H.R. 3422 · Passed House · Commerce

Promoting Opportunities for Non-Traditional Capital Formation Act

Sponsor: Maxine Waters (D-CA)

What it does

• Expands the duties of the SEC's Office of the Advocate for Small Business Capital Formation.
• Requires the office to provide educational resources and host or join events promoting capital-raising options for underrepresented, rural, and disaster-affected small businesses.
• Requires the office to meet annually with state securities commission representatives on collaboration and coordination.

Official summary

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.

Latest action

Jun 24, 2025: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committee: Senate Banking, Housing, and Urban Affairs