Skip to content
CIVIC HERALD
HR 3422 · 119th Congress · HouseIn committee

Promoting Opportunities for Non-Traditional Capital Formation Act

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.

Provisional: our plain-language summary, pending review.

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
Reach14provisional · pending reviewrigor: heuristic llm
Your matchSign in →See how this matches your values.

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.

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.

  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

Loading your members of Congress…

Timeline

How it moved.

  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. Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
  7. May 20, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
  8. May 15, 2025Introduced in House
  9. May 15, 2025Introduced in House

The original text

Read it for yourself.

Read the original text →

Sources & provenance

Congress.govrefreshed 9 days ago

Checking your session…