Small Entity Update Act
This bill requires the Securities and Exchange Commission (SEC) to report on and revise the definition of small entity every five years. Agencies are required to consider the impact of their rules on small entities under the Regulatory Flexibility Act.
Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of small entity to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered.
The SEC must also issue a proposed rule to implement these recommendations.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2023-05-31 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
| 2023-05-30 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2023-05-30 | Vote | On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 367 - 8 (Roll no. 238). (text: CR H2652) | House floor actions |
| 2023-05-30 | Floor | Considered as unfinished business. (consideration: CR H2661-2662) | House floor actions |
| 2023-05-30 | Floor | At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. | House floor actions |
| 2023-05-30 | Floor | DEBATE - The House proceeded with forty minutes of debate on H.R. 2792. | House floor actions |
| 2023-05-30 | Floor | Considered under suspension of the rules. (consideration: CR H2652-2653) | House floor actions |
| 2023-05-30 | Floor | Mrs. Wagner moved to suspend the rules and pass the bill, as amended. | House floor actions |
| 2023-05-30 | Calendars | Placed on the Union Calendar, Calendar No. 59. | House floor actions |
| 2023-05-30 | Committee | Reported (Amended) by the Committee on Financial Services. H. Rept. 118-80. | House floor actions |
| 2023-04-26 | Committee | Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 0. | House committee actions |
| 2023-04-26 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2023-04-20 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2023-04-20 | IntroReferral | Introduced in House | Library of Congress |