H.R. 3422 · 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 summaryExpands SEC support for small business funding
This bill gives the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation more responsibilities. The office would have to teach small business owners about different ways to raise money and hold events to help them do it. It would also meet once a year with state officials who oversee securities to find ways to work better together.
How it affects you
If you own a small business—especially if you're in a rural area, facing recovery from a natural disaster, or from a group that's been underrepresented in business—this could help you find more information and support for raising money to grow your business.
Read the official summary (Introduced in House, May 15, 2025)
Promoting Opportunities for Non-Traditional Capital Formation Act
This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.
Specifically, the office must (1) provide educational resources and host (or participate in) events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination.
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. 3422
AN ACT
Promoting Opportunities for Non-Traditional Capital Formation Act
Sponsor: Rep. Maxine Waters (D-CA-43) · Introduced May 15, 2025 · Commerce · 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.”
How Congress voted
Official roll callsHouse · On Motion to Suspend the Rules and Pass, as Amended · Jun 23, 2025
Motion to Suspend the Rules and Pass, as Amended Passed 321–87
| Party | Yes | No | Didn’t vote |
|---|---|---|---|
| Democrats | 199 | 0 | 13 |
| Republicans | 122 | 87 | 10 |
87 members voted against most of their party: 87 Republicans voted No.
Congress votes on whole bills and amendments, not on single sections.