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H.R. 9478 117th Congress House

Improving Crowdfunding Opportunities Act

Official title: To amend the Securities Act of 1933 to preempt State securities law requiring registration for secondary transactions, and for other purposes.

Introduced: December 8, 2022 See on congress.gov
Finance and Financial Sector
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 8, 2022
Referred to the House Committee on Financial Services.
Dec 8, 2022
Introduced in House
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 Latest action December 8, 2022

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Improving Crowdfunding Opportunities Act

This bill reduces regulations applicable to crowdfunding securities and portals. Crowdfunding is used to raise capital through a large number of individuals investing potentially small amounts of money.

The bill exempts certain securities issued under crowdfunding regulations from state regulation of secondary transactions. It also exempts crowdfunding portals from certain anti-money laundering reporting and recordkeeping requirements. Finally, crowdfunding portals are exempted from liability for material misstatements or omissions unless the portal knowingly makes certain untrue statements or engages in fraud or deceit.

 Related & companion bills 1
  • S 3967 Identical bill Improving Crowdfunding Opportunities Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 9478: Improving Crowdfunding Opportunities Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-9478/
MLA
"H.R. 9478: Improving Crowdfunding Opportunities Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-9478/.
Bluebook (legal)
H.R. 9478, 117th Cong. (2026), https://openamerica.io/bill/117-HR-9478/.
Markdown link
[H.R. 9478: Improving Crowdfunding Opportunities Act](https://openamerica.io/bill/117-HR-9478/)
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