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CIVIC HERALD
HR 3422 · 119th Congress · HouseIn committee

Promoting Opportunities for Non-Traditional Capital Formation Act

Provisional: our plain-language summary, pending review.

In plain language: This bill requires the Securities and Exchange Commission's small business advocate to provide educational tools and host events that teach entrepreneurs how to raise investment money. Outreach is specifically directed toward women-owned, minority-owned, and rural small businesses, as well as businesses recovering from hurricanes or other natural disasters. It also requires federal officials to meet at least once a year with state securities regulators to coordinate support for small business owners and investors.

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Provisionalunreviewed: impact, issue tags, provisions, stakeholders, summary
People affected—not determinable from the text provided; targets small businesses and investors broadly without establishing eligibility rolls, headcounts, or direct service caps
Fiscal magnitude—not determinable from the text provided; no appropriations or funding authorizations are specified
Reach
provisional · pending review14rigor: heuristic llm
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Issues

What this bill touches.

Race-conscious policy+10Role of government+12Federal vs. state/localBanking/financial rules

The sign shows the bill's direction on each issue (+ toward, − away); the number is its magnitude. Color never encodes good or bad, and never party.

Who it affects

Who it helps · who it burdens.

Provisional: our reading of who it affects, pending review.

Who it helps

  • Underrepresented, rural, and disaster-affected small businessesGain access to educational resources and events aimed at raising awareness about capital-raising options, specifically highlighting women-owned, minority-owned, rural, and disaster-impacted firms (Sec. 2(3)(I)).provisional
  • Small business investorsReceive targeted educational resources and outreach events to help them connect with and learn about capital-raising opportunities for small enterprises (Sec. 2(3)(I)).provisional
  • State securities commissionsGain a recurring, mandatory forum at least once a year with federal regulators to coordinate and collaborate on small business capital efforts (Sec. 2(3)(J)).provisional

Who it burdens

  • SEC Advocate for Small Business Capital FormationTakes on new statutory duties to develop educational materials, host or participate in outreach events, and meet at least annually with state regulators (Sec. 2(3)).provisional

Dollar-level funding (FEC sector totals) is coming in a later phase.

What it does

The provisions, in plain language.

Provisional: our reading of what the bill does, pending review.

  1. Requires the Securities and Exchange Commission's Advocate for Small Business Capital Formation to provide educational materials and host or attend events to help small businesses and investors learn about fundraising options, with a focus on women-owned, minority-owned, rural, and disaster-affected businesses.

    Sec. 2(3)provisional

  2. Requires the SEC's Advocate for Small Business Capital Formation to meet at least once a year with state securities regulators to coordinate ways to support small businesses and their investors.

    Sec. 2(3)provisional

How your members of Congress line up

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The record

How members voted on Promoting Opportunities for Non-Traditional Capital Formation Act.

Recorded roll calls on this bill, most recent first. Open one to see each member's position.

  • House · Jun 23, 2025 · 2/3 YEA-AND-NAY

    On Motion to Suspend the Rules and Pass, as Amended · Passed

    Source →

Timeline

How it moved.

Show all 15 actions
  1. Jun 24, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jun 23, 2025Motion to reconsider laid on the table Agreed to without objection.
  3. Jun 23, 2025On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)
  4. Jun 23, 2025Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)
  5. Jun 23, 2025Considered as unfinished business. (consideration: CR H2879)
  6. Jun 23, 2025At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  7. Jun 23, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 3422.
  8. Jun 23, 2025Considered under suspension of the rules. (consideration: CR H2875-2876)
  9. Jun 23, 2025Mr. Downing moved to suspend the rules and pass the bill, as amended.
  10. Jun 3, 2025Placed on the Union Calendar, Calendar No. 87.
  11. Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
  12. May 20, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
  13. May 20, 2025Committee Consideration and Mark-up Session Held
  14. May 15, 2025Referred to the House Committee on Financial Services.
  15. May 15, 2025Introduced in House
  1. Jun 24, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jun 23, 2025Motion to reconsider laid on the table Agreed to without objection.
  3. Jun 23, 2025On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)
  4. Jun 23, 2025Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)
  5. Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
  6. May 20, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
  7. May 15, 2025Introduced in House

The original text

Read it for yourself.

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Sources & provenance

Congress.govrefreshed 2 months ago

Cite this page

Civic Herald. “Promoting Opportunities for Non-Traditional Capital Formation Act (H.R. 3422, 119th Congress).” https://civicherald.app/bills/119-hr-3422. Congress.gov record as of Aug 20, 2026.

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