# 119-hr-3383: Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 119-hr-3383, Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025, is a 119th Congress bill sponsored by Rep. Wagner, Ann [R-MO-2] (R-MO); status passed_house; PRIA reads it as touching household money (as of 2026-07-15). - Canonical: https://policyrisk.com/legislation/119-hr-3383 - 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-3383 - Congress: 119 - Title: Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025 - Status: passed_house - Introduced: 2025-05-14 - Sponsor: Rep. Wagner, Ann [R-MO-2] (R-MO) - Cosponsors: 4 - Policy area: Finance and Financial Sector - Touches household money: yes - Last recorded action: 2026-07-15 ## Summary **Expand capital formation for small and rural businesses.** This bill would package a set of SEC changes to help small and rural firms reach investors, raise crowdfunding and investor thresholds, and tighten disclosure and delivery rules. - Small businesses and rural job creators: Would extend Section 4(i) to include rural-area small businesses, allow verified investor events under Regulation D, and create SEC Offices of Small Business to coordinate capital-formation policy. - Individual investors and crowdfunding: Raises the individual crowdfunding cap to $250,000 and adds a $1,000,000 net-worth path and other professional/experience routes to accredited‑investor status. - Funds, advisers and market rules: Would raise the investment-adviser threshold to $175 million and impose a 49 percent cap on a fund's secondary or VC fund exposures. It also directs the SEC to permit electronic delivery of regulatory documents and requires new proxy disclosures showing voting power for multi-class share structures. ## Cosponsors (4) - Rep. Meeks, Gregory W. [D-NY-5] (D-NY), 2025-05-14T00:00:00.000Z - Rep. Torres, Ritchie [D-NY-15] (D-NY), 2025-05-14T00:00:00.000Z - Rep. Scott, David [D-GA-13] (D-GA), 2025-05-14T00:00:00.000Z - Rep. Sessions, Pete [R-TX-17] (R-TX), 2025-05-14T00:00:00.000Z ## Votes | Date | Chamber | Question | Result | Yea | Nay | | --- | --- | --- | --- | --- | --- | | 2025-12-11T00:00:00.000Z | house | On Passage | Passed | 302 | 123 | ## Provisions PRIA read - More people can invest in startups: benefit, high. If enacted, more people would qualify to invest in private deals. You could qualify as accredited with over $1,000,000 in net worth (not counting your home) or income over $200,000 alone or $300,000 with a spouse for the last two years, with similar income expected this year. The SEC would have to… - Stronger protections for senior investors: benefit, medium. If enacted, the SEC would create a Senior Investor Taskforce to focus on investors age 65 and older. It would report to Congress every two years and shut down after 10 years. The Government Accountability Office would study senior financial exploitation within two years and share results with Congr… - Higher threshold for small adviser firms: benefit, medium. If enacted, the assets‑under‑management threshold tied to an adviser rule would rise from $150 million to $175 million. The SEC would update this number every five years for inflation and round to the nearest $1 million. This could let some smaller firms avoid registration or change their complianc… - Clear voting power in dual-class stocks: benefit, medium. If enacted, companies with multiple share classes would have to show, in proxy materials, who owns what and who controls the votes. For directors, director nominees, named executive officers, and any person with 5% or more voting power, the filing would show percent of shares owned and percent of t… - Easier path to top-tier issuer status: benefit, medium. If enacted, a company could qualify as a well‑known seasoned issuer if non‑affiliate equity is at least $400 million, measured under existing SEC instructions on the enactment date. The issuer would still need to meet the other WKSI conditions. The SEC would publish each year how many ineligible‑is… - More SEC help for small businesses: benefit, medium. If enacted, the SEC would set up an Office of Small Business inside three key divisions to work with the Small Business Advocate. Rural small businesses would be added to priority groups. The SEC would study its “small entity” definition within one year and again in five years, update rules after p… - Pitch investors at approved events: benefit, medium. If enacted, the SEC would change rules within six months so issuers can speak at certain sponsored events without violating the ban on general solicitation. Events would need approved sponsors, like governments, colleges, nonprofits, angel groups, incubators, or trade groups. Ads could not mention… - More options for some 403(b) plans: benefit, low. If enacted, some 403(b) plans and 403(b)(7) custodial accounts would be treated like other exempt retirement vehicles. This could open more pooled options, like bank collective trusts and separate accounts, for eligible plans. It would apply if the plan is under ERISA, if the employer serves as a f… - Go paperless for investment disclosures: mixed, medium. If enacted, the SEC would allow electronic delivery of required investment documents within one year. Firms would send an initial paper notice, give up to 180 days to switch, and mail a yearly paper reminder for up to two years. Investors could opt out any time to keep paper. Firms would need to ca… - Venture fund limits rise, new cap: mixed, medium. If enacted, private funds using a key exemption could have up to 500 investors, up from 250. One asset test would rise to $50 million, measured from enactment. Venture funds could count investments in other venture funds as qualifying, but right after any acquisition they would be limited to 49% of… ## Related bills - 119-hr-6644: 21st Century ROAD to Housing Act - 119-hr-1422: Enhanced Iran Sanctions Act of 2025 - 119-hr-1229: United States-Israel Defense Partnership Act of 2025 - 119-hr-1993: 25th Anniversary of 9/11 Commemorative Coin Act - 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act - 119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025 ## Sources - [119-hr-3383 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/3383) ## Related - [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644) - [119-hr-1422: Enhanced Iran Sanctions Act of 2025](https://policyrisk.com/legislation/119-hr-1422) - [119-hr-1229: United States-Israel Defense Partnership Act of 2025](https://policyrisk.com/legislation/119-hr-1229) - [119-hr-1993: 25th Anniversary of 9/11 Commemorative Coin Act](https://policyrisk.com/legislation/119-hr-1993) - [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842) - [119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-hr-3514) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-hr-3383 (as of 2026-07-15).