Bill · S. 3749· Senate(119-S-3749)
Expanding WKSI Eligibility Act
- Introduced
- 1/29/2026
- Last activity
- 1/29/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- David McCormick
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the ``Expanding WKSI Eligibility Act'', aims to change the rules for becoming a well-known seasoned issuer. It proposes to lower the amount of aggregate market value of voting and non-voting common equity required for an issuer to qualify. Specifically, an issuer would qualify if the value held by non-affiliates is $400,000,000 or more. The bill also requires the Securities and Exchange Commission to publish an annual report. This report must include the total number of withdrawn applications from those seeking to avoid being considered an ineligible issuer to meet the well-known seasoned issuer definition.
Yes· 3 of 5
Would business owners be better off under this?+5
The bill reduces the barriers for company owners to achieve well-known seasoned issuer status.
Is this likely to grow the economy?+3
Lowering the equity threshold for WKSI status facilitates easier capital raising for companies.
Does this make what the government does easier for the public to see?+3
The bill mandates annual SEC reporting on withdrawn applications regarding WKSI status.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Easier Qualification for Issuer Status: By lowering the required aggregate market value of equity to $400,000,000, certain issuers may more easily qualify as a "well-known seasoned issuer" under Section 2, subsection (a).
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Increased Transparency: The Securities and Exchange Commission will be required to publish a report every 90 days after the end of each calendar year regarding withdrawn applications, which provides specific data on how many applicants withdrew their requests to meet the well-known seasoned issuer definition under Section 2, subsection (b).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+5Good For High Income Households+2
- Economy And Finance
- Improves Economic Growth+3Improves Small Business Support+2
- Governance And Ideology
- Improves Government Transparency+3
- 1/29/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Lisa Blunt RochesterDemocrat · Delaware