Bills · HR 3382
PASSED HOUSE· 119TH CONGRESS
House BillHR 3382Securities and Exchange Commission (SEC)Administrative law and regulatory procedures
Small Entity Update Act
INTRO MAY 14· LAST ACTION JUL 22
READING
3MIN
COSPONSORS
7BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- One chamber only
LEGISLATIVE PROGRESS
STEP 4 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it aims to make federal regulations more practical and less burdensome for smaller businesses and organizations. When the government sets rules, it often considers how those rules might impact small entities differently than large ones. An outdated definition of 'small entity' could mean that many businesses that are actually quite small are still treated like large corporations, facing higher compliance costs that can hinder their growth or even force them out of business.
If this bill becomes law, it could lead to updated definitions that better reflect today's economic landscape, potentially extending regulatory relief to a broader range of smaller companies, non-profits, and local governments. This might free up resources for these entities to invest, innovate, and create jobs. If the bill does not pass, the current definitions, which may be many years old, would remain in place, potentially continuing to impose disproportionate regulatory burdens on entities that are small by modern standards.
KEY PROVISIONS
5AI-extractedPROVISION 01
The SEC must conduct a study of its 'small entity' definition within one year of the bill becoming law, and every five years thereafter.
This ensures the definition of a 'small entity' is regularly reviewed and updated to reflect current economic realities and market growth.
PROVISION 02
The study must consider market growth, align with existing law, and aim to include a meaningful number of entities under the 'small entity' definition.
This directs the SEC to create a definition that is both relevant and effective in providing regulatory relief to a broad spectrum of smaller organizations.
PROVISION 03
Following each study, the SEC must submit a report to Congress with recommendations on how to amend the definition to expand coverage.
This ensures transparency and accountability to Congress, highlighting how the SEC plans to adapt its regulations.
PROVISION 04
The SEC is required to revise its rules, consistent with the study results, to update the 'small entity' definition, after public input.
This provision mandates actual changes to the regulations, translating study findings into concrete policy adjustments.
PROVISION 05
After revising the rules, the SEC must adjust any dollar figures in the definition every five years to account for inflation.
This provision ensures that the financial thresholds for 'small entity' status remain relevant over time, preventing inflation from inadvertently reclassifying entities.
SPONSORSHIP
1 + 7
R· Missouri
YRS IN OFFICE
13
BILLS LED
20
COSPONSOR BREAKDOWNBIPARTISAN · 57%
DEM 5 REP 2 IND 0
ACTION TIMELINE
13 EVENTSJUL 22
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
JUL 21
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
JUL 21
Considered under suspension of the rules. (consideration: CR H3500-3501)
JUL 21
DEBATE - The House proceeded with forty minutes of debate on H.R. 3382.
BILL INFO
TypeHouse Bill
NumberHR 3382
Congress119th
StatusPassed House
IntroducedMay 14, 2025
Last actionJul 22, 2025
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PASSED HOUSE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED MAY 14, 2025
House BillHR 3382Securities and Exchange Commission (SEC)Administrative law and regulatory procedures
Small Entity Update Act
INTRODUCED MAY 14, 2025· LAST ACTION JUL 22, 2025
PASSAGE CHANCES
—%
READING
3 min
COSPONSORS
7
COMPLEXITY
Moderate
