H.R. 3422: Promoting Opportunities for Non-Traditional Capital Formation Act

Bill · 119th Congress (2025–2026). Passed House, 23 Jun 2025. Introduced 15 May 2025.

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.

Vote results

How each member voted

Senate

Not yet considered.

House

Yea (321): Harold Rogers (R-KY-5); Christopher H. Smith (R-NJ-4); Steny H. Hoyer (D-MD-5); Marcy Kaptur (D-OH-9); Nancy Pelosi (D-CA-11); Frank Pallone, Jr. (D-NJ-6); Richard E. Neal (D-MA-1); Rosa L. DeLauro (D-CT-3); Maxine Waters (D-CA-43); Sanford D. Bishop, Jr. (D-GA-2); Ken Calvert (R-CA-41); James E. Clyburn (D-SC-6); Robert C. "Bobby" Scott (D-VA-3); Nydia M. Velázquez (D-NY-7); Bennie G. Thompson (D-MS-2); Frank D. Lucas (R-OK-3); Lloyd Doggett (D-TX-37); Zoe Lofgren (D-CA-18); Robert B. Aderholt (R-AL-4); Danny K. Davis (D-IL-7); Diana DeGette (D-CO-1); James P. McGovern (D-MA-2); Brad Sherman (D-CA-32); Adam Smith (D-WA-9); Gregory W. Meeks (D-NY-5); John B. Larson (D-CT-1); Janice D. Schakowsky (D-IL-9); Michael K. Simpson (R-ID-2); Mike Thompson (D-CA-4); Pete Sessions (R-TX-17); Sam Graves (R-MO-6); Rick Larsen (D-WA-2); Betty McCollum (D-MN-4); Stephen F. Lynch (D-MA-8); John R. Carter (R-TX-31); Tom Cole (R-OK-4); Mario Diaz-Balart (R-FL-26); Linda T. Sánchez (D-CA-38); Michael R. Turner (R-OH-10); Darrell Issa (R-CA-48); Emanuel Cleaver (D-MO-5); Jim Costa (D-CA-21); Henry Cuellar (D-TX-28); Virginia Foxx (R-NC-5); Al Green (D-TX-9); Michael T. McCaul (R-TX-10); Gwen Moore (D-WI-4); Debbie Wasserman Schultz (D-FL-25); Doris O. Matsui (D-CA-7); Gus M. Bilirakis (R-FL-12); Kathy Castor (D-FL-14); Yvette D. Clarke (D-NY-9); Steve Cohen (D-TN-9); Joe Courtney (D-CT-2); Henry C. "Hank" Johnson, Jr. (D-GA-4); Adrian Smith (R-NE-3); Robert E. Latta (R-OH-5); Robert J. Wittman (R-VA-1); André Carson (D-IN-7); Tim Walberg (R-MI-5); Brett Guthrie (R-KY-2); James A. Himes (D-CT-4); Chellie Pingree (D-ME-1); Glenn Thompson (R-PA-15); Paul Tonko (D-NY-20); Mike Quigley (D-IL-5); Judy Chu (D-CA-28); John Garamendi (D-CA-8); Bill Foster (D-IL-11); Eric A. "Rick" Crawford (R-AR-1); Charles J. "Chuck" Fleischmann (R-TN-3); Bill Huizenga (R-MI-4); William R. Keating (D-MA-9); Mike Kelly (R-PA-16); David Schweikert (R-AZ-1); Steve Womack (R-AR-3); Kweisi Mfume (D-MD-7); Mark E. Amodei (R-NV-2); Suzanne Bonamici (D-OR-1); Suzan K. DelBene (D-WA-1); Joaquin Castro (D-TX-20); Richard Hudson (R-NC-9); Jared Huffman (D-CA-2); Hakeem S. Jeffries (D-NY-8); David P. Joyce (R-OH-14); Grace Meng (D-NY-6); Scott H. Peters (D-CA-50); Mark Pocan (D-WI-2); Raul Ruiz (D-CA-25); Mark Takano (D-CA-39); Juan Vargas (D-CA-52); Marc A. Veasey (D-TX-33); Ann Wagner (R-MO-2); Roger Williams (R-TX-25); Robin L. Kelly (D-IL-2); Jason Smith (R-MO-8); Katherine M. Clark (D-MA-5); Alma S. Adams (D-NC-12); Donald Norcross (D-NJ-1); Pete Aguilar (D-CA-33); Rick W. Allen (R-GA-12); Brian Babin (R-TX-36); Donald S. Beyer, Jr. (D-VA-8); Mike Bost (R-IL-12); Earl L. "Buddy" Carter (R-GA-1); Ed Case (D-HI-1); Mark DeSaulnier (D-CA-10); Debbie Dingell (D-MI-6); Tom Emmer (R-MN-6); J. French Hill (R-AR-2); Ted Lieu (D-CA-36); Barry Loudermilk (R-GA-11); John R. Moolenaar (R-MI-2); Seth Moulton (D-MA-6); Dan Newhouse (R-WA-4); David Rouzer (R-NC-7); Elise M. Stefanik (R-NY-21); Norma J. Torres (D-CA-35); Bonnie Watson Coleman (D-NJ-12); Bruce Westerman (R-AR-4); Bradley Scott Schneider (D-IL-10); David G. Valadao (R-CA-22); Darin LaHood (R-IL-16); James Comer (R-KY-1); Don Bacon (R-NE-2); Nanette Diaz Barragán (D-CA-44); Jack Bergman (R-MI-1); Salud O. Carbajal (D-CA-24); J. Luis Correa (D-CA-46); Neal P. Dunn (R-FL-2); Adriano Espaillat (D-NY-13); Brian K. Fitzpatrick (R-PA-1); Josh Gottheimer (D-NJ-5); Steven Horsford (D-NV-4); Pramila Jayapal (D-WA-7); Ro Khanna (D-CA-17); Raja Krishnamoorthi (D-IL-8); David Kustoff (R-TN-8); Jimmy Panetta (D-CA-19); Jamie Raskin (D-MD-8); John H. Rutherford (R-FL-5); Lloyd Smucker (R-PA-11); Darren Soto (D-FL-9); Jimmy Gomez (D-CA-34); Thomas R. Suozzi (D-NY-3); Troy Balderson (R-OH-12); Joseph D. Morelle (D-NY-25); Mary Gay Scanlon (D-PA-5); James R. Baird (R-IN-4); Sean Casten (D-IL-6); Angie Craig (D-MN-2); Dan Crenshaw (R-TX-2); Jason Crow (D-CO-6); Sharice Davids (D-KS-3); Madeleine Dean (D-PA-4); Veronica Escobar (D-TX-16); Lizzie Fletcher (D-TX-7); Sylvia R. Garcia (D-TX-29); Jesús G. "Chuy" García (D-IL-4); Jared F. Golden (D-ME-2); Lance Gooden (R-TX-5); Michael Guest (R-MS-3); Josh Harder (D-CA-9); Jahana Hayes (D-CT-5); Chrissy Houlahan (D-PA-6); Dusty Johnson (R-SD-AL); Susie Lee (D-NV-3); Mike Levin (D-CA-49); Lucy McBath (D-GA-6); Daniel Meuser (R-PA-9); Carol D. Miller (R-WV-1); Joe Neguse (D-CO-2); Alexandria Ocasio-Cortez (D-NY-14); Ilhan Omar (D-MN-5); Chris Pappas (D-NH-1); Ayanna Pressley (D-MA-7); Guy Reschenthaler (R-PA-14); John W. Rose (R-TN-6); Kim Schrier (D-WA-8); Pete Stauber (R-MN-8); Bryan Steil (R-WI-1); Haley M. Stevens (D-MI-11); William R. Timmons IV (R-SC-4); Rashida Tlaib (D-MI-12); Lori Trahan (D-MA-3); Lauren Underwood (D-IL-14); Claudia Tenney (R-NY-24); Gregory F. Murphy (R-NC-3); Ryan K. Zinke (R-MT-1); Jake Auchincloss (D-MA-4); Cliff Bentz (R-OR-2); Stephanie I. Bice (R-OK-5); Pat Fallon (R-TX-4); Cleo Fields (D-LA-6); Michelle Fischbach (R-MN-7); Scott Fitzgerald (R-WI-5); Andrew R. Garbarino (R-NY-2); Carlos A. Gimenez (R-FL-28); Ashley Hinson (R-IA-2); Sara Jacobs (D-CA-51); Young Kim (R-CA-40); Teresa Leger Fernandez (D-NM-3); Nicole Malliotakis (R-NY-11); Lisa C. McClain (R-MI-9); Mariannette Miller-Meeks (R-IA-1); Blake D. Moore (R-UT-1); Frank J. Mrvan (D-IN-1); Jay Obernolte (R-CA-23); Burgess Owens (R-UT-4); August Pfluger (R-TX-11); Deborah K. Ross (D-NC-2); Marilyn Strickland (D-WA-10); Ritchie Torres (D-NY-15); Nikema Williams (D-GA-5); Julia Letlow (R-LA-5); Troy A. Carter (D-LA-2); Melanie A. Stansbury (D-NM-1); Jake Ellzey (R-TX-6); Shontel M. Brown (D-OH-11); Mike Carey (R-OH-15); Mike Flood (R-NE-1); Brad Finstad (R-MN-1); Patrick Ryan (D-NY-18); Rudy Yakym III (R-IN-2); Mark Alford (R-MO-4); Becca Balint (D-VT-AL); Nikki Budzinski (D-IL-13); Greg Casar (D-TX-35); Juan Ciscomani (R-AZ-6); Gilbert Ray Cisneros, Jr. (D-CA-31); Jasmine Crockett (D-TX-30); Donald G. Davis (D-NC-1); Monica De La Cruz (R-TX-15); Christopher R. Deluzio (D-PA-17); Chuck Edwards (R-NC-11); Valerie P. Foushee (D-NC-4); Maxwell Frost (D-FL-10); Robert Garcia (D-CA-42); Marie Gluesenkamp Perez (D-WA-3); Daniel S. Goldman (D-NY-10); Erin Houchin (R-IN-9); Val T. Hoyle (D-OR-4); Glenn Ivey (D-MD-4); Jonathan L. Jackson (D-IL-1); Sydney Kamlager-Dove (D-CA-37); Thomas H. Kean, Jr. (R-NJ-7); Jennifer A. Kiggans (R-VA-2); Kevin Kiley (I-CA-3); Greg Landsman (D-OH-1); Nicholas A. Langworthy (R-NY-23); Michael Lawler (R-NY-17); Laurel M. Lee (R-FL-15); Summer L. Lee (D-PA-12); Seth Magaziner (D-RI-2); Morgan McGarvey (D-KY-3); Robert Menendez (D-NJ-8); Max L. Miller (R-OH-7); Nathaniel Moran (R-TX-1); Jared Moskowitz (D-FL-23); Kevin Mullin (D-CA-15); Zachary Nunn (R-IA-3); Brittany Pettersen (D-CO-7); Delia C. Ramirez (D-IL-3); Andrea Salinas (D-OR-6); Hillary J. Scholten (D-MI-3); Eric Sorensen (D-IL-17); Dale W. Strong (R-AL-5); Emilia Strong Sykes (D-OH-13); Shri Thanedar (D-MI-13); Jill N. Tokuda (D-HI-2); Derrick Van Orden (R-WI-3); Gabe Vasquez (D-NM-2); Jennifer L. McClellan (D-VA-4); Gabe Amo (D-RI-1); Celeste Maloy (R-UT-2); Timothy M. Kennedy (D-NY-26); Vince Fong (R-CA-20); Michael A. Rulli (R-OH-6); LaMonica McIver (D-NJ-10); Yassamin Ansari (D-AZ-3); Wesley Bell (D-MO-1); Robert P. Bresnahan, Jr. (R-PA-8); Janelle S. Bynum (D-OR-5); Herbert C. Conaway, Jr. (D-NJ-3); Maxine Dexter (D-OR-3); Troy Downing (R-MT-2); Sarah Elfreth (D-MD-3); Gabe Evans (R-CO-8); Shomari Figures (D-AL-2); Laura Friedman (D-CA-30); Laura Gillen (D-NY-4); Craig A. Goldman (R-TX-12); Maggie Goodlander (D-NH-2); Adam Gray (D-CA-13); Jeff Hurd (R-CO-3); Julie Johnson (D-TX-32); George Latimer (D-NY-16); Sam T. Liccardo (D-CA-16); John W. Mannion (D-NY-22); Sarah McBride (D-DE-AL); April McClain Delaney (D-MD-6); Kristen McDonald Rivet (D-MI-8); Dave Min (D-CA-47); Kelly Morrison (D-MN-3); Johnny Olszewski, Jr. (D-MD-2); Nellie Pou (D-NJ-9); Emily Randall (D-WA-6); Josh Riley (D-NY-19); Luz M. Rivas (D-CA-29); Derek Schmidt (R-KS-2); Lateefah Simon (D-CA-12); Suhas Subramanyam (D-VA-10); David J. Taylor (R-OH-2); Derek Tran (D-CA-45); Eugene Simon Vindman (D-VA-7); George Whitesides (D-CA-27); David Scott (D-GA-13); Eric Swalwell (D-CA-14); Doug LaMalfa (R-CA-1); Tony Gonzales (R-TX-23); Sheila Cherfilus-McCormick (D-FL-20).

Nay (87): Jim Jordan (R-OH-4); Steve Scalise (R-LA-1); Tom McClintock (R-CA-5); Scott DesJarlais (R-TN-4); Paul A. Gosar (R-AZ-9); H. Morgan Griffith (R-VA-9); Andy Harris (R-MD-1); Austin Scott (R-GA-8); Daniel Webster (R-FL-11); Thomas Massie (R-KY-4); Scott Perry (R-PA-10); Randy K. Weber, Sr. (R-TX-14); Glenn Grothman (R-WI-6); Gary J. Palmer (R-AL-6); Trent Kelly (R-MS-1); Jodey C. Arrington (R-TX-19); Andy Biggs (R-AZ-5); Clay Higgins (R-LA-3); Brian J. Mast (R-FL-21); Ron Estes (R-KS-4); Ralph Norman (R-SC-5); Michael Cloud (R-TX-27); Kevin Hern (R-OK-1); Marlin A. Stutzman (R-IN-3); Tim Burchett (R-TN-2); Ben Cline (R-VA-6); Russ Fulcher (R-ID-1); John Joyce (R-PA-13); Chip Roy (R-TX-21); W. Gregory Steube (R-FL-17); Jefferson Van Drew (R-NJ-2); Thomas P. Tiffany (R-WI-7); Lauren Boebert (R-CO-4); Kat Cammack (R-FL-3); Andrew S. Clyde (R-GA-9); Byron Donalds (R-FL-19); Randy Feenstra (R-IA-4); Scott Franklin (R-FL-18); Diana Harshbarger (R-TN-1); Ronny Jackson (R-TX-13); Nancy Mace (R-SC-1); Tracey Mann (R-KS-1); Mary E. Miller (R-IL-15); Barry Moore (R-AL-1); Troy E. Nehls (R-TX-22); Victoria Spartz (R-IN-5); Beth Van Duyne (R-TX-24); Aaron Bean (R-FL-4); Eric Burlison (R-MO-7); Mike Collins (R-GA-10); Elijah Crane (R-AZ-2); Mike Ezell (R-MS-4); Russell Fry (R-SC-7); Harriet M. Hageman (R-WY-AL); Anna Paulina Luna (R-FL-13); Morgan Luttrell (R-TX-8); Richard McCormick (R-GA-7); Cory Mills (R-FL-7); Andrew Ogles (R-TN-5); Keith Self (R-TX-3); Tony Wied (R-WI-8); Tom Barrett (R-MI-7); Michael Baumgartner (R-WA-5); Nicholas J. Begich III (R-AK-AL); Sheri Biggs (R-SC-3); Jeff Crank (R-CO-5); Julie Fedorchak (R-ND-AL); Brandon Gill (R-TX-26); Abraham J. Hamadeh (R-AZ-8); Mike Haridopolos (R-FL-8); Pat Harrigan (R-NC-10); Mark Harris (R-NC-8); Brian Jack (R-GA-3); Mike Kennedy (R-UT-3); Brad Knott (R-NC-13); Ryan Mackenzie (R-PA-7); Addison P. McDowell (R-NC-6); John J. McGuire III (R-VA-5); Mark B. Messmer (R-IN-8); Riley M. Moore (R-WV-2); Tim Moore (R-NC-14); Robert F. Onder, Jr. (R-MO-3); Jefferson Shreve (R-IN-6); Randy Fine (R-FL-6); Jimmy Patronis (R-FL-1); Mark E. Green (R-TN-7); Marjorie Taylor Greene (R-GA-14).

Not voting (23): Jerrold Nadler (D-NY-12); Joe Wilson (R-SC-2); Mike Rogers (R-AL-3); Vern Buchanan (R-FL-16); Terri A. Sewell (D-AL-7); Frederica S. Wilson (D-FL-24); Dina Titus (D-NV-1); Andy Barr (R-KY-6); Joyce Beatty (D-OH-3); Ami Bera (D-CA-6); Julia Brownley (D-CA-26); Lois Frankel (D-FL-22); Brendan F. Boyle (D-PA-2); Warren Davidson (R-OH-8); Dwight Evans (D-PA-3); Vicente Gonzalez (D-TX-34); Greg Stanton (D-AZ-4); Maria Elvira Salazar (R-FL-27); Josh Brecheen (R-OK-2); Wesley Hunt (R-TX-38); John James (R-MI-10); Nick LaLota (R-NY-1); Mikie Sherrill (D-NJ-11).

Speaker, not listed (1): Mike Johnson (R-LA-4).

Not in office (13): James R. Walkinshaw (D-VA-11); Adelita S. Grijalva (D-AZ-7); Matt Van Epps (R-TN-7); Christian D. Menefee (D-TX-18); Clay Fuller (R-GA-14); Analilia Mejia (D-NJ-11); James Gallagher (R-CA-1); Everton Blair Jr. (D-GA-13); Aisha Wahab (D-CA-14); Raúl M. Grijalva (D-AZ-7); Gerald E. Connolly (D-VA-11); Michael Waltz (R-FL-6); Sylvester Turner (D-TX-18).

Summary

Main subject: 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. Sec. 2

Its core areas: Duties of the Advocate for Small Business Capital Formation; Educational resources and events on capital raising options for small businesses.

Unexpected Items: 0 provisions

What it does

Written automatically from the official text by Claude Sonnet 5.5, an AI model. Written 29 Sep 2026 and published after the automatic checks, without a person reading it first. Every line names the section it came from.

Sources