# 119-s-3749: Expanding WKSI Eligibility Act

119-s-3749, Expanding WKSI Eligibility 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 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3749
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-3749
- Congress: 119
- Title: Expanding WKSI Eligibility Act
- Status: introduced
- Introduced: 2026-01-29
- Sponsor: Sen. McCormick, David [R-PA] (R-PA)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Expand access to well-known seasoned issuer (WKSI) status for smaller public companies.** This bill would lower the non-affiliate market-value threshold to $400 million under the Form S-3 test as in effect on the date of enactment and would remove the separate worldwide market-value requirement. It would also require the Securities and Exchange Commission to publish annually the number of applications that were withdrawn after seeking determinations tied to WKSI eligibility. - Issuers: Companies with at least $400 million in non-affiliate equity market value would be able to meet the WKSI definition under Form S-3 instruction I.B.1. without a separate worldwide market-value test. - Markets: More firms could qualify as WKSIs, changing which issuers can pursue WKSI-related determinations. - SEC transparency: The SEC would publish, within 90 days after each calendar year ends, the total number of withdrawn WKSI-determination applications for that year.

## Cosponsors (1)

- Sen. Blunt Rochester, Lisa [D-DE] (D-DE), 2026-01-29T00:00:00.000Z

## Provisions PRIA read

- More companies could qualify as WKSIs: benefit, low. This bill would let a company be a well-known seasoned issuer if non-affiliate holders own $400 million or more of its common equity. Market value would be determined under Form S-3 instruction I.B.1. The bill would remove any separate worldwide market-value test in the current WKSI rule. If enacte…

## Related bills

- 119-s-2120: Older Americans Act Reauthorization Act of 2025
- 119-s-1748: Kids Online Safety Act
- 119-s-1541: SHIPS for America Act of 2025
- 119-s-3923: Weather Research and Forecasting Innovation Reauthorization Act of 2026
- 119-s-3597: National Quantum Initiative Reauthorization Act of 2026
- 119-s-4189: INSULIN Act of 2026

## Sources
- [119-s-3749 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3749)

## Related
- [119-s-2120: Older Americans Act Reauthorization Act of 2025](https://policyrisk.com/legislation/119-s-2120)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-1541: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-s-1541)
- [119-s-3923: Weather Research and Forecasting Innovation Reauthorization Act of 2026](https://policyrisk.com/legislation/119-s-3923)
- [119-s-3597: National Quantum Initiative Reauthorization Act of 2026](https://policyrisk.com/legislation/119-s-3597)
- [119-s-4189: INSULIN Act of 2026](https://policyrisk.com/legislation/119-s-4189)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3749 (as of 2026-04-21).