Creates an exemption from federal securities registration and disclosure requirements for offerings by a company that total up to $500,000 in any 12-month period, while keeping the antifraud rules in force.

• Exempts an issuer's securities offerings totaling up to $500,000 in any 12-month period from the Securities Act's registration and offering filing requirements, including offerings by entities under common control with the issuer.
• Keeps the federal antifraud provisions applicable to these offerings.
• Adjusts the $500,000 threshold at least every 5 years based on Consumer Price Index changes, rounded to the nearest $10,000.
• Denies the exemption to issuers and covered persons subject to bad actor disqualifications under SEC Rule 506(d) or statutory disqualifications under the Securities Exchange Act of 1934.
• Adds the exemption to the list in Section 18(b)(4) of the Securities Act, which governs the securities that states may not subject to their own registration requirements.

• Financial Services Committee (House)

Finance and Financial Sector