H.R. 3301 · Where this bill is now
In the Senate
Passed the House Jun 23, 2025. Received Jun 24, 2025; no Senate vote yet
What this bill does
In plain words · AI-written from the official summaryReduces filing requirements for emerging growth companies
This bill gives emerging growth companies a break on financial paperwork when they register with the Securities and Exchange Commission (SEC). Instead of providing profit and loss statements from the past three years, these smaller companies would only need to submit two years of statements. The bill also lets any company submit a draft registration statement to the SEC for private review before making it public.
How it affects you
If you're an investor or entrepreneur involved with an emerging growth company, this could make it simpler and faster for that company to go public or raise money. Smaller, newer companies get some relief from the SEC's paperwork burden, which could mean they spend less time and money on compliance.
Read the official summary (Introduced in House, May 8, 2025)
This bill provides statutory authority for certain requirements related to registration statements submitted to the Securities and Exchange Commission (SEC).
First, the bill allows under statute an emerging growth company to submit profit and loss statements from the previous two years, rather than the previous three years as is required of other reporting companies. In addition, the bill allows under statute any issuer of securities to submit a draft registration statement to the SEC for confidential review prior to a public filing.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 3301
AN ACT
Encouraging Local Emerging Ventures and Economic Growth Act of 2025
ELEVATE Act of 2025
Sponsor: Rep. Zachary Nunn (R-IA-3) · Introduced May 8, 2025 · Finance and Financial Sector · 4 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jun 24, 2025: “Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”