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H.R. 3382119th CongressPassed one chamberLatest action Jul 22, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
HR 3382 requires the SEC to review and update its "small entity" definition within one year and every five years after, with inflation adjustments.
55-second read · 4 questions answered below
HR 3382 directs the SEC to study its current definition of "small entity" within one year of enactment and again five years later, then report findings to Congress and update its rules accordingly. The bill also requires automatic adjustments to size thresholds every five years to account for inflation. No existing regulations are eliminated; the bill solely directs the SEC to evaluate whether its current size categories remain appropriate.
The bill most directly affects small and mid-sized businesses subject to securities laws, including smaller investment firms, broker-dealers, and companies that raise money from investors. Investors and the broader public may be affected indirectly, since changes to SEC regulation of smaller financial companies can influence market rules more broadly.
The current definition of "small entity" is considered outdated and may not reflect the growth of financial markets over time. If more businesses qualify as small entities, they become entitled to regulatory burden considerations that federal law already requires agencies to apply when writing new rules.
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.