Plain English
GovGreed Synthesis ·
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.
Market Impact Map
Action Timeline
2025-06-24
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2025-06-23
Motion to reconsider laid on the table Agreed to without objection.
2025-06-23
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2871)
2025-06-23
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2871)
2025-06-23
DEBATE - The House proceeded with forty minutes of debate on H.R. 3301.
2025-06-23
Considered under suspension of the rules. (consideration: CR H2871-2872)
2025-06-23
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
2025-06-03
Placed on the Union Calendar, Calendar No. 91.
2025-06-03
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-121.
2025-06-03
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-121.
Full Bill Text
119 HR 3301 EH: Encouraging Local Emerging Ventures and Economic Growth Act of 2025 U.S. House of Representatives text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IB 119th CONGRESS 1st Session H. R. 3301 IN THE HOUSE OF REPRESENTATIVES AN ACT 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. Short title This Act may be cited as the Encouraging Local Emerging Ventures and Economic Growth Act of 2025 or the ELEVATE Act of 2025 . 2. Registration statements Section 12(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l(b) ) is amended— (1) in paragraph (1)(K), by striking years, and inserting years (or, in the case of an emerging growth company, not more than the two preceding years), ; and (2) by adding at the end the following: Any issuer may confidentially submit to the Commission a draft registration statement for confidential nonpublic review by the staff of the Commission prior to public filing, provided that the initial confidential submission and all amendments thereto shall be publicly filed with the Commission not later than 10 days before listing on a national securities exchange. Notwithstanding any other provision of this title, the Commission shall not be compelled to disclose any information provided to or obtained by the Commission pursuant to this subsection. For purposes of section 552 of title 5, this subsection shall be considered a statute described in subsection (b)(3)(B) of such section 552. Information described in or obtained pursuant to this subsection shall be deemed to constitute confidential information for purposes of section 24. . Passed the House of Representatives June 23, 2025. Kevin F. McCumber, Clerk.
Loading intelligence layer…