H.R. 3422 · 119th Congress

Promoting Opportunities for Non-Traditional Capital Formation Act

Introduced on May 15, 2025 by Maxine Waters (D-CA-43). One cosponsor. Latest action (Jun 24, 2025): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Stage
Passed one chamber
Introduced
May 15, 2025
Cosponsors
1
1 from the other party
Policy area
Commerce
Open in the Congress explorerCongress.govAlert me

Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. Reported by committee
  3. Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

To amend the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation to provide educational resources and host events to promote capital raising options for traditionally underrepresented small businesses, and for other purposes.

Subjects

  • Business investment and capital
  • Economic development
  • Economic performance and conditions
  • Natural disasters
  • Rural conditions and development
  • Small business

Summary

By the Congressional Research Service (Introduced in House, May 15, 2025). Public domain.

Promoting Opportunities for Non-Traditional Capital Formation Act

This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation.

Specifically, the office must (1) provide educational resources and host (or participate in) events to promote capital-raising options for underrepresented small businesses, businesses in rural areas, and businesses affected by natural disasters; and (2) meet annually with representatives of state securities commissions to discuss opportunities for collaboration and coordination.

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Maxine WatersD-CA-43Sponsor

Republicans · 1

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

  1. On Motion to Suspend the Rules and Pass, as Amended
    Jun 23, 2025· House· Passage· Passed 321–87

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. May 15, 2025Introduced in House
  2. May 15, 2025Introduced in House
  3. May 15, 2025 · HouseReferred to the House Committee on Financial Services.
  4. May 20, 2025 · HouseCommittee Consideration and Mark-up Session Held
  5. May 20, 2025 · HouseOrdered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
  6. Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
  7. Jun 3, 2025 · HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
  8. Jun 3, 2025 · HousePlaced on the Union Calendar, Calendar No. 87.
  9. Jun 23, 2025 · HouseMr. Downing moved to suspend the rules and pass the bill, as amended.
  10. Jun 23, 2025 · HouseConsidered under suspension of the rules. (consideration: CR H2875-2876)
  11. Jun 23, 2025 · HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 3422.
  12. Jun 23, 2025 · HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  13. Jun 23, 2025 · HouseConsidered as unfinished business. (consideration: CR H2879)
  14. Jun 23, 2025Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)House · Roll call 174
  15. Jun 23, 2025 · HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)House · Roll call 174
  16. Jun 23, 2025 · HouseMotion to reconsider laid on the table Agreed to without objection.
  17. Jun 24, 2025 · SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. Chamber of Commerce of the U.S.A.3 reports
    $51M reported (all issues)
  2. Americans for Financial Reform1 report
    $150K reported (all issues)
  3. Service Employees International Union CTW-CLC1 report
    $255K reported (all issues)

Reports filed in 2025.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 6, 2026 · loaded Oct 6, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 6, 2026 · loaded Oct 6, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.