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H.R. 3422119th CongressPassed one chamberLatest action Jun 24, 2025Decoded by AI · checked against the record
Official title: Promoting Opportunities for Non-Traditional Capital Formation Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
The bill expands the SEC's Small Business Capital Formation office to educate underserved business owners on raising investment funds.
40-second read · 4 questions answered below
This bill amends the Securities Exchange Act of 1934 to expand the duties of the SEC's Advocate for Small Business Capital Formation. The office must create educational materials and host or join events explaining capital-raising options, focusing on women-owned, minority-owned, rural, and disaster-affected businesses. The Advocate must also meet at least annually with state securities commission representatives to coordinate support efforts.
Small business owners, particularly those in underrepresented groups, and small business investors are primarily affected. The SEC office holding the Advocate role also gains added responsibilities.
The bill could improve access to information on raising capital for targeted businesses, without imposing new penalties, taxes, or requirements on the public.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.