Bills · 119th Congress · Commerce

Promoting Opportunities for Non-Traditional Capital Formation Act

Where it stands

  1. Introduced5/15/25
  2. Passed HousePassed 6/23/25
  3. Senate
  4. President
  5. Law

Passed the House 321–87 on June 23, 2025 (Roll Call 174 →). Received in the Senate on June 24, 2025. No Senate action since.

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Roll calls on this bill

Votes on passage
HouseOn Motion to Suspend the Rules and Pass, as Amended · 6/23/25Suspension of the rulesA fast-track House procedure, usually for measures expected to have broad support. Debate is limited to 40 minutes, no amendments can be offered, and it needs a two-thirds vote of members voting — not a simple majority. A yes vote passes the bill. “As amended” means changes written into the motion itself are included.Rules of the House, Rule XV, clause 1 ↗
Passed
  • Democratic199 Yea · 0 Nay · 13 Not voting
  • Republican122 Yea · 87 Nay · 10 Not voting
  • Independent / Other0 Yea · 0 Nay · 0 Not voting
Official summary (CRS)

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.

Full text on congress.gov ↗
Sponsor
Rep. Maxine Waters ( Democrat · CA-43)
Cosponsors
1
Introduced
5/15/25
Policy area
Commerce

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 (15)
  1. 5/15/25Introduced in House
  2. 5/15/25Referred 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: 50 - 0.
  5. 6/3/25Reported (Amended) by the Committee on Financial Services. H. Rept. 119-117.
  6. 6/3/25Placed on the Union Calendar, Calendar No. 87.
  7. 6/23/25Mr. Downing moved to suspend the rules and pass the bill, as amended.
  8. 6/23/25Considered under suspension of the rules. (consideration: CR H2875-2876)
  9. 6/23/25DEBATE - The House proceeded with forty minutes of debate on H.R. 3422.
  10. 6/23/25At 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.
  11. 6/23/25Considered as unfinished business. (consideration: CR H2879)
  12. 6/23/25Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)
  13. 6/23/25On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 87 (Roll no. 174). (text: CR H2875)
  14. 6/23/25Motion to reconsider laid on the table Agreed to without objection.
  15. 6/24/25Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.