119th Congress · introduced in the House · Mar 18, 2025
Access to Small Business Investor Capital Act
Official title from Congress.gov
Latest action (Jun 24, 2025): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
View on Congress.govPolicy area: Finance and Financial Sector
Congressional Research Service summary, version: Introduced in House (Mar 18, 2025)
Access to Small Business Investor Capital Act
This bill allows a registered investment company to exclude from the calculation of acquired fund fees and expenses those incurred indirectly from investment in a business development company. Acquired fund fees and expenses is a required line item on a fund's fee schedule that provides the operating expenses of the fund.
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.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2868)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2868)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2225.
Considered under suspension of the rules. (consideration: CR H2868-2869)
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 96.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-126.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-126.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Actions from Congress.gov, newest first.
Business investment and capital · Financial services and investments · User charges and fees
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.
77 citations; showing the 25 most recently posted.
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$110,000
Spent on own lobbying
H.R. 2225/S. 1808, Access to Small Business Investor Capital Act, all provisions. H.R 3383, Increasing Investor Opportunities Act, provisions related to BDCs, closed-end…
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
SMALL BUSINESS INVESTOR ALLIANCE (SBIA) · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$20,000
Paid to lobbying firm
…ses while encouraging capital formation and investment. Efforts to expand access to long-term patient capital while opposing tax increases on small businesses. H.R.2225 - Access to Small Business Investor Capital Act. H.R.754 - Investing in Main Street Act of 2025.
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
SMALL BUSINESS INVESTOR ALLIANCE (SBIA) · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Small Business
$20,000
Paid to lobbying firm
…ses while encouraging capital formation and investment. Efforts to expand access to long-term patient capital while opposing tax increases on small businesses. H.R.2225 - Access to Small Business Investor Capital Act. H.R.754 - Investing in Main Street Act of 2025.
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
SMALL BUSINESS INVESTOR ALLIANCE (SBIA) · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Taxation/Internal Revenue Code
$20,000
Paid to lobbying firm
…ses while encouraging capital formation and investment. Efforts to expand access to long-term patient capital while opposing tax increases on small businesses. H.R.2225 - Access to Small Business Investor Capital Act. H.R.754 - Investing in Main Street Act of 2025.
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
BLUE OWL CAPITAL HOLDINGS LLC · lobbying firm or registrant: ARNOLD & PORTER KAYE SCHOLER LLP
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$30,000
Paid to lobbying firm
Issues relating to the regulation of business development companies, including AFFE and the Access to Small Business Investor Capital Act (S.1808/H.R.2225).
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
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$280,000
Spent on own lobbying
…Act (NDAA) S. 1071, including the COINS Act, the Comprehensive Outbound Investment National Security Act of 2025 Business Development Company issues including H.R. 2225 & S. 1808 - the Access to Small Business Investor Capital Act E-delivery initiatives including H.R. 2441 & S. 1877, the Improving Disclosure for Investors Act…
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.
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$16,480,000
Spent on own lobbying
…b Creators Act H.R. 1467/S. 4055, Senior Security Act of 2026 H.R. 1469, Senior Security Act of 2025 H.R. 1799, Financial Reporting Threshold Modernization Act H.R. 2225/S. 1808, Access to Small Business Investor Capital Act H.R. 2441/S. 1877, Improving Disclosure for Investors Act of 2025 H.R. 2675/S. 3180, Protecting Our Cour…
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
MANAGED FUNDS ASSOCIATION · lobbying firm or registrant: MANAGED FUNDS ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 20, 2026 · issue area: Financial Institutions/Investments/Securities
$1,130,000
Spent on own lobbying
H.R. 2225/S. 1808, Access to Small Business Investor Capital Act H.R. 3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 H.R. 3…
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
COALITION FOR BUSINESS DEVELOPMENT · lobbying firm or registrant: BROWNSTEIN HYATT FARBER SCHRECK, LLP
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 16, 2026 · issue area: Financial Institutions/Investments/Securities
$90,000
Paid to lobbying firm
Issues related to Business Development Companies HR2225 - Access to Small Business Investor Capital Act
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
SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION · lobbying firm or registrant: SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION
2026 Q3 report (Jul 1, 2026 – Sep 30, 2026) · posted Oct 14, 2026 · issue area: Banking
$1,810,000
Spent on own lobbying
…curity Act of 2025; H.R. 1483, Protecting Investors Personally Identifiable Information Act; H.R. 2441/S. 1877, Improving Disclosure for Investors Act of 2025; H.R. 2225, the Access to Small Business Investor Capital Act; H.R. 3381, Encouraging Public Offerings of 2025; H.R. 3383, Incentivizing New Ventures and Economic Strengt…
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
FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.) · lobbying firm or registrant: FRANKLIN TEMPLETON, INC. AND AFFILIATES (FORMERLY FRANKLIN RESOURCES, INC.)
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · amended · posted Jul 22, 2026 · issue area: Financial Institutions/Investments/Securities
$270,000
Spent on own lobbying
…n Act (NDAA) S. 1071 including the COINS Act, the Comprehensive Outbound Investment National Security Act of 2025 Business Development Company issues including H.R. 2225 & S. 1808 - the Access to Small Business Investor Capital Act E-delivery initiatives including H.R. 2441 & S 1877, the Improving Disclosure for Investors Act R…
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
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$120,000
Spent on own lobbying
H.R. 2225/S. 1808, Access to Small Business Investor Capital Act, all provisions. H.R 3383, Increasing Investor Opportunities Act, all provisions. H.R. 3339, Equal Oppor…
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.
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$16,950,000
Spent on own lobbying
…b Creators Act H.R. 1467/S. 4055, Senior Security Act of 2026 H.R. 1469, Senior Security Act of 2025 H.R. 1799, Financial Reporting Threshold Modernization Act H.R. 2225/S. 1808, Access to Small Business Investor Capital Act H.R. 2441/S. 1877, Improving Disclosure for Investors Act of 2025 H.R. 2675/S. 3180, Protecting Our Cour…
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
BLUE OWL CAPITAL HOLDINGS LLC · lobbying firm or registrant: ARNOLD & PORTER KAYE SCHOLER LLP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$80,000
Paid to lobbying firm
Issues relating to the regulation of business development companies, including AFFE and the Access to Small Business Investor Capital Act (S.1808/H.R.2225).
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
AMERICAN INVESTMENT COUNCIL F/K/A PEGCC · lobbying firm or registrant: AMERICAN INVESTMENT COUNCIL F/K/A PEGCC
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$610,000
Spent on own lobbying
Domestic and International regulations affecting private equity and credit; The Access to small business investor capital act (H.R. 2225/S. 1808); fY2026 Appropriations
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
SMALL BUSINESS INVESTOR ALLIANCE (SBIA) · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Financial Institutions/Investments/Securities
$20,000
Paid to lobbying firm
…ses while encouraging capital formation and investment. Efforts to expand access to long-term patient capital while opposing tax increases on small businesses. H.R.2225 - Access to Small Business Investor Capital Act. H.R.754 - Investing in Main Street Act of 2025.
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
SMALL BUSINESS INVESTOR ALLIANCE (SBIA) · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Small Business
$20,000
Paid to lobbying firm
…ses while encouraging capital formation and investment. Efforts to expand access to long-term patient capital while opposing tax increases on small businesses. H.R.2225 - Access to Small Business Investor Capital Act. H.R.754 - Investing in Main Street Act of 2025.
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
SMALL BUSINESS INVESTOR ALLIANCE (SBIA) · lobbying firm or registrant: THORN RUN PARTNERS
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 20, 2026 · issue area: Taxation/Internal Revenue Code
$20,000
Paid to lobbying firm
…ses while encouraging capital formation and investment. Efforts to expand access to long-term patient capital while opposing tax increases on small businesses. H.R.2225 - Access to Small Business Investor Capital Act. H.R.754 - Investing in Main Street Act of 2025.
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
COALITION FOR BUSINESS DEVELOPMENT · lobbying firm or registrant: BROWNSTEIN HYATT FARBER SCHRECK, LLP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 16, 2026 · issue area: Financial Institutions/Investments/Securities
$90,000
Paid to lobbying firm
Issues related to Business Development Companies HR2225 - Access to Small Business Investor Capital Act
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
ARES MANAGEMENT · lobbying firm or registrant: BROWNSTEIN HYATT FARBER SCHRECK, LLP
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 15, 2026 · issue area: Retirement
$50,000
Paid to lobbying firm
Issues related to private equity; Mark to market proposals Issues related to retirement Issues involving business development companies (BDCs) HR2225 - Access to Small Business Investor Capital Act
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.
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · amended · posted Jul 14, 2026 · issue area: Financial Institutions/Investments/Securities
$19,750,000
Spent on own lobbying
…otential amendments thereto H.R. 1190/S. 577, Expanding Access to Capital for Rural Job Creators Act H.R. 1799, Financial Reporting Threshold Modernization Act H.R. 2225/S. 1808, Access to Small Business Investor Capital Act H.R. 2441/S. 1877, Improving Disclosure for Investors Act of 2025 H.R. 2675/S. 3180, Protecting Our Cour…
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
SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION · lobbying firm or registrant: SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION
2026 Q2 report (Apr 1, 2026 – Jun 30, 2026) · posted Jul 10, 2026 · issue area: Banking
$1,930,000
Spent on own lobbying
…curity Act of 2025; H.R. 1483, Protecting Investors Personally Identifiable Information Act; H.R. 2441/S. 1877, Improving Disclosure for Investors Act of 2025; H.R. 2225, the Access to Small Business Investor Capital Act; H.R. 2358, Insuring Sound Guidance Act; H.R. 3381, Encouraging Public Offerings of 2025; H.R. 3383, Incenti…
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
AMERICAN INVESTMENT COUNCIL F/K/A PEGCC · lobbying firm or registrant: AMERICAN INVESTMENT COUNCIL F/K/A PEGCC
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$680,000
Spent on own lobbying
Domestic and International regulations affecting private equity and credit; The Access to small business investor capital act (H.R. 2225/S. 1808); fY2025 Appropriations
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
FUTURE STANDARD · lobbying firm or registrant: FUTURE STANDARD
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$140,000
Spent on own lobbying
H.R. 2225/S. 1808, Access to Small Business Investor Capital Act, all provisions. H.R 3383, Increasing Investor Opportunities Act, all provisions. H.R. 3339, Equal Oppor…
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
BLUE OWL CAPITAL HOLDINGS LLC · lobbying firm or registrant: ARNOLD & PORTER KAYE SCHOLER LLP
2026 Q1 report (Jan 1, 2026 – Mar 31, 2026) · posted Apr 20, 2026 · issue area: Financial Institutions/Investments/Securities
$80,000
Paid to lobbying firm
Issues relating to the regulation of business development companies, including AFFE and the Access to Small Business Investor Capital Act (S.1808/H.R.2225).
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