To amend the Securities Exchange Act of 1934 to expand access to capital for rural-area small businesses, and for other purposes.

Referred to the House Committee on Financial Services.

Bill 119 HR 1190, also known as the Expanding Access to Capital for Rural Small Businesses Act, aims to make it easier for small businesses in rural areas to access capital. The bill proposes amendments to the Securities Exchange Act of 1934 in order to achieve this goal.

One key provision of the bill is the expansion of the definition of "accredited investor" to include individuals with certain professional certifications or credentials, in addition to the traditional income and net worth requirements. This change is intended to broaden the pool of potential investors for rural small businesses seeking capital.

Another important aspect of the bill is the creation of a new exemption from registration requirements for certain securities offerings made by rural small businesses. This exemption would allow these businesses to raise capital without having to go through the costly and time-consuming process of registering with the Securities and Exchange Commission. Overall, the Expanding Access to Capital for Rural Small Businesses Act seeks to level the playing field for small businesses in rural areas, making it easier for them to access the capital they need to grow and thrive.