Small Entity Update Act
Sponsored By: Representative Wagner, Ann [R-MO-2]
Passed House
Summary
Updates how the SEC defines "small entity" to broaden which firms, organizations, and local governments can get small-entity regulatory treatment. It would force regular studies, reports to Congress, rulemaking, and routine inflation adjustments for dollar thresholds.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
SEC to review 'small entity' rules
If enacted, this bill would make the SEC use the federal "small entity" definition for its rules, plus any SEC-specific versions. The SEC would study that definition within 1 year, and again 5 years later. Each study would consider the Regulatory Flexibility Act findings, market growth since the last update, and how to cover a meaningful number of entities. After each study, the SEC would send Congress a report with recommendations and start public rulemaking to revise the definition. After final rules, and every 5 years, the SEC would adjust any dollar cutoffs for inflation using CPI-U.
Sponsors & CoSponsors
Sponsor
Wagner, Ann [R-MO-2]
MO • R
Cosponsors
Rep. Torres, Ritchie [D-NY-15]
NY • D
Sponsored 5/14/2025
Casten
IL • D
Sponsored 5/14/2025
Scott, David
GA • D
Sponsored 5/14/2025
Sessions
TX • R
Sponsored 5/14/2025
Himes
CT • D
Sponsored 5/15/2025
Rep. Vindman, Eugene Simon [D-VA-7]
VA • D
Sponsored 5/21/2025
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 6/3/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov