Small businesses raising money through crowdfunding would face fewer financial review rules for offerings up to $250,000.
This bill would make it easier for small businesses to raise money through crowdfunding by changing a rule about financial reviews. Currently, businesses raising over $100,000 must get their financial statements reviewed by an independent accountant. This bill would raise that amount to $250,000, and potentially up to $400,000. This would reduce costs for businesses but also change the level of financial scrutiny for investors.
Currently, businesses raising more than $100,000 through crowdfunding must have their financial statements reviewed by an independent public accountant. If this bill becomes law, businesses would be able to raise up to $250,000 through crowdfunding without that independent review. The Securities and Exchange Commission could also choose to raise this limit even higher, up to $400,000.
HR 3645 · 119th Congress · May 29, 2025 · AI Summary by gemini-2.5-flash · 10/10
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3 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.