Congress·In Committee·S. 1808

Investment Fund Fee Disclosures: Excluding Certain Small-Business Lending Fees

Access to Small Business Investor Capital Act

⏸

Stalled

No legislative action in over 90 days.

Legislative Progress

Senate

House

President

Law

Allows mutual funds and similar investment funds to leave out some fees when they invest through business development companies.
This changes what shows up in the “fees and expenses” part of fund paperwork investors may see when comparing funds.
Supporters may argue it makes fund fee disclosures clearer for certain investments tied to small-business financing; critics may worry it hides real costs.
If you invest in a fund that puts money into these small-business-lending companies, the listed fee number could look lower even if costs still exist.
The Securities and Exchange Commission would still oversee the registration forms, but Congress would be setting this specific disclosure rule.

Consumer ProtectionSmall BusinessEconomy

2 milestones2 actions

May 20, 2025Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

May 20, 2025

Introduced in Senate

Document Type

Congressional Bill

Official Title

Access to Small Business Investor Capital Act

Bill NumberS 1808

Congress119th Congress

ChamberSenate

Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

(11)

D: 6R: 5

Congress.gov

Official legislative information

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