HOUSE FINANCIAL SERVICES COMMITTEE ADVANCES TWO STUTZMAN BILLS

WASHINGTON, DC – Today, the House Financial Services Committee passed two pieces of legislation introduced by Congressman Marlin Stutzman (IN-03):

This legislation will support the growth of small to mid-size businesses and expand investment opportunities for Americans across the country by increasing the offering limit for Regulation A Tier 2 offerings. These offerings provide a more accessible and cost-effective way for mid-sized and smaller companies to raise capital from a wider range of investors, with less government red tape and compliance costs.

The bill doubles the offering limit of Reg A Tier 2 offerings from $75 million annually to $150 million annually and requires the offering limit to be adjusted every two years to the nearest $10,000 to reflect the changes in inflation.

This adjustment will help more mid-size or smaller companies raise capital, create growth, jobs, and make important investments in research and development.

This legislation was passed as part of the Housing for the 21st Century Act.

The bill will streamline environmental reviews for rural housing projects that utilize both HUD and USDA programs. Typically, rural housing projects that utilize both HUD and USDA assistance must undergo slightly different but separate environmental reviews and inspections to receive funding. This creates unnecessary government roadblocks for developers and drives up costs, ultimately contributing to the affordable housing shortage in rural communities nationwide.

The bill requires HUD and USDA to evaluate the feasibility of a joint environmental review and inspection process for these projects, as well as categorical exclusion for jointly funded projects, making affordable rural housing easier to build and cutting burdensome government red tape.

“Both of my bills that were advanced out of the House Financial Services Committee today will eliminate bureaucratic red tape that makes life harder for Americans,” said Rep. Stutzman. “My Streamlining Rural Housing Act will put Hoosiers and other Americans living in rural areas in homes more quickly and utilize less taxpayer money in the process. My Regulation A+ Improvement Act will allow more mid-size and small companies to participate in American public markets and grow their businesses. I thank Chairman French Hill for helping push both bills across the finish line.”