H.R. 3645 explained · 119th Congress · Pending in Congress
ACCESS Act of 2025
Cosponsors: 4 (0 D, 4 R) · per Congress.gov, 2026-10-11
Introduced: 2025-05-29
Latest action (2025-07-15): Placed on the Union Calendar, Calendar No. 166.
What H.R. 3645 does, in plain terms
Amendment for Crowdfunding Capital Enhancement and Small-business Support Act of 2025 or the ACCESS Act of 2025 This bill expands the exemption from certain disclosures applicable to crowdfunding issuers with specified target offering amounts. (Crowdfunding is used to raise capital through a large number of individuals investing potentially small amounts of money.) Under current law, crowdfunding issuers that have target offering amounts of $100,000 or less are not required to make available financial statements reviewed by an independent public accountant. The bill increases that amount to $250,000 and allows the Securities and Exchange Commission to increase this amount to no more than $400,000 upon recommendation of the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate.
Official summary by the Congressional Research Service, via Congress.gov.
Constitution Index
“VFA Constitution grade”
Not graded yet
H.R. 3645 has not been graded yet. New measures with an official summary are graded daily under the published rubric.
What should pass
“VFA SI Solution”
No solution yet
A sourced SI draft appears here once it passes automated checks (Constitution citation, source verification, independent SI critic). How publication works.
For journalists and bloggers
“Embed this grade”
Free to use with the link back. The badge and card update when the grade changes. Embed terms →
