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Small Entity Update Act

7/26/2025, 8:26 PM

Summary of Bill HR 3382

The Small Entity Update Act, introduced in the 119th Congress on May 14, 2025, aims to provide updates and revisions that are beneficial to small entities. The bill, designated as H.R. 3382, includes provisions intended to streamline regulations, improve access to resources, and enhance opportunities for small businesses or organizations. Further details on specific directives or actions proposed in the bill can be accessed through the official PDF version available at https://www.congress.gov/119/bills/hr3382/BILLS-119hr3382ih.pdf.

Congressional Summary of HR 3382

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.

Read the Full Bill

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Current Status of Bill HR 3382

Bill HR 3382 is currently in the status of Introduced to Senate since July 22, 2025. Bill HR 3382 was introduced during Congress 119 and was introduced to the House on May 14, 2025.  Bill HR 3382's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of July 22, 2025

Bipartisan Support of Bill HR 3382

Total Number of Sponsors
15
Democrat Sponsors
0
Republican Sponsors
15
Unaffiliated Sponsors
0
Total Number of Cosponsors
16
Democrat Cosponsors
12
Republican Cosponsors
4
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3382

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures
- Congressional oversight
- Government studies and investigations
- Securities and Exchange Commission (SEC)
- Small business

Alternate Title(s) of Bill HR 3382

Small Entity Update Act
Small Entity Update Act
To require the Securities and Exchange Commission to carry out a study and rulemaking on the definition of the term "small entity" under the securities laws for purposes of chapter 6 of title 5, United States Code, and for other purposes.

Comments

Fiona O'Brien profile image

Fiona O'Brien

691

11 months ago

This bill is so confusing, like why do they even bother with it? It's like they're just making things more complicated for no reason. I don't get it at all. #confused #politics

Sponsors and Cosponsors of HR 3382

Ann Wagner
Ann Wagner
MissouriRepublican
Ritchie Torres
Ritchie Torres
New YorkDemocrat
David Scott
David Scott
GeorgiaDemocrat
Pete Sessions
Pete Sessions
TexasRepublican
Sean Casten
Sean Casten
IllinoisDemocrat
James A. Himes
James A. Himes
ConnecticutDemocrat

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