{"bill":{"id":"119-hr-3382","congress":119,"type":"HR","number":3382,"title":"Small Entity Update Act","originChamber":"House","introducedDate":"2025-05-14","sponsors":[{"bioguideId":"W000812","fullName":"Rep. Wagner, Ann [R-MO-2]","party":"R","state":"MO","district":2}],"cosponsorsCount":7,"latestAction":{"actionDate":"2025-07-22","text":"Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs."},"policyArea":"Finance and Financial Sector","subjects":["Administrative law and regulatory procedures","Congressional oversight","Government studies and investigations","Securities and Exchange Commission (SEC)","Small business"],"actions":[{"date":"2025-07-22","text":"Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.","type":"IntroReferral","chamber":"Senate","hasVote":false},{"date":"2025-07-21","text":"Motion to reconsider laid on the table Agreed to without objection.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2025-07-21","text":"On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2025-07-21","text":"Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3500)","type":"Floor","chamber":"Library of Congress","hasVote":false},{"date":"2025-07-21","text":"DEBATE - The House proceeded with forty minutes of debate on H.R. 3382.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2025-07-21","text":"Considered under suspension of the rules. (consideration: CR H3500-3501)","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2025-07-21","text":"Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.","type":"Floor","chamber":"House floor actions","hasVote":false},{"date":"2025-06-03","text":"Placed on the Union Calendar, Calendar No. 95.","type":"Calendars","chamber":"House floor actions","hasVote":false},{"date":"2025-06-03","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.","type":"Committee","chamber":"House floor actions","hasVote":false},{"date":"2025-06-03","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-125.","type":"Committee","chamber":"Library of Congress","hasVote":false},{"date":"2025-05-20","text":"Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-05-20","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-05-14","text":"Referred to the House Committee on Financial Services.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-05-14","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-05-14","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Small Entity Update Act </strong></p><p>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.&nbsp;</p><p>Specifically, the bill requires the SEC to evaluate the current definition of&nbsp;<em>small entity</em> with respect to SEC rules.</p><p>Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of <em>small entity</em> 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.</p><p>The SEC must also revise the applicable rules to implement these recommendations.</p>","updateDate":"2026-01-22T22:06:13Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":495,"ts":"2026-04-15T02:14:59.213Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=Small%20Entity%20Update%20Act"}]}}