# 119-s-3880: Small Business Investor Capital Access Act

119-s-3880, Small Business Investor Capital Access Act, is a 119th Congress bill sponsored by Sen. Rounds, Mike [R-SD] (R-SD); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3880
- 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-3880
- Congress: 119
- Title: Small Business Investor Capital Access Act
- Status: introduced
- Introduced: 2026-02-12
- Sponsor: Sen. Rounds, Mike [R-SD] (R-SD)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Raises the private fund adviser exemption threshold to $175 million.** This bill would expand which private fund advisers can use the small-fund exemption and create a regular inflation update so the threshold keeps pace with price changes. - Advisers managing between $150 million and $175 million would newly qualify for the exemption, making more small private fund advisers eligible. - The Securities and Exchange Commission would adjust the dollar threshold every 5 years using the Consumer Price Index for All Urban Consumers from the Bureau of Labor Statistics and round the amount to the nearest $1 million.

## Cosponsors (1)

- Sen. Gallego, Ruben [D-AZ] (D-AZ), 2026-02-12T00:00:00.000Z

## Provisions PRIA read

- Higher exemption for private fund advisers: benefit, low. If enacted, this bill would raise the SEC private-fund adviser exemption threshold from $150 million to $175 million. The change would take effect upon enactment. Every 5 years, the SEC would update the amount using the Consumer Price Index for All Urban Consumers (CPI-U). Each updated threshold wo…

## Related bills

- 119-s-2904: SHADOW Fleet Sanctions Act of 2026
- 119-s-3257: John A. Hauser Mental Health in Aviation Act
- 119-s-554: United States-Israel Defense Partnership Act of 2025
- 119-s-390: BADGES for Native Communities Act
- 119-s-3597: National Quantum Initiative Reauthorization Act of 2026
- 119-s-3940: Access to Fair Financing for Opportunity and Resilient Development Act

## Sources
- [119-s-3880 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3880)

## Related
- [119-s-2904: SHADOW Fleet Sanctions Act of 2026](https://policyrisk.com/legislation/119-s-2904)
- [119-s-3257: John A. Hauser Mental Health in Aviation Act](https://policyrisk.com/legislation/119-s-3257)
- [119-s-554: United States-Israel Defense Partnership Act of 2025](https://policyrisk.com/legislation/119-s-554)
- [119-s-390: BADGES for Native Communities Act](https://policyrisk.com/legislation/119-s-390)
- [119-s-3597: National Quantum Initiative Reauthorization Act of 2026](https://policyrisk.com/legislation/119-s-3597)
- [119-s-3940: Access to Fair Financing for Opportunity and Resilient Development Act](https://policyrisk.com/legislation/119-s-3940)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3880 (as of 2026-04-21).