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HR 3382 119th Congress House Finance and Financial Sector

Small Entity Update Act

Introduced: May 14, 2025 Introduced by: Wagner, Ann Republican · Missouri See on congress.gov
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 Everywhere this bill has been 13 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 22, 2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 21, 2025
Motion to reconsider laid on the table Agreed to without objection.
Jul 21, 2025
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)
Jul 21, 2025
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)
Jul 21, 2025
DEBATE - The House proceeded with forty minutes of debate on H.R. 3382.
Jul 21, 2025
Considered under suspension of the rules. (consideration: CR H3500-3501)
Jul 21, 2025
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
Jun 3, 2025
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.
Jun 3, 2025
Placed on the Union Calendar, Calendar No. 95.
May 20, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
May 20, 2025
Committee Consideration and Mark-up Session Held
May 14, 2025
Introduced in House
May 14, 2025
Referred to the House Committee on Financial Services.
 Plain-English summary Congressional Research Service

Small 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.

What's happening now July 22, 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Cosponsors 4 matching
All 6 Democratic 4 Republican 2
Clear