Bill · H.R. 3422· House(119-HR-3422)
Promoting Opportunities for Non-Traditional Capital Formation Act
- Introduced
- 5/15/2025
- Last activity
- 6/24/2025 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Maxine Waters
- Cosponsors
- - 0 - 1
- Introduced
- Passed House
- In Senate committee
What this bill would do
This bill, titled the ``Promoting Opportunities for Non-Traditional Capital Formation Act'', seeks to amend the Securities Exchange Act of 1934. It directs the Advocate for Small Business Capital Formation to take on new responsibilities regarding outreach and coordination. Specifically, the Advocate must provide educational resources and host or participate in events to raise awareness about capital raising options. These efforts are targeted toward underrepresented small businesses, rural businesses, and those affected by natural disasters. Additionally, the Act requires annual meetings with State securities commissions to coordinate efforts to assist small businesses and investors.
Yes· 3 of 14
Would business owners be better off under this?+7
The bill specifically targets small business owners to improve their access to capital.
Does this make it easier to run a small business?+7
The bill directly enhances support for small businesses through education and outreach regarding capital raising.
Would Black Americans be better off under this?+5
Supports minority-owned small businesses which include African American entrepreneurs.
The opposite
No question was scored the opposite.
What Congress actually voted on
One recorded vote has been taken on this bill.
- The House: a fast-track vote, needing two-thirds to passPassed 321–87
The House sets aside its normal procedure to move quickly: no amendments, little debate, and a two-thirds bar instead of a simple majority. It is used for measures expected to be uncontroversial, so a bill that fails here failed despite broad expectations that it would not.
06/23/2025 · Roll call 174 · recorded as “On Motion to Suspend the Rules and Pass, as Amended”
Who it would affect, and how
Potential Positive Impacts for People
-
Support for Underrepresented Groups: The bill requires the Advocate to provide educational resources and host events for women-owned and minority-owned small businesses to raise awareness of capital raising options (Section 2, subparagraph (I)(i)).
-
Support for Rural Communities: The provision includes businesses located in rural areas in the mandate to provide education and hosting events for capital raising awareness (Section 2, subparagraph (I)(ii)).
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Disaster Recovery Assistance: Small businesses that have been affected by hurricanes or other natural disasters are included as a group that can benefit from increased awareness of capital raising options (Section 2, subparagraph (I)(iii)).
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Improved State Coordination: The Act requires the Advocate to meet at least annually with representatives of State securities commissions to discuss ways to collaborate and coordinate efforts to assist small businesses and investors (Section 2, subparagraph (J)).
Potential Negative Impacts for People
- No negative impacts are explicitly mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+7Good For African Americans+5Good For Asian Americans+5Good For Hispanic Americans+5Good For Native Americans+5Good For Women+5Good For Rural Residents+4
- Economy And Finance
- Improves Small Business Support+7Improves Economic Growth+3Increases Job Creation+3
- Social Issues And Justice
- Improves Gender Equality+5Improves Racial Equity+5
- Environment Energy And Infrastructure
- Improves Rural Development+4Improves Disaster Relief And F E M A+3
- 6/24/2025
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 6/23/2025
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/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)
- 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)
- Considered as unfinished business. (consideration: CR H2879)
- At 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.
- DEBATE - The House proceeded with forty minutes of debate on H.R. 3422.
- Considered under suspension of the rules. (consideration: CR H2875-2876)
- Mr. Downing moved to suspend the rules and pass the bill, as amended.
- 6/3/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
- Placed on the Union Calendar, Calendar No. 87.
- 5/20/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
- 5/19/2025
- 1 Cosponsor added.
- 5/15/2025
- Referred to the House Committee on Financial Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Ann WagnerRepublican · Missouri