H.R. 3383

Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025

Sponsor: Ann Wagner

4 cosponsors
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Official summary

Written by the Congressional Research Service.

Increasing Investor Opportunities Act

This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.  

Text of the bill

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I Expanding Access to Capital for Small Businesses

Sec. 103. Amendment for crowdfunding capital enhancement and small-business support Added Dec 11, 2025

(a) In general. Section 4A of the Securities Act of 1933 (15 U.S.C. 77d–1) is amended—

(1) in subsection (b)(1)(D), by striking $100,000 each place such term appears and inserting $250,000; and

(2) by adding at the end the following:

Text this section adds to the law

(i) Discretion to adjust amount. The Commission may increase the amount specified in subsections (b)(1)(D)(i) and (b)(1)(D)(ii) from $250,000 to an amount not greater than $400,000 upon the recommendation of the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate.

(b) Technical corrections. The Securities Act of 1933 (15 U.S.C. 77a et seq.) is amended—

(1) in section 4A—

(A) by striking section 4(6) each place such term appears and inserting section 4(a)(6); and

(B) by striking section 4(6)(B) each place such term appears and inserting section 4(a)(6)(B);

(2) in section 16(f)(3), by striking section 4(2) and inserting section 4(a)(2); and

(3) in section 18—

(A) in subsection (b)(4)—

(i) in subparagraph (B), by striking section 4(4) and inserting section 4(a)(4);

(ii) in subparagraph (C), by striking section 4(6) and inserting section 4(a)(6); and

(iii) in subparagraph (F), by striking section 4(2) each place such term appears and inserting section 4(a)(2); and

(B) in subsection (c)(1)(B), by striking section 4(6) and inserting section 4(a)(6);

II Increasing Opportunities for Investors

III Strengthening Public Markets