# 119-hr-4130: Small Business Relief Act

119-hr-4130, Small Business Relief Act, is a 119th Congress bill sponsored by Rep. Garbarino, Andrew R. [R-NY-2] (R-NY); status in_committee; PRIA reads it as touching household money (as of 2026-06-13).

- Canonical: https://policyrisk.com/legislation/119-hr-4130
- As of: 2026-06-13
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-4130
- Congress: 119
- Title: Small Business Relief Act
- Status: in_committee
- Introduced: 2025-06-25
- Sponsor: Rep. Garbarino, Andrew R. [R-NY-2] (R-NY)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-06-13

## Summary

**Excludes qualified institutional buyers and institutional accredited investors from the holder count that triggers mandatory registration under Section 12(g)(1) of the Securities Exchange Act.** The bill keeps the numeric threshold the same but would lower the counted holders in some private-ownership situations, which can delay or avoid mandatory registration for affected issuers. - Private companies and issuers: Companies with many institutional holders would count fewer holders for the Section 12(g)(1) test. That can delay or prevent the need to register a class of securities and the disclosure obligations that follow. - Qualified institutional buyers and institutional accredited investors: These institutional holders would not be counted toward the mandatory-registration holder total, changing who contributes to the trigger. - Rule focus: The change alters the composition of counted holders without changing the numeric threshold itself, so the legal trigger remains the same.

## Cosponsors (1)

- Rep. Sessions, Pete [R-TX-17] (R-TX), 2025-12-16T00:00:00.000Z

## Provisions PRIA read

- Fewer SEC registration triggers for issuers: benefit, low. This bill would change how the SEC counts owners when deciding if a class of securities must register under Section 12(g)(1). If enacted, holders that qualify as qualified institutional buyers (QIBs) or institutional accredited investors (IAIs) would not be counted toward the numeric holder thresho…

## Related bills

- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025
- 119-hr-6955: Main Street Capital Access Act
- 119-hr-2548: Sanctioning Russia Act of 2025
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act

## Sources
- [119-hr-4130 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/4130)

## Related
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [119-hr-2548: Sanctioning Russia Act of 2025](https://policyrisk.com/legislation/119-hr-2548)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-4130 (as of 2026-06-13).