OPENING THE RECORD
OPENING THE RECORD
H.R. 3135 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
CONGRESSIONAL RESEARCH SERVICE
Regulation Advancement for Capital Enhancement Act of 2025 or the RACE Act of 2025
This bill allows issuers with offerings that were previously exempted from securities registration requirements to issue an additional class of securities if certain criteria are met.
Specifically, this bill allows an issuer who issued securities under Regulation A (a small offering of securities exempt from registration requirements) to issue an additional class of securities if the securities in the additional class are substantially similar to the original class and the offering amount does not exceed specified dollar limits. However, the securities offered in the additional class are not required to have the same nature or terms.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.