Bills · 119th Congress · Finance and Financial Sector

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

Also known as INVEST Act of 2025

Where it stands

  1. Introduced5/14/25
  2. Passed HousePassed 12/11/25
  3. Senate
  4. President
  5. Law

Passed the House 302–123 on December 11, 2025 (Roll Call 328 →). Received in the Senate on December 15, 2025. No Senate action since.

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Roll calls on this bill

Votes on passage
HouseOn Passage · 12/11/25PassageThe vote on whether this chamber approves the measure — usually by a simple majority of those voting. It becomes law only once both chambers pass the same text and the president signs it, or Congress overrides a veto.House: The Legislative Process ↗
Passed
  • Democratic87 Yea · 123 Nay · 3 Not voting
  • Republican215 Yea · 0 Nay · 5 Not voting
  • Independent / Other0 Yea · 0 Nay · 0 Not voting
Official summary (CRS)

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.

Full text on congress.gov ↗
Sponsor
Rep. Ann Wagner ( Republican · MO-2)
Cosponsors
4
Introduced
5/14/25
Policy area
Finance and Financial Sector

What happens next

The Senate must pass the same text, then it goes to the President.

If it isn't enacted by Jan 3, 2027, it expires when the 119th Congress ends.

All actions (32)
  1. 5/14/25Introduced in House
  2. 5/14/25Referred to the House Committee on Financial Services.
  3. 5/20/25Committee Consideration and Mark-up Session Held
  4. 5/20/25Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 10.
  5. 6/25/25Reported (Amended) by the Committee on Financial Services. H. Rept. 119-169.
  6. 6/25/25Placed on the Union Calendar, Calendar No. 135.
  7. 12/9/25Rules 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.
  8. 12/10/25Considered under the provisions of rule H. Res. 936. (consideration: CR H5534-5555; text: CR H5540-5546)
  9. 12/10/25Rule 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.
  10. 12/10/25House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 936 and Rule XVIII.
  11. 12/10/25The Speaker designated the Honorable James C. Moylan to act as Chairman of the Committee.
  12. 12/10/25GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3383.
  13. 12/10/25DEBATE - 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.
  14. 12/10/25POSTPONED 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.
  15. 12/10/25DEBATE - 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.
  16. 12/10/25DEBATE - 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.
  17. 12/10/25POSTPONED 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.
  18. 12/10/25DEBATE - 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.
  19. 12/10/25DEBATE - 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.
  20. 12/10/25POSTPONED 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.
  21. 12/10/25Mrs. Wagner moved that the committee rise.
  22. 12/10/25On motion that the committee rise Agreed to by voice vote.
  23. 12/10/25Committee of the Whole House on the state of the Union rises leaving H.R. 3383 as unfinished business.
  24. 12/11/25Considered as unfinished business. (consideration: CR H5790-5793)
  25. 12/11/25The House resolved into Committee of the Whole House on the state of the Union for further consideration.
  26. 12/11/25The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3383.
  27. 12/11/25The previous question was ordered pursuant to the rule.
  28. 12/11/25The House adopted the amendments en gros as agreed to by the Committee of the Whole House on the state of the Union.
  29. 12/11/25Passed/agreed to in House: On passage Passed by recorded vote: 302 - 123 (Roll no. 328).
  30. 12/11/25On passage Passed by recorded vote: 302 - 123 (Roll no. 328).
  31. 12/11/25Motion to reconsider laid on the table Agreed to without objection.
  32. 12/15/25Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.