Small Entity Update Act passed the House 68 days after introduction and awaits a vote in the Senate
Written by the Congressional Research Service [2]. 133 words.
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.
- Committees
- House Financial Services Committee
Senate Banking, Housing, and Urban Affairs Committee - Policy area
- Finance and Financial Sector: 53 of 3,256 bills became law, 113th–118th (1.6%)
- Sponsor
- 7 of 120 bills enacted since 2013
- Text versions
- 4, from introduced in house to referred in senate · 441 words
- Subjects
- Administrative law and regulatory proceduresCongressional oversightGovernment studies and investigationsSecurities and Exchange Commission (SEC)Small business
- Latest action
- Jul 22, 2025: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 1 in all.
Related, per CRS or House · 1
- 119th S. 2924 Small Entity Update Act R · Introduced