Bill · S. 5003· Senate(119-S-5003)
ACCESS Rural America Act
- Introduced
- 7/15/2026
- Last activity
- 7/15/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Tammy Baldwin
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
The ACCESS Rural America Act amends the Securities Exchange Act of 1934. It creates a registration exemption for securities issued by rural telephone companies that provide broadband internet access service. To qualify, these companies must file a financial summary form with the Commission and deliver it to record holders. This form must include balance sheets, income statements, and subscriber data. The exemption applies to companies with no more than 100,000 broadband subscribers. Additionally, the security must be held by more than 500 non-accredited investors but fewer than 2,000 persons.
Yes· 3 of 10
Would people in rural areas be better off under this?+9
Directly targets the expansion of essential digital infrastructure in rural communities.
Does this get reliable internet to more people?+8
Facilitates capital raising for rural companies specifically to provide broadband internet access.
Would business owners be better off under this?+7
Directly benefits owners of rural telephone companies by lowering barriers to raising capital.
The opposite
Does this make what the government does easier for the public to see?-3
Reduces the level of detailed financial disclosure required for certain security offerings.
Does this give people more protection from unfair business practices?-2
Investors receive a summary financial form rather than full registration disclosures, potentially increasing risk.
Who it would affect, and how
Potential Positive Impacts for People
- Increased Access to Capital: Rural telephone companies providing broadband can use this registration exemption to raise money, which may support economic strength in rural areas. This is found in Section 2 and the short title.
Potential Negative Impacts for People
- Limited Financial Disclosure: Investors may receive a "financial summary form" instead of full registration disclosures, which contains only a summary of the balance sheet, income statement, and specific subscriber data. This is detailed in Section 2.
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 Rural Residents+9Good For Business Owners+7Good For Farmers+4Good For Low Income Households+2Good For Students+2
- Economy And Finance
- Improves Small Business Support+6Improves Economic Growth+3Increases Job Creation+2Improves Consumer Protection-2
- Education And Technology
- Improves Internet Access+8
- Environment Energy And Infrastructure
- Improves Rural Development+7
- Governance And Ideology
- Improves Government Transparency-3
- 7/15/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
Joni ErnstRepublican · Iowa