119th Congress · introduced in the House · Feb 11, 2025
Small Business Investment Act of 2025
Official title from Congress.gov
Latest action (Feb 11, 2025): Referred to the House Committee on Ways and Means.
View on Congress.govPolicy area: Taxation
Congressional Research Service summary, version: Introduced in House (Feb 11, 2025)
Small Business Investment Act of 2025
This bill reduces the time period a noncorporate taxpayer is required to hold qualified small business stock (QSBS) before a percentage of the gain on the sale or exchange of such stock may be excluded from gross income. (Limitations apply.) The bill also expands QSBS to include qualified debt instruments and certain corporate stock.
Under current law, a noncorporate taxpayer may exclude from gross income 100% of the gain from the sale or exchange of QSBS acquired after September 27, 2010 (or a smaller percentage if acquired on or before such date) and held for more than five years. Further, under current law, QSBS must be C corporation stock. (Exclusions and other requirements apply.)
The bill allows a noncorporate taxpayer to exclude from gross income
• 50% of the gain on the sale or exchange of QSBS (purchased after the enactment date of the bill) held for three years,
• 75% of the gain on the sale or exchange of such stock held for four years, and
• 100% of the gain on the sale or exchange of such stock held for five years.
Further, the bill expands QSBS to include stock acquired through the conversion of a qualified convertible debt instrument (e.g., bond converted into stock). Under the bill, the holding period of such stock includes the time period during which the qualified convertible debt instrument is held.
Finally, the bill expands QSBS to include corporate stock, not just C corporation stock. (Limitations apply.).
Show less of the summaryNo cosponsors.
Includes amendment, cloture, and procedural votes. Each is labeled with its exact question; only a passage question is a vote to pass the bill.
No recorded roll calls on this bill in coverage.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
LD-2 reports whose issue descriptions explicitly cite this bill (bill type and number validated against Congress.gov records). A citation does not establish the client's position or any contact with a member.
Loading lobbying reportsCoverage: reports for 2025 onward, posted Jan 1, 2025 through Oct 23, 2026.
31 citations; showing the 25 most recently posted.
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Taxation/Internal Revenue Code
$671,823
Spent on own lobbying
S. 445, The Carried Interest Fairness Act of 2025; H.R. 1091, The Carried Interest Fairness Act; S. 695, The Small Business Investment Act of 2025; H.R. 1199, The Small Business Investment Act of 2025; S. 866, The American Innovation and Jobs Act of 2025; H.R. 1990, The American Innovation and R&D Competitiveness Ac…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ANGEL CAPITAL ASSOCIATION · lobbying firm or registrant: GRAYROBINSON PA
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Taxation/Internal Revenue Code
$10,000
Paid to lobbying firm
…d to carried interest. Issues related to IRC section 1202, Small Business Stock Gains Exclusion. S. 695, Small Business Investment Act of 2025, all provisions. H.R. 1199, Small Business Investment Act of 2025, all provisions. H.R. 1, One Big Beautiful Bill Act, provisions affecting investments.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Taxation/Internal Revenue Code
$1,173,637
Spent on own lobbying
S. 445, The Carried Interest Fairness Act of 2025; H.R. 1091, The Carried Interest Fairness Act; S. 695, The Small Business Investment Act of 2025; H.R. 1199, The Small Business Investment Act of 2025; S. 866, The American Innovation and Jobs Act of 2025; H.R. 1990, The American Innovation and R&D Competitiveness Ac…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ANGEL CAPITAL ASSOCIATION · lobbying firm or registrant: GRAYROBINSON PA
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Taxation/Internal Revenue Code
$10,000
Paid to lobbying firm
…d to carried interest. Issues related to IRC section 1202, Small Business Stock Gains Exclusion. S. 695, Small Business Investment Act of 2025, all provisions. H.R. 1199, Small Business Investment Act of 2025, all provisions.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
JOB CREATORS NETWORK · lobbying firm or registrant: HARNED STRATEGIES LLC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jun 28, 2026 · issue area: Small Business
$5,250
Paid to lobbying firm
Supported nomination of Kelly Loeffler to serve as Administrator of the Small Business Administration. Supported H.R. 1199/S.695, the Small Business Investment Act of 2025," which would dramatically increase private sector investment in American small businesses by rewarding invest…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Taxation/Internal Revenue Code
$464,268
Spent on own lobbying
S. 445, The Carried Interest Fairness Act of 2025; H.R. 1091, The Carried Interest Fairness Act; S. 695, The Small Business Investment Act of 2025; H.R. 1199, The Small Business Investment Act of 2025; S. 866, The American Innovation and Jobs Act of 2025; H.R. 1990, The American Innovation and R&D Competitiveness Ac…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ANGEL CAPITAL ASSOCIATION · lobbying firm or registrant: GRAYROBINSON PA
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Taxation/Internal Revenue Code
$12,000
Paid to lobbying firm
…d to carried interest. Issues related to IRC section 1202, Small Business Stock Gains Exclusion. S. 695, Small Business Investment Act of 2025, all provisions. H.R. 1199, Small Business Investment Act of 2025, all provisions.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
JOB CREATORS NETWORK · lobbying firm or registrant: HARNED STRATEGIES LLC
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · amended · posted Apr 18, 2026 · issue area: Small Business
$5,250
Paid to lobbying firm
Supported nomination of Kelly Loeffler to serve as Administrator of the Small Business Administration. Supported H.R. 1199/S.695, the Small Business Investment Act of 2025," which would dramatically increase private sector investment in American small businesses by rewarding invest…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ALZHEIMER'S ASSOCIATION · lobbying firm or registrant: ALZHEIMER'S ASSOCIATION
2025 Q1 report (Jan 1, 2025 – Mar 31, 2025) · amended · posted Feb 2, 2026 · issue area: Health Issues
$560,000
Spent on own lobbying
…Act (S. 495/H.R.1815) Palliative Care and Hospice Education and Training Act (S. 2243) Facilitating Innovative Nuclear Diagnostics (FIND) Act of 2023 (S. 1544/H.R. 1199) Supporting Our Seniors Act (S. 2584) Alleviating Barriers for Caregiving Act (S. 3109) Credit for Caring Act of 2024 (S. 3702/H.R. 7165) Credit for Caring Act…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ANGEL CAPITAL ASSOCIATION · lobbying firm or registrant: GRAYROBINSON PA
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Taxation/Internal Revenue Code
$12,000
Paid to lobbying firm
…for American Workers and Families Act as pertaining to R&D deductibility and bonus depreciation. S. 695, Small Business Investment Act of 2025, all provisions. H.R. 1199, Small Business Investment Act of 2025, all provisions.
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Taxation/Internal Revenue Code
$722,908
Spent on own lobbying
S. 445, The Carried Interest Fairness Act of 2025; H.R. 1091, The Carried Interest Fairness Act; S. 695, The Small Business Investment Act of 2025; H.R. 1199, The Small Business Investment Act of 2025; S. 866, The American Innovation and Jobs Act of 2025; H.R. 1990, The American Innovation and R&D Competitiveness Ac…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Small Business
$17,960,000
Spent on own lobbying
H.R. 736, Protect Small Businesses from Excessive Paperwork Act of 2025 H.R. 1163/S. 495, Prove It Act of 2025 H.R. 1199/S. 695, Small Business Investment Act of 2025 H.R. 2528/S. 1847, Association Health Plans Act of 2025 H.R. 3383, Incentivizing New Ventures and Economic Streng…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · posted Jan 20, 2026 · issue area: Taxation/Internal Revenue Code
$17,960,000
Spent on own lobbying
…Tax Certainty Act H.R. 1062, Growing and Preserving Innovation in America Act of 2025 H.R. 1177/S. 492, Improve and Enhance the Work Opportunity Tax Credit Act H.R. 1199/S. 695, Small Business Investment Act of 2025 H.R. 1301/S. 587, Death Tax Repeal Act H.R. 1347/S. 559, American Investment in Manufacturing and Main Street (AI…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
JOB CREATORS NETWORK · lobbying firm or registrant: HARNED STRATEGIES LLC
2025 Q4 report (Oct 1, 2025 – Dec 31, 2025) · amended · posted Jan 19, 2026 · issue area: Small Business
$5,250
Paid to lobbying firm
Supported nomination of Kelly Loeffler to serve as Administrator of the Small Business Administration. Supported H.R. 1199/S.695, the Small Business Investment Act of 2025," which would dramatically increase private sector investment in American small businesses by rewarding invest…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
JOB CREATORS NETWORK · lobbying firm or registrant: HARNED STRATEGIES LLC
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · amended · posted Nov 6, 2025 · issue area: Small Business
$7,500
Paid to lobbying firm
Supported nomination of Kelly Loeffler to serve as Administrator of the Small Business Administration. Supported H.R. 1199/S.695, the Small Business Investment Act of 2025," which would dramatically increase private sector investment in American small businesses by rewarding invest…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
JOB CREATORS NETWORK · lobbying firm or registrant: HARNED STRATEGIES LLC
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Nov 6, 2025 · issue area: Small Business
$6,000
Paid to lobbying firm
Supported nomination of Kelly Loeffler to serve as Administrator of the Small Business Administration. Supported H.R. 1199/S.695, the Small Business Investment Act of 2025," which would dramatically increase private sector investment in American small businesses by rewarding invest…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Small Business
$13,650,000
Spent on own lobbying
H.R. 1, One Big Beautiful Bill Act H.R. 736, Protect Small Businesses from Excessive Paperwork Act of 2025 H.R. 1163/S. 495, Prove It Act of 2025 H.R. 1199/S. 695, Small Business Investment Act of 2025 H.R. 2528/S. 1847, Association Health Plans Act of 2025 S. 300, Disaster Loan Accountability and Reform Act (DLAR…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Taxation/Internal Revenue Code
$13,650,000
Spent on own lobbying
…Tax Certainty Act H.R. 1062, Growing and Preserving Innovation in America Act of 2025 H.R. 1177/S. 492, Improve and Enhance the Work Opportunity Tax Credit Act H.R. 1199/S. 695, Small Business Investment Act of 2025 H.R. 1301/S. 587, Death Tax Repeal Act H.R. 1347/S. 559, American Investment in Manufacturing and Main Street (AI…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Taxation/Internal Revenue Code
$648,117
Spent on own lobbying
S. 445, The Carried Interest Fairness Act of 2025; H.R. 1091, The Carried Interest Fairness Act; S. 695, The Small Business Investment Act of 2025; H.R. 1199, The Small Business Investment Act of 2025; S. 866, The American Innovation and Jobs Act of 2025; H.R. 1990, The American Innovation and R&D Competitiveness Ac…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ANGEL CAPITAL ASSOCIATION · lobbying firm or registrant: GRAYROBINSON PA
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Taxation/Internal Revenue Code
$18,000
Paid to lobbying firm
…for American Workers and Families Act as pertaining to R&D deductibility and bonus depreciation. S. 695, Small Business Investment Act of 2025, all provisions. H.R. 1199, Small Business Investment Act of 2025, all provisions. H.R. 1, One Big Beautiful Bill Act, provisions relating to taxes on capital gains for early start-up co…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ESHARES, INC. D/B/A CARTA, INC. · lobbying firm or registrant: ESHARES, INC. D/B/A CARTA, INC.
2025 Q3 report (Jul 1, 2025 – Sep 30, 2025) · posted Oct 20, 2025 · issue area: Taxation/Internal Revenue Code
$90,000
Spent on own lobbying
H.R. 1, One Big Beautiful Bill Act; Tax policy to support the innovation ecosystem, centered around qualified small business stock (H.R. 1199/S. 695), research and development (H.R. 1990), net operating losses, carried interest--IRC code Retirement investment in private assets--Tax-favored retirement…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
NATIONAL VENTURE CAPITAL ASSOCIATION · lobbying firm or registrant: NATIONAL VENTURE CAPITAL ASSOCIATION
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Taxation/Internal Revenue Code
$882,918
Spent on own lobbying
S. 445, The Carried Interest Fairness Act of 2025; H.R. 1091, The Carried Interest Fairness Act; S. 695, The Small Business Investment Act of 2025; H.R. 1199, The Small Business Investment Act of 2025; S. 866, The American Innovation and Jobs Act of 2025; H.R. 1990, The American Innovation and R&D Competitiveness Ac…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Small Business
$19,340,000
Spent on own lobbying
…ncy and Predictability in Small Business Opportunities Act H.R. 936, Protect Small Business from Excessive Paperwork Act H.R. 1163/S. 495, Prove It Act of 2025 H.R. 1199/S. 695, Small Business Investment Act of 2025 H.R. 1634, Think DIFFERENTLY About Disability Employment Act H.R. 1642, Connecting Small Businesses with Career a…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
CHAMBER OF COMMERCE OF THE U.S.A. · lobbying firm or registrant: CHAMBER OF COMMERCE OF THE U.S.A.
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Taxation/Internal Revenue Code
$19,340,000
Spent on own lobbying
…Protecting American Savers and Retirees Act H.R. 703/S. 213, Main Street Tax Certainty Act H.R. 1062, Growing and Preserving Innovation in America Act of 2025 H.R. 1199/S. 695, Small Business Investment Act of 2025 H.R. 1301/S. 587, Death Tax Repeal Act H.R. 1347/S. 559, American Investment in Manufacturing and Main Street (AI…
Congress inferred from the report year; bill number and the title cited with it match Congress.gov records, and the bill predates the report. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing
ESHARES, INC. D/B/A CARTA, INC. · lobbying firm or registrant: ESHARES, INC. D/B/A CARTA, INC.
2025 Q2 report (Apr 1, 2025 – Jun 30, 2025) · posted Jul 21, 2025 · issue area: Taxation/Internal Revenue Code
$140,000
Spent on own lobbying
H.R. 1, One Big Beautiful Bill Act; Tax policy to support the innovation ecosystem, centered around qualified small business stock (H.R. 1199/S. 695), research and development (H.R. 1990), net operating losses, carried interest--IRC code Retirement investment in private assets--Tax-favored retirement…
Congress inferred from the report year; bill number matches Congress.gov records and the bill predates the report; no title was cited with it. The amount is lobbying spending for every issue on this report, not this bill alone, and none of it is paid to any member of Congress. View filing