PRIA Logo™
119-s-2906119th CongressWALLET

Expanding American Entrepreneurship Act

Sponsored By: Senator Moran, Jerry [R-KS]

Introduced

Summary

Expand private fund exemptions. This bill would let more private investment pools avoid registration under the Investment Company Act by doubling the investor cap and raising the asset test.

Show full summary
  • Fund managers and private funds: Would let entities relying on Section 3(c)(1) accept up to 500 investors instead of 250 and hold up to $50 million instead of $10 million while still using the exemption.
  • Businesses seeking private capital: Broadens the exemption to larger pools and bigger asset bases, which could let more entities access private funds that rely on this rule.
  • Investors: More people could become holders in funds that use Section 3(c)(1), expanding who can participate in certain private offerings.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Higher private fund exemption limits

If enacted, private funds with $50 million or less in assets and 500 or fewer holders would be eligible for the Section 3(c)(1) exemption from registration. The bill would raise the asset test from $10 million to $50 million and increase the holder limit from 250 to 500. Fund managers and prospective investors who were previously ineligible would likely face lower federal registration and compliance costs. The change would take effect upon enactment.

Sponsors & CoSponsors

Sponsor

Moran, Jerry [R-KS]

KS • R

Cosponsors

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 9/18/2025

  • Sen. Scott, Tim [R-SC]

    SC • R

    Sponsored 9/18/2025

  • Sen. Gallego, Ruben [D-AZ]

    AZ • D

    Sponsored 9/18/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation