ACCESS Rural America Act
Sponsored By: Senator Baldwin, Tammy [D-WI]
Introduced
Summary
Easier capital access for rural broadband providers. This bill would create a narrow exemption from Section 12(g) of the Securities Exchange Act for securities issued by rural telephone companies that provide broadband, if they meet precise reporting, ownership, and subscriber thresholds.
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- Rural telephone companies would be able to offer certain securities without Section 12(g) registration if they file a financial summary within 120 days after their fiscal year and have no more than 100,000 broadband subscribers in the United States.
- Investors and holders would get required disclosures including a consolidated balance sheet, consolidated income statement, subscriber data, and any other financially material information the Securities and Exchange Commission requires.
- The Securities and Exchange Commission would retain a public-interest and investor-protection role because the exemption depends on the issuer’s timely delivery and public filing of the financial summary and the Commission’s disclosure requirements.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Securities exemption for rural broadband companies
This bill would let certain rural telephone companies that offer broadband avoid registration under Section 12(g) of the Securities Exchange Act. To qualify, an issuer would have to file a financial summary form with the Securities and Exchange Commission within 120 days after its fiscal year ends and deliver that form to each holder of record. The form would need a consolidated balance sheet, income statement, and broadband subscriber data, plus any other financially material information the Commission requires. The issuer and its affiliates would have to have no more than 100,000 U.S. broadband subscribers, and the security must be held by more than 500 non‑accredited holders and by fewer than 2,000 persons total. Section 1 would give the bill the short title "Access to Capital Creates Economic Strength and Supports Rural America Act" or "ACCESS Rural America Act."
Sponsors & CoSponsors
Sponsor
Baldwin, Tammy [D-WI]
WI • D
Cosponsors
Sen. Ernst, Joni [R-IA]
IA • R
Sponsored 7/15/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov