The record

LegislationLegislation· Jun 2025
HR 3422 Passed House — in Senate

Sponsored by Maxine Waters (D)

Promoting Opportunities for Non-Traditional Capital Formation Act

Expands SEC's small-business office to educate underrepresented, rural, and disaster-affected entrepreneurs on raising capital.

Tradeoff

Requires the SEC's Office of the Advocate for Small Business Capital Formation to host educational events and coordinate with state regulators. No fiscal impact specified in the bill.

What's in it

See official bill text

The House passed this 321-87 on June 23, 2025 — now in the Senate.

  1. House

    Introduced

    (May 15, 2025)

  2. House

    Committee on Financial Services(May 15, 2025)

  3. House

    The Committee on Financial Services voted to send it to the floor

    Reported 50 - 0(May 20, 2025)

    Committee report H. Rept. 119-117.

  4. House

    On Motion to and Pass, as Amended

    Passed(Roll #174 · Jun 23, 2025)

    321 yeanay 87

  5. Senate

    Received from the House

    on Banking, Housing, and Urban Affairs(Jun 24, 2025)

Passage votes so far· Jun 23, 2025· 119th Congress · 2025–2027