H.R. 3301 Passed the House Finance and Financial Sector

ELEVATE Act of 2025

To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Nunn, Zachary [R-IA-3] Introduced May 8, 2025 Cosponsors 1 (1 D) Latest action June 24, 2025

Summary

This bill provides statutory authority for certain requirements related to registration statements submitted to the Securities and Exchange Commission (SEC).
First, the bill allows under statute an emerging growth company to submit profit and loss statements from the previous two years, rather than the previous three years as is required of other reporting companies. In addition, the bill allows under statute any issuer of securities to submit a draft registration statement to the SEC for confidential review prior to a public filing.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Jun 24, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jun 23, 2025 Motion to reconsider laid on the table Agreed to without objection.
  3. Jun 23, 2025 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2871)
  4. Jun 23, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 3301.
  5. Jun 23, 2025 Considered under suspension of the rules. (consideration: CR H2871-2872)
  6. Jun 23, 2025 Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
  7. Jun 3, 2025 Placed on the Union Calendar, Calendar No. 91.
  8. Jun 3, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-121.
  9. May 20, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 1.
  10. May 20, 2025 Committee Consideration and Mark-up Session Held
  11. May 8, 2025 Referred to the House Committee on Financial Services.
  12. May 8, 2025 Introduced in House

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