Small Entity Update Act
Sponsor
Full profile: /officials/W000812
Source: Congress.gov · FEC
Cosponsors (7)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
7 cosponsors on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-07-22
Source: Congress.gov
Committee Activity
Currently in
- Senate Committee on Banking, Housing, and Urban AffairsReferred To · 2025-07-22
- House Committee on Financial ServicesReported By · 2025-06-03
Previously
- House Committee on Financial ServicesMarkup By · 2025-05-20
- House Committee on Financial ServicesReferred To · 2025-05-14
Plain-English Summary
Small Entity Update Act This bill requires the Securities and Exchange Commission (SEC) to study approaches to reduce the impact of SEC rules on small businesses and other small entities, make appropriate recommendations, and revise applicable rules. Specifically, the bill requires the SEC to evaluate the current definition of small entity with respect to SEC rules. Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of small entity to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered. In addition, the SEC must adjust for inflation every five years any dollar amounts used to define small entities. The SEC must also revise the applicable rules to implement these recommendations.
Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.
Subjects
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