H.R. 3382 · 119th Congress
Small Entity Update Act
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Passed the House without a recorded vote. It passed by voice vote or unanimous consent, which don't record how each member voted. Its text can still change before it becomes law.
R
WagnerSponsor7 cosponsors · 5 D, 2 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced May 14, 2025
- House Passed Jul 21, 2025
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.
What it does: CRS summary · Introduced in House · May 14, 2025
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Entity Update Act
Latest action (Jul 22, 2025): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 14, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced May 14, 2025
- House Passed Jul 21, 2025
No recorded floor vote found.