CONGRESS FOR VOTERS

RepublicanBill · S. 4690· Senate(119-S-4690)

Encouraging Public Offerings Act of 2026

Rep. Budd
Age: 55 years
North Carolina
Introduced
6/4/2026
Last activity
6/4/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsored by
Ted Budd
Cosponsors
Republican - 2Democrat - 3
Finance and Financial Sector
  1. Introduced
  2. In Committee

What this bill would do

This bill is called the Encouraging Public Offerings Act of 2026. It amends the Securities Act of 1933 to expand the ability of issuers to use testing the waters communications and confidential draft registration submissions. Under the text, any issuer, rather than just an emerging growth company, may engage in oral or written communications to gauge market interest before or during a public offering. Additionally, any issuer may confidentially submit a draft registration statement for nonpublic review prior to an initial public offering or within one year after an initial public offering or exchange registration. The text requires these submissions and amendments to be publicly filed at least 15 days before a road show or the requested effective date. The Commission is also granted the power to set additional requirements through regulations and must submit a report of findings to Congress prior to that rulemaking.

Yes· 3 of 7

  • Does this make it easier to run a small business?+4

    Broadens access to confidential registration and market testing tools for smaller or non-emerging growth companies looking to enter public markets.

  • Would business owners be better off under this?+4

    Benefits business owners and issuers by making the public offering process more flexible and confidential.

  • Is this likely to grow the economy?+3

    Expands the ability to use testing the waters and confidential draft registration statements to all issuers, potentially encouraging more companies to go public.

The opposite

No question was scored the opposite.