H.R. 3382 · Where this bill is now
In the Senate
Passed the House Jul 21, 2025. Received Jul 22, 2025; no Senate vote yet
What this bill does
In plain words · AI-written from the official summarySEC studies how to help small businesses comply
The bill asks the Securities and Exchange Commission (SEC)—the federal agency that oversees financial markets and companies—to examine and update its definition of what counts as a small business or small entity. The SEC would then recommend ways to make its rules easier for small entities to follow, potentially expanding which businesses qualify for help. The bill also requires the SEC to adjust the dollar amounts used in its definitions every five years to account for inflation.
How it affects you
Small business owners, startups, and other small entities that deal with SEC regulations could see some relief if the rules become easier to follow. The official summary doesn't specify which types of businesses would be affected most or what exact changes they'd see, but the goal is to reduce unnecessary burdens on them compared to large corporations.
Read the official summary (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.
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. 3382
AN ACT
Small Entity Update Act
Sponsor: Rep. Ann Wagner (R-MO-2) · Introduced May 14, 2025 · Finance and Financial Sector · 4 versions of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jul 22, 2025: “Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”