# 119-s-1808: Access to Small Business Investor Capital Act

119-s-1808, Access to Small Business Investor Capital Act, is a 119th Congress bill sponsored by Sen. McCormick, David [R-PA] (R-PA); status introduced; PRIA reads it as touching household money (as of 2026-06-19).

- Canonical: https://policyrisk.com/legislation/119-s-1808
- As of: 2026-06-19
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-1808
- Congress: 119
- Title: Access to Small Business Investor Capital Act
- Status: introduced
- Introduced: 2025-05-20
- Sponsor: Sen. McCormick, David [R-PA] (R-PA)
- Cosponsors: 17
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-06-19

## Summary

**Would let registered investment companies exclude certain indirect fees from the "acquired fund fees and expenses" line when those fees come from investments in business development companies (BDCs).** It ties that change to the fee-table rules on Form N-1A, Form N-2, Form N-3 and to registration statements filed under section 8(b) of the Investment Company Act. - Fund managers can omit fees and expenses that were incurred indirectly because their shares are invested in one or more acquired funds that are BDCs. This omission is optional and applies on the applicable SEC registration statements. - Investors may see lower amounts reported on the acquired fund fees and expenses line in prospectus fee tables, which could change how funds appear when comparing costs. - The change depends on existing SEC form definitions and applies only to acquired funds that meet the bill's definition of a business development company.

## Cosponsors (17)

- Sen. Alsobrooks, Angela D. [D-MD] (D-MD), 2025-05-20T00:00:00.000Z
- Sen. Daines, Steve [R-MT] (R-MT), 2025-06-04T00:00:00.000Z
- Sen. Gallego, Ruben [D-AZ] (D-AZ), 2025-06-04T00:00:00.000Z
- Sen. Hagerty, Bill [R-TN] (R-TN), 2025-07-21T00:00:00.000Z
- Sen. Blunt Rochester, Lisa [D-DE] (D-DE), 2025-07-21T00:00:00.000Z
- Sen. Moreno, Bernie [R-OH] (R-OH), 2025-09-16T00:00:00.000Z
- Sen. Kim, Andy [D-NJ] (D-NJ), 2025-09-16T00:00:00.000Z
- Sen. Banks, Jim [R-IN] (R-IN), 2025-09-29T00:00:00.000Z
- Sen. Warner, Mark R. [D-VA] (D-VA), 2025-09-29T00:00:00.000Z
- Sen. Britt, Katie Boyd [R-AL] (R-AL), 2026-01-13T00:00:00.000Z
- Sen. Hickenlooper, John W. [D-CO] (D-CO), 2026-01-13T00:00:00.000Z
- Sen. Kennedy, John [R-LA] (R-LA), 2026-01-29T00:00:00.000Z
- Sen. Shaheen, Jeanne [D-NH] (D-NH), 2026-01-29T00:00:00.000Z
- Sen. Justice, James C. [R-WV] (R-WV), 2026-01-30T00:00:00.000Z
- Sen. Rosen, Jacky [D-NV] (D-NV), 2026-01-30T00:00:00.000Z
- Sen. Hassan, Margaret Wood [D-NH] (D-NH), 2026-04-21T00:00:00.000Z
- Sen. Husted, Jon [R-OH] (R-OH), 2026-06-18T00:00:00.000Z

## Provisions PRIA read

- Funds may omit BDC fees: mixed, low. This bill would let a registered investment company that files an 8(b) registration statement omit certain fees from its "acquired fund fees and expenses" calculation. The omitted fees would be those incurred indirectly because the fund invested in business development companies. The change would a…

## Related bills

- 119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former United States Senator for the State of Kansas.
- 119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewellyn Kyl, former Senator for the State of Arizona.
- 119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham, a Senator from the State of South Carolina.
- 119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former Senator for the State of Michigan.
- 119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for the State of California.
- 119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States Senator for the State of Idaho.

## Sources
- [119-s-1808 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/1808)

## Related
- [119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former Uni…](https://policyrisk.com/legislation/119-sres-913)
- [119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewel…](https://policyrisk.com/legislation/119-sres-897)
- [119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham,…](https://policyrisk.com/legislation/119-sres-801)
- [119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former S…](https://policyrisk.com/legislation/119-sres-755)
- [119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for…](https://policyrisk.com/legislation/119-sres-739)
- [119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States…](https://policyrisk.com/legislation/119-sres-723)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-1808 (as of 2026-06-19).