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US HB3422
Bill
Status
6/24/2025
Primary Sponsor
Maxine Waters
Click for details
AI Summary
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Amends the Securities Exchange Act of 1934 to expand duties of the SEC's Advocate for Small Business Capital Formation
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Requires the Advocate to provide educational resources and host or participate in events promoting capital raising options for underrepresented small businesses, including women-owned and minority-owned businesses, rural businesses, and businesses affected by hurricanes or natural disasters
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Mandates at least annual meetings between the Advocate and representatives of State securities commissions to discuss collaboration on assisting small businesses and small business investors
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Passed the House of Representatives on June 23, 2025
Legislative Description
Promoting Opportunities for Non-Traditional Capital Formation Act
Commerce
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
6/24/2025