ELEVATE Act of 2026

Pete Ricketts

Republican · NE · Senator

Source: Congress.gov · FEC

• Catherine Cortez Masto (D-NV)Original· 2026-03-10

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2026-03-10

Source: Congress.gov

The bill aims to strengthen the financial sector by likely expanding access to banking services, improving financial literacy, or creating new opportunities for underserved communities to participate in the economy. Based on its referral to the Banking Committee, it probably addresses issues like small business lending, consumer protections, or ways to help people build wealth and financial stability. The changes would affect banks, borrowers, and everyday people trying to access credit or financial services.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4034 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4034 To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 10, 2026 Mr. Ricketts (for himself and Ms. Cortez Masto) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Encouraging Local Emerging Ventures and Economic Growth Act of 2026'' or the ``ELEVATE Act of 2026''. SEC. 2. REGISTRATION STATEMENTS. Section 12(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78l(b)) is amended-- (1) in paragraph (1), by redesignating subparagraphs (A) through (L) as clauses (i) through (xii), respectively; (2) by redesignating paragraphs (1), (2), and (3) as subparagraphs (A), (B), and (C), respectively; (3) by inserting ``(1)'' after ``(b)''; (4) in the matter preceding subparagraph (A) of paragraph (1), as so redesignated, by striking ``shall contain--'' and inserting ``shall contain the following:''; (5) in paragraph (1)(A)(xi), as so redesignated, by striking ``years,'' and inserting ``years (or, in the case of an emerging growth company, not more than the two preceding fiscal years),''; (6) in paragraph (1)(C), as so redesignated, by striking ``paragraph (1)(I)'' and inserting ``subparagraph (A)(ix)''; and (7) by adding at the end the following: ``(2)(A) Any issuer may confidentially submit to the Commission a draft registration statement for confidential nonpublic review by the staff of the Commission prior to public filing of that registration statement, provided that the initial confidential submission and all amendments to that confidential submission shall be publicly filed with the Commission not later than 10 days before the applicable security is listed on a national securities exchange. ``(B) Notwithstanding any other provision of this title, the Commission shall not be compelled to disclose any information provided to or obtained by the Commission pursuant to this paragraph. ``(C) For purposes of section 552 of title 5, United States Code, this paragraph shall be considered a statute described in subsection (b)(3)(B) of such section 552. ``(D) Information described in or obtained pursuant to this paragraph shall be deemed to constitute confidential information for purposes of section 24.''. <all>

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