# 119-hr-3301: ELEVATE Act of 2025

119-hr-3301, ELEVATE Act of 2025, is a 119th Congress bill sponsored by Rep. Nunn, Zachary [R-IA-3] (R-IA); status passed_house; PRIA reads it as touching household money (as of 2026-07-15).

- Canonical: https://policyrisk.com/legislation/119-hr-3301
- As of: 2026-07-15
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-3301
- Congress: 119
- Title: ELEVATE Act of 2025
- Status: passed_house
- Introduced: 2025-05-08
- Sponsor: Rep. Nunn, Zachary [R-IA-3] (R-IA)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-07-15

## Summary

**Expands confidential review of registration statements for issuers.** The ELEVATE Act narrows the look-back used for emerging growth companies to at most the two preceding years and creates a statutory confidential draft submission process to the SEC with strict non-disclosure protections. - Emerging growth companies: Allows a look-back of up to two preceding years for the specified Section 12(b) calculation. This creates an EGC-specific exception to the general look-back rule. - Issuers preparing to list: Any issuer may confidentially submit a draft registration statement to the SEC for nonpublic staff review. The initial confidential filing and any amendments must be made public no later than 10 days before listing on a national securities exchange. - Information handling and disclosure limits: The SEC is barred from disclosing material submitted under this process and that material is treated as confidential under federal information laws, including the provisions referenced for Freedom of Information Act handling.

## Cosponsors (1)

- Rep. Bynum, Janelle S. [D-OR-5] (D-OR), 2025-05-08T00:00:00.000Z

## Provisions PRIA read

- Private SEC draft filings before listings: mixed, high. This bill would let any company send a draft registration to the SEC for private staff review before a public filing. The company would have to publicly file the draft and all changes at least 10 days before listing on a national stock exchange. The SEC would be barred from disclosing these private…
- Shorter look-back for emerging growth companies: mixed, low. This bill would set a two-year look-back window for emerging growth companies. In these cases, the rule would use no more than the two prior years when checking history for listing or registration. This could ease filings for these smaller issuers, but investors would see a shorter history.

## Related bills

- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-4393: DIGNIDAD (Dignity) Act of 2025
- 119-hr-10421: Transforming Education for the Future Act
- 119-hr-1229: United States-Israel Defense Partnership Act of 2025
- 119-hr-4669: FEMA Act of 2025

## Sources
- [119-hr-3301 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/3301)

## Related
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-4393: DIGNIDAD (Dignity) Act of 2025](https://policyrisk.com/legislation/119-hr-4393)
- [119-hr-10421: Transforming Education for the Future Act](https://policyrisk.com/legislation/119-hr-10421)
- [119-hr-1229: United States-Israel Defense Partnership Act of 2025](https://policyrisk.com/legislation/119-hr-1229)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-3301 (as of 2026-07-15).