H.R. 3383 Passed the House Finance and Financial Sector

Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025

To amend the Investment Company Act of 1940 with respect to the authority of closed-end companies to invest in private funds.

Introduced
Committee
Passed House
Passed Senate
To President
Became law

Sponsor Rep. Wagner, Ann [R-MO-2] Introduced May 14, 2025 Cosponsors 4 (3 D, 1 R) Latest action December 15, 2025

Summary

Increasing Investor Opportunities Act
This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Roll-call votes

HouseDec 11, 2025·Roll 328·H.R. 3383
Increasing Investor Opportunities Act
On Passage

Passed302–123
R 215–0 D 87–123
HouseDec 11, 2025·Roll 327·H.R. 3383
On Agreeing to the Amendment
On Agreeing to the Amendment

Failed214–215
R 2–214 D 212–1
HouseDec 11, 2025·Roll 326·H.R. 3383
On Agreeing to the Amendment
On Agreeing to the Amendment

Failed211–219
R 4–213 D 207–6
HouseDec 11, 2025·Roll 325·H.R. 3383
On Agreeing to the Amendment
On Agreeing to the Amendment

Failed54–374
R 53–165 D 1–209

Actions

Dec 15, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 11, 2025 Motion to reconsider laid on the table Agreed to without objection.
Dec 11, 2025 On passage Passed by recorded vote: 302 - 123 (Roll no. 328).
Dec 11, 2025 Passed/agreed to in House: On passage Passed by recorded vote: 302 - 123 (Roll no. 328).
Dec 11, 2025 The House adopted the amendments en gros as agreed to by the Committee of the Whole House on the state of the Union.
Dec 11, 2025 The previous question was ordered pursuant to the rule.
Dec 11, 2025 The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3383.
Dec 11, 2025 The House resolved into Committee of the Whole House on the state of the Union for further consideration.
Dec 11, 2025 Considered as unfinished business. (consideration: CR H5790-5793)
Dec 10, 2025 Committee of the Whole House on the state of the Union rises leaving H.R. 3383 as unfinished business.
Dec 10, 2025 On motion that the committee rise Agreed to by voice vote.
Dec 10, 2025 Mrs. Wagner moved that the committee rise.
Dec 10, 2025 POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 5, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Dec 10, 2025 DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 5.
Dec 10, 2025 DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 4.
Dec 10, 2025 POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 3, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Dec 10, 2025 DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 3.
Dec 10, 2025 DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Self amendment No. 2.
Dec 10, 2025 POSTPONED PROCEEDINGS - At the conclusion of debate on the Self amendment No. 1, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Mr. Self demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Dec 10, 2025 DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Self amendment No. 1.
Dec 10, 2025 GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3383.
Dec 10, 2025 The Speaker designated the Honorable James C. Moylan to act as Chairman of the Committee.
Dec 10, 2025 House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 936 and Rule XVIII.
Dec 10, 2025 Rule provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, H.R. 3668 and S. 1071. The resolution provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, and H.R. 3628 under a structured rule; and H.R. 3668 and S. 1071 under a closed rule. The resolution provides for one motion to recommit on H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, and H.R. 3668; and one motion to commit on S. 1071.
Dec 10, 2025 Considered under the provisions of rule H. Res. 936. (consideration: CR H5534-5555; text: CR H5540-5546)
Dec 9, 2025 Rules Committee Resolution H. Res. 936 Reported to House. Rule provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, H.R. 3668 and S. 1071. The resolution provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, and H.R. 3628 under a structured rule; and H.R. 3668 and S. 1071 under a closed rule. The resolution provides for one motion to recommit on H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, and H.R. 3668; and one motion to commit on S. 1071.
Jun 25, 2025 Placed on the Union Calendar, Calendar No. 135.
Jun 25, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-169.
May 20, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 10.
May 20, 2025 Committee Consideration and Mark-up Session Held
May 14, 2025 Referred to the House Committee on Financial Services.
May 14, 2025 Introduced in House

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