{"format":1,"id":"119-hr-3422","congress":119,"number":"H.R. 3422","kind":"bill","group":"bills","title":"Promoting Opportunities for Non-Traditional Capital Formation Act","title_source":"Short Title(s) as Passed House","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.","titles":[{"type":"Official Title as Introduced","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."},{"type":"Official Title from EH (Engrossed in House) bill text","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."},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Short Title(s) as Passed House","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Short Title(s) as Reported to House","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Display Title","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"type":"Short Title(s) as Introduced","title":"Promoting Opportunities for Non-Traditional Capital Formation Act"}],"outcome":"passed_house","law_number":null,"introduced":"2025-05-15","chambers":{"house":{"status":"roll_call","date":"2025-06-23","vote":{"id":"119-2025-h174","question":"On Motion to Suspend the Rules and Pass, as Amended","title":"Promoting Opportunities for Non-Traditional Capital Formation Act","result":"Passed","yea":321,"nay":87,"present":0,"not_voting":23,"source":"https://clerk.house.gov/evs/2025/roll174.xml"}},"senate":{"status":"pending","date":null,"vote":null}},"president":{"status":"not_yet","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.","date":"2025-06-24"},"nominees":null,"amendments":[],"other_votes":[],"crs_summary":{"date":"2025-05-15","stage":"Introduced in House","blocks":[{"k":"h","t":"Promoting Opportunities for Non-Traditional Capital Formation Act"},{"k":"p","t":"This bill expands the functions of the Securities and Exchange Commission's Office of the Advocate for Small Business Capital Formation."},{"k":"p","t":"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."}],"words":76},"summary":{"main_subject":{"text":"Adds two functions to the list of duties of the Advocate for Small Business Capital Formation under the Securities Exchange Act of 1934: providing educational resources and events on capital raising options, and meeting with State securities commissions.","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text/eh#H5AC496D0184D49C0B029EB5332704479"}]},"core_areas":["Duties of the Advocate for Small Business Capital Formation","Educational resources and events on capital raising options for small businesses"],"what_it_does":[{"text":"Amends section 4(j)(4) of the Securities Exchange Act of 1934 by adding two new functions to the list of functions of the Advocate for Small Business Capital Formation.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text/eh#H5AC496D0184D49C0B029EB5332704479"}},{"text":"Requires the Advocate to provide educational resources and host or participate in events for small businesses and small business investors.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text/eh#H5AC496D0184D49C0B029EB5332704479"}},{"text":"Directs that these resources and events include raising awareness of capital raising options for underrepresented small businesses, including women-owned small businesses and minority-owned small businesses.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text/eh#H5AC496D0184D49C0B029EB5332704479"}},{"text":"Directs that the resources and events also cover capital raising options for businesses located in rural areas and for small businesses affected by hurricanes or other natural disasters.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text/eh#H5AC496D0184D49C0B029EB5332704479"}},{"text":"Requires the Advocate, at least annually, to meet with representatives of State securities commissions to discuss opportunities for collaboration and coordination on efforts to assist small businesses and small business investors.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text/eh#H5AC496D0184D49C0B029EB5332704479"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2025-06-23","rule":"passed","href":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-09-29","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/119th-congress/house-bill/3422","text":"https://www.congress.gov/bill/119th-congress/house-bill/3422/text"},"card":{"image":"card/item/119-hr-3422.png","v":"1a4d2dd7ae43","alt":"Votes on Record. H.R. 3422, 119th Congress: Promoting Opportunities for Non-Traditional Capital Formation Act. House: 321 Yea, 87 Nay. Senate: not yet considered. Outcome: Passed House, 23 Jun 2025."}}