Strickland, Marilyn [D-WA-10] (D-WA), 2025-04-08T00:00:00.000Z
- Rep. Steil, Bryan [R-WI-1] (R-WI), 2025-04-08T00:00:00.000Z
- Rep. Boyle, Brendan F. [D-PA-2] (D-PA), 2025-04-08T00:00:00.000Z
- Rep. Barr, Andy [R-KY-6] (R-KY), 2025-04-08T00:00:00.000Z
- Rep. Wagner, Ann [R-MO-2] (R-MO), 2025-04-10T00:00:00.000Z
- Rep. Pettersen, Brittany [D-CO-7] (D-CO), 2025-04-10T00:00:00.000Z
- Rep. Foster, Bill [D-IL-11] (D-IL), 2025-04-17T00:00:00.000Z
- Rep. Nunn, Zachary [R-IA-3] (R-IA), 2025-04-17T00:00:00.000Z
- Rep. Velázquez, Nydia M. [D-NY-7] (D-NY), 2025-04-17T00:00:00.000Z
- Rep. Casten, Sean [D-IL-6] (D-IL), 2025-04-21T00:00:00.000Z
- Rep. Himes, James A. [D-CT-4] (D-CT), 2025-04-28T00:00:00.000Z
- Rep. Cleaver, Emanuel [D-MO-5] (D-MO), 2025-05-07T00:00:00.000Z
- Rep. Meeks, Gregory W. [D-NY-5] (D-NY), 2025-05-13T00:00:00.000Z
- Rep. Gottheimer, Josh [D-NJ-5] (D-NJ), 2025-05-13T00:00:00.000Z
- Rep. Torres, Ritchie [D-NY-15] (D-NY), 2025-05-15T00:00:00.000Z
- Rep. Gonzalez, Vicente [D-TX-34] (D-TX), 2025-05-19T00:00:00.000Z
- Rep. Kim, Young [R-CA-40] (R-CA), 2025-05-20T00:00:00.000Z
- Rep. Meng, Grace [D-NY-6] (D-NY), 2025-06-03T00:00:00.000Z

## Provisions PRIA read

- Investors may see different fund fees: mixed, low. This bill would change how investment funds list expenses on SEC filings. Funds could leave out fees that come from their investments in business development companies. This would apply to the fee table on Forms N-1A, N-2, and N-3 registration statements under section 8(b). If enacted, some funds c…

## Related bills

- 119-hr-1993: 25th Anniversary of 9/11 Commemorative Coin Act
- 119-hr-2102: Major Richard Star Act
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hres-1641: Honoring the contributions of Indian Americans and supporting the designation of July as "Indian American Heritage Month".
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act
- 119-hr-909: Crime Victims Fund Stabilization Act of 2025

## Sources
- [119-hr-2225 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/2225)

## Related
- [119-hr-1993: 25th Anniversary of 9/11 Commemorative Coin Act](https://policyrisk.com/legislation/119-hr-1993)
- [119-hr-2102: Major Richard Star Act](https://policyrisk.com/legislation/119-hr-2102)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hres-1641: Honoring the contributions of Indian Americans and supporting the designation o…](https://policyrisk.com/legislation/119-hres-1641)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [119-hr-909: Crime Victims Fund Stabilization Act of 2025](https://policyrisk.com/legislation/119-hr-909)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-2225 (as of 2026-07-15).