Small Entity Update Act
- Last Action
- 7/22/2025
Actions
- 2025-07-22Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2025-07-21Motion to reconsider laid on the table Agreed to without objection.
- 2025-07-21On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)
- 2025-07-21Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)
- 2025-07-21DEBATE - The House proceeded with forty minutes of debate on H.R. 3382.
- 2025-07-21Considered under suspension of the rules. (consideration: CR H3500-3501)
- 2025-07-21Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- 2025-06-03Placed on the Union Calendar, Calendar No. 95.
- 2025-06-03Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.
- 2025-06-03Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.
- 2025-05-20Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
- 2025-05-20Committee Consideration and Mark-up Session Held
- 2025-05-14Referred to the House Committee on Financial Services.
- 2025-05-14Introduced in House
- 2025-05-14Introduced in House
CRS Summary
As of 2025-05-14 (00)
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.
Cosponsors (7)
- Ritchie Torres (D-NY)
- Sean Casten (D-IL)
- David Scott (D-GA)
- Pete Sessions (R-TX)
- James Himes (D-CT)
- Eugene Vindman (D-VA)
- Michael Lawler (R-NY)
Subjects
- Administrative law and regulatory procedures
- Congressional oversight
- Government studies and investigations
- Securities and Exchange Commission (SEC)
- Small business
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.