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H.R. 3382 House Finance and Financial Sector

Small Entity Update Act

Introduced
May 14, 2025
Sponsor
Rep. Wagner, Ann (R-MO-2)
View on Congress.gov

STAGE 4 OF 8 — HOUSE FLOOR

Currently in the House. Last action: received in the senate and read twice and referred to the committee on banking, housing, and urban affairs on Jul 22, 2025.

  1. House Introduced in House May 14, 2025
  2. House Referred to the House Committee on Financial Services. May 14, 2025
  3. House Committee Consideration and Mark-up Session Held May 20, 2025
  4. House Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0. May 20, 2025
  5. House Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125. Jun 3, 2025
  6. House Placed on the Union Calendar, Calendar No. 95. Jun 3, 2025
  7. House Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended. Jul 21, 2025
  8. House Considered under suspension of the rules. (consideration: CR H3500-3501) Jul 21, 2025
  9. House DEBATE - The House proceeded with forty minutes of debate on H.R. 3382. Jul 21, 2025
  10. House 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
  11. House On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500) Jul 21, 2025
  12. House Motion to reconsider laid on the table Agreed to without objection. Jul 21, 2025
  13. Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Jul 22, 2025

Cosponsors

7

Subjects

Administrative law and regulatory proceduresCongressional oversightGovernment studies and investigationsSecurities and Exchange Commission (SEC)Small business

Committees

  • Banking, Housing, and Urban Affairs Committee
    • Referred To , Jul 22, 2025
  • Financial Services Committee
    • Reported By , Jun 3, 2025
    • Markup By , May 20, 2025
    • Referred To , May 14, 2025

Summary

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.

Summary as of: Introduced in House

Bill Text

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Related Bills

  • Small Entity Update Act (Related bill)

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