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Bill · 119th Congress · HR 3382
Small Entity Update Act
Refreshed 2 h ago
Introduced 2025-05-14Topic: economy jobsSummary
Summary by the Congressional Research ServiceSmall Entity Update Act 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. The SEC must also revise the applicable rules to implement these recommendations.
Sponsors
- Ann Wagner Republican sponsor
- 6 cosponsors
Action history
| Date | Chamber | Action | Status effect |
|---|---|---|---|
| 2025-07-22 | Senate | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | refer |
| 2025-07-21 | House | Motion to reconsider laid on the table Agreed to without objection. | |
| 2025-07-21 | House | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500) | |
| 2025-07-21 | 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) | floor pass | |
| 2025-07-21 | House | DEBATE - The House proceeded with forty minutes of debate on H.R. 3382. | |
| 2025-07-21 | House | Considered under suspension of the rules. (consideration: CR H3500-3501) | |
| 2025-07-21 | House | Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended. | |
| 2025-06-03 | House | Placed on the Union Calendar, Calendar No. 95. | |
| 2025-06-03 | House | Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125. | report |
| 2025-06-03 | Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125. | report | |
| 2025-05-20 | House | Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0. | refer |
| 2025-05-20 | House | Committee Consideration and Mark-up Session Held | refer |
| 2025-05-14 | House | Referred to the House Committee on Financial Services. | refer |
| 2025-05-14 | Introduced in House | introduce | |
| 2025-05-14 | Introduced in House | introduce |