Expanding WKSI Eligibility Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 3749 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 3749 To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES January 29, 2026 Mr. McCormick (for himself and Ms. Blunt Rochester) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To lower the aggregate market value of voting and non-voting common equity necessary for an issuer to qualify as a well-known seasoned issuer. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Expanding WKSI Eligibility Act''. SEC. 2. DEFINITION OF WELL-KNOWN SEASONED ISSUER. (a) In General.--For purposes of the Federal securities laws, and regulations issued thereunder, an issuer shall be a ``well-known seasoned issuer'' if-- (1) the aggregate market value of the voting and non-voting common equity held by non-affiliates of the issuer is $400,000,000 or more (as determined under Form S-3 general instruction I.B.1. as in effect on the date of enactment of this Act); and (2) the issuer otherwise satisfies the requirements of the definition of ``well-known seasoned issuer'' contained in section 230.405 of title 17, Code of Federal Regulations (as in effect on the date of enactment of this Act) without reference to any requirement in such definition relating to minimum worldwide market value of outstanding voting and non-voting common equity held by non-affiliates. (b) Report on Withdrawn Applications Related to Well-Known Seasoned Issuer Status.--The Securities and Exchange Commission shal