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Bill119th CongressFiled May 14, 2025Finance and Financial Sector
H.R. 3382

Small Entity Update Act

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary 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.

What just happenedJul 22, 2025

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

Who’s behind it

Rep. Wagner, Ann [R-MO-2](R-MO)Sponsor
7 cosponsors5 D2 R
Read on Congress.gov
7cosponsors2committees15actions1related bills
  1. Jul 22, 2025IntroReferral

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

    Banking, Housing, and Urban Affairs Committee
  2. Jul 21, 2025FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jul 21, 2025FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)

  4. Jul 21, 2025Floor8000

    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)

  5. Jul 21, 2025FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3382.

  6. Jul 21, 2025FloorH30000

    Considered under suspension of the rules. (consideration: CR H3500-3501)

  7. Jul 21, 2025FloorH30300

    Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.

  8. Jun 3, 2025CalendarsH12410

    Placed on the Union Calendar, Calendar No. 95.

  9. Jun 3, 2025CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.

    Financial Services Committee
  10. Jun 3, 2025Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.

    Financial Services Committee
  11. May 20, 2025CommitteeH19000

    Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.

    Financial Services Committee
  12. May 20, 2025CommitteeH15001

    Committee Consideration and Mark-up Session Held

    Financial Services Committee
  13. May 14, 2025IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  14. May 14, 2025IntroReferralIntro-H

    Introduced in House

  15. May 14, 2025IntroReferral1000

    Introduced in House