H.R. 3382: Small Entity Update Act
A House bill (H.R.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | House bill (H.R.) |
| Originating chamber | House |
| Introduced | 2025-05-14 |
| Sponsor | Rep. Wagner, Ann [R-MO-2] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 7 |
| Latest action | 2025-07-22 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Last updated | 2026-07-18 |
Summary
Official summary (Introduced in House, 2025-05-14):
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.
Cosponsors (7)
| Name | Party / state |
|---|---|
| Ritchie Torres | D NY (original cosponsor) 2025-05-14 |
| Sean Casten | D IL (original cosponsor) 2025-05-14 |
| Rep. Scott, David [D-GA-13] | D GA (original cosponsor) 2025-05-14 |
| Pete Sessions | R TX (original cosponsor) 2025-05-14 |
| James A. Himes | D CT 2025-05-15 |
| Eugene Simon Vindman | D VA 2025-05-21 |
| Michael Lawler | R NY 2025-06-03 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for H.R. 3382 are published by Congress on congress.gov.
View H.R. 3382 on congress.gov →
Frequently asked questions
What is H.R. 3382?
H.R. 3382 is a House bill (H.R.) introduced in the 119th U.S. Congress, originating in the House. Official title: Small Entity Update Act.
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for H.R. 3382 are available on congress.gov.
Bill data: congress.gov API (official congressional records).