Promoting Opportunities for Non-Traditional Capital Formation Act
Passed HouseCommerce
IntroducedMay 15, 2025
Passed HouseJun 23, 2025
Passed SenateNot yet
To PresidentNot yet
Became lawNot yet
Where it stands
Passed House. Latest step, Jun 24, 2025: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. The House passed it 321–87.In the House, Iowa's representatives split: Randy Feenstra no, Ashley Hinson yes, Mariannette Miller-Meeks yes, Zachary Nunn yes. It would change 1 section of existing law.
How this bill changes the law
Sourced
H.R. 3422 would change 1 section of existing law. Read from the bill text as sent to the Senate (Jun 24, 2025).
adds
changes words
removes or repeals
renumbers
Dashed lines: proposed, not law.
H.R. 3422Bill
Sec. 2(1)Promoting capital raising options for traditionally underrepresented small businesses1 change
Sec. 2(2)Promoting capital raising options for traditionally underrepresented small businesses1 change
Sec. 2(3)Promoting capital raising options for traditionally underrepresented small businesses1 change
(I) provide educational resources and host or participate in events for small businesses and small business investors, including to raise awareness of capital raising options for—(i) underrepresented small businesses, including women-owned small businesses and minority-owned small businesses;(ii) businesses located in rural areas; and(iii) small businesses affected by hurricanes or other natural disasters; and(J) at least annually, meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination with respect to efforts to assist small businesses and small business investors.
The bill says: by adding at the end the following:
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
Promoting Opportunities for Non-Traditional Capital Formation Act
This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.
Specifically, the office must (1) provide educational resources and host (or participate in) events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination.
Official summary by the Congressional Research Service (Introduced in House, May 15, 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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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) Roll call recordLibrary of Congress
Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-117.Library of Congress
May 15, 2025Introduced in HouseLibrary of Congress