I
118THCONGRESS
1
STSESSION H. R. 2578
To amend the Investment Advisers Act of 1940 to increase the exemption
from registration threshold for certain investment advisers of private
funds to reflect the change in inflation.
IN THE HOUSE OF REPRESENTATIVES
APRIL13, 2023
Mr. B
ARRintroduced the following bill; which was referred to the Committee
on Financial Services
A BILL
To amend the Investment Advisers Act of 1940 to increase
the exemption from registration threshold for certain in-
vestment advisers of private funds to reflect the change
in inflation.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Small Business Inves-4
tor Capital Access Act’’. 5
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•HR 2578 IH
SEC. 2. INFLATION ADJUSTMENT FOR THE EXEMPTION 1
THRESHOLD FOR CERTAIN INVESTMENT AD-2
VISERS OF PRIVATE FUNDS. 3
Section 203(m) of the Investment Advisers Act of 4
1940 (15 U.S.C. 80b–3(m)) is amended by adding at the 5
end the following: 6
‘‘(4) I
NFLATION ADJUSTMENT .—The Commis-7
sion shall adjust the dollar amount described under 8
paragraph (1)— 9
‘‘(A) upon enactment of this paragraph, to 10
reflect the change in the Consumer Price Index 11
for All Urban Consumers published by the Bu-12
reau of Labor Statistics of the Department of 13
Labor between the date of enactment of the 14
Private Fund Investment Advisers Registration 15
Act of 2010 and the date of enactment of this 16
paragraph; and 17
‘‘(B) annually thereafter, to reflect the 18
change in the Consumer Price Index for All 19
Urban Consumers published by the Bureau of 20
Labor Statistics of the Department of Labor.’’. 21
Æ
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