119th Congress Finance and Financial Sector
H.R. 3382: Small Entity Update Act
Passed House
- Introduced (completed)
- Passed House (completed)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill requires the Securities and Exchange Commission (SEC) to study approaches to reduce the impact of SEC rules on small businesses and other small entities, make appropriate recommendations, and revise applicable rules.
Specifically, the bill requires the SEC to evaluate the current definition of small entity with respect to SEC rules.
Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of small entity to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered. In addition, the SEC must adjust for inflation every five years any dollar amounts used to define small entities.
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The SEC must also revise the applicable rules to implement these recommendations.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Sean Casten D-ILOriginal
- Pete Sessions R-TXOriginal
- David Scott D-GAOriginal
- Ritchie Torres D-NYOriginal
- James Himes D-CT
- Eugene Vindman D-VA
- Michael Lawler R-NY
Who scored on this bill
- 1Ann Wagner SponsorDrew cross-party cosponsors, introduced, marked up, reported, passed House5 events+68
- 2Sean CastenCosponsored; cosponsored bill passed2 events+4
- 2James HimesCosponsored; cosponsored bill passed2 events+4
- 2Michael LawlerCosponsored; cosponsored bill passed2 events+4
- 2David ScottCosponsored; cosponsored bill passed2 events+4
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Ann Wagner
- H.R. 9329: SEC Reform and Restructuring Act
- H.R. 8359: To change the address of the postal facility designated in honor of Specialist Jeffrey L. White, Jr.
- H.R. 2478: Financial Exploitation Prevention Act of 2025
- H.R. 8169: Export Control Enforcement and Enhancement Act
- H.R. 909: Crime Victims Fund Stabilization Act of 2025
- H.R. 3383: Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025
History
- Passed the House by voice vote.
- Introduced in the House by Ann Wagner.
Show the full action history (13 actions)
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- Considered under suspension of the rules. (consideration: CR H3500-3501)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 3382.
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)
- Motion to reconsider laid on the table Agreed to without objection.
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.
- Placed on the Union Calendar, Calendar No. 95.
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
- Introduced in House
- Referred to the House Committee on Financial Services.