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HR. 3382 · 119th Congress

Small Entity Update Act

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Bill details

Introduced: 5/14/2025
Status: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill ID: 119hr3382
Latest action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

Introduced in House

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.

Source: BILLSUM · Summary date: 5/14/2025

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Summary source label: BILLSUM
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About this data

Non-partisan by design
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Official sources
Data is sourced from official government records (e.g., Congress.gov, GovInfo, Clerk of the House, and the U.S. Senate).
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Last updated: 5/14/2025Source: BILLSUMBill: 119hr3382Learn more →