H.R. 3383 · Where this bill is now
In the Senate
Passed the House Dec 11, 2025. Received Dec 15, 2025; no Senate vote yet
What this bill does
In plain words · AI-written from the official summaryExpands closed-end funds' private investments
This bill removes restrictions that the Securities and Exchange Commission (the federal agency overseeing financial markets) can place on closed-end funds—which are investment funds with a limited number of shares traded publicly. Specifically, it prevents the SEC from blocking these funds from investing more heavily in private investment funds, which are pools of money that invest in non-publicly traded companies.
How it affects you
If you own shares in a closed-end fund or a business development company (a type of investment fund), your fund may be able to invest in more private companies. The practical effect on individual investors depends on how these funds choose to use this expanded ability, which the summary doesn't detail.
Read the official summary (Reported to House, Jun 25, 2025)
Increasing Investor Opportunities Act
This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.
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. 3383
AN ACT
Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025
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 Dec 15, 2025: “Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”
How Congress voted
Official roll callsHouse · On Agreeing to the Amendment · Dec 11, 2025
Agreeing to the Amendment Failed 54–374
| Party | Yes | No | Didn’t vote |
|---|---|---|---|
| Democrats | 1 | 209 | 6 |
| Republicans | 53 | 165 | 5 |
54 members voted against most of their party: 1 Democrats voted Yes and 53 Republicans voted Yes.
Congress votes on whole bills and amendments, not on single sections.
Sections
Opens on the most recent version where something changedSections · 1
Title I — Expanding Access to Capital for Small Businesses · 9
- Sec. 101Expanding access to capital for rural job creatorsNew
- Sec. 102Helping angels lead our startupsNew
- Sec. 103Amendment for crowdfunding capital enhancement and small-business supportNew
- Sec. 104Small business investor capital accessNew
- Sec. 105Advocating for small businessNew
- Sec. 106Small entity updateNew
- Sec. 107Improving access to small business informationNew
- Sec. 108Improving capital allocation for newcomersNew
- Sec. 109Developing and empowering our aspiring leadersNew
Title II — Increasing Opportunities for Investors · 5
Title III — Strengthening Public Markets · 7
- Sec. 301Encouraging local emerging ventures and economic growthNew
- Sec. 302Access to small business investor capitalNew
- Sec. 303Encouraging public offeringsNew
- Sec. 304Greenlighting growthNew
- Sec. 305Middle market IPO costNew
- Sec. 306Expanding WKSI eligibilityNew
- Sec. 307Enhancing multi-class share disclosuresNew