WHAT THE LAW DOINCongress, in plain words

H.R. 3351 · 119th Congress

Improving Access to Small Business Information Act

Passed HouseFinance and Financial Sector
IntroducedMay 13, 2025
Passed HouseJul 21, 2025
Passed SenateNot yet
To PresidentNot yet
Became lawNot yet

Where it stands

Passed House. Latest step, Jul 22, 2025: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. The House passed it 387–12. All 4 of Iowa's representatives voted yes in the House. It would change 1 section of existing law.

How this bill changes the law

Sourced

H.R. 3351 would change 1 section of existing law. Read from the bill text as sent to the Senate (Jul 22, 2025).

15 U.S.C. 78d Securities and Exchange Commission

  • (j) Office of the Advocate for Small Business Capital Formation added to · Sec. 2 · see the words
What the words would change: every change, in place (1)

Today's wording of each part of the law, with what would be struck out and added. Each change also gives the bill's own instruction, word for word.

  1. 15 U.S.C. 78d(j)added (10)by H.R. 3351 Sec. 2

    (10) Preservation of information collection burden review.—(A) In general.— Actions taken by the Advocate for Small Business Capital Formation under this subsection shall not be a "collection of information" for purposes of subchapter I of chapter 35 of title 44, United States Code (commonly known as the "Paperwork Reduction Act").(B) Exceptions.— Notwithstanding subparagraph (A), the requirements under subsections (c)(1), (c)(4), and (i) of section 3506 of title 44, United States Code, and section 3507(a)(1)(A) of such title shall apply to actions taken by the Advocate for Small Business Capital Formation under this subsection, except that the Commission shall not be required—(i) to submit a collection of information by the Advocate to the Director of the Office of Management and Budget, as referenced under section 3506(c)(1)(A) of such title;(ii) to display a control number on a collection of information by the Advocate, as described under section 3506(c)(1)(B)(i) of such title (or to inform a person receiving a collection of information from the Advocate that the collection of information needs to display a control number, as described under section 3506(c)(1)(B)(iii)(V) of such title); or(iii) to indicate a collection of information by the Advocate is in accordance with the clearance requirements of section 3507 of such title, as described under section 3506(c)(1)(B)(ii) of such title.

    The bill says: Section 4(j) of the Securities Exchange Act of 1934 (15 U.S.C. 78d(j)) is amended by adding at the end the following:

    Bill text · Current law (15 U.S.C. 78d)

From the bill's official text on GovInfo and the U.S. Code, 2024 edition, which may not yet show changes made since.

What it does

Sourced

Improving Access to Small Business Information Act

This bill excludes from the Paperwork Reduction Act actions taken by the Office of the Advocate for Small Business Capital Formation within the Securities and Exchange Commission. Under the Paperwork Reduction Act, agencies must comply with specific procedures when gathering information from the public.

The bill establishes several exceptions. For example, the office must inform the person receiving the collection of information the reasons the information is being collected, as required under current law.

Official summary by the Congressional Research Service (Introduced in House, May 13, 2025).

Our plain-language breakdown, with what it means for you and the case for and against, is written once a bill starts to move.

What has happened

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  1. Jul 22, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Senate
  2. Jul 21, 2025Motion to reconsider laid on the table Agreed to without objection.House floor actions
  3. Jul 21, 2025On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 387 - 12 (Roll no. 214). (text: CR H3501-3502) Roll call recordHouse floor actions
  4. Jul 21, 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): 387 - 12 (Roll no. 214). (text: CR H3501-3502: 1) Roll call recordLibrary of Congress
  5. Jul 21, 2025Considered as unfinished business. (consideration: CR H3519-3520)House floor actions
  6. Jul 21, 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.House floor actions
  7. Jul 21, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 3351.House floor actions
  8. Jul 21, 2025Considered under suspension of the rules. (consideration: CR H3501-3503)House floor actions
  9. Jul 21, 2025Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.House floor actions
  10. Jun 3, 2025Placed on the Union Calendar, Calendar No. 88.House floor actions
  11. Jun 3, 2025Committee on Oversight and Gov Reform discharged.House floor actions
  12. Jun 3, 2025Committee on Oversight and Gov Reform discharged.Library of Congress
  13. Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-118, Part I.House floor actions
  14. Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-118, Part I.Library of Congress
  15. May 20, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.House committee actions
  16. May 20, 2025Committee Consideration and Mark-up Session HeldHouse committee actions
  17. May 13, 2025Referred to the Committee on Financial Services and the Committee on Oversight and Government Reform.House floor actions
  18. May 13, 2025Referred to the Committee on Financial Services and the Committee on Oversight and Government Reform.House floor actions
  19. May 13, 2025Introduced in HouseLibrary of Congress
  20. May 13, 2025Introduced in HouseLibrary of Congress

Show key steps only

Recorded votes

Sourced
  1. Jul 21, 2025 · HousePassed 387–12
    Iowa: Randy Feenstra yes, Ashley Hinson yes, Mariannette Miller-Meeks yes, Zachary Nunn yes
    On Motion to Suspend the Rules and Pass, as Amended · needed two-thirds
    R 190 yes, 12 noD 197 yes, 0 noEach member · Record

Cosponsors

  • Brian K. Fitzpatrick R-PA-1
  • Josh Gottheimer D-NJ-5
  • Pete Sessions R-TX-17