HR 3301 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
Summary
This bill amends the Securities Exchange Act of 1934 to modify registration requirements for emerging growth companies and enable confidential SEC review of registration statements. Emerging growth companies would be permitted to file registration statements with only two years of financial data instead of additional years. The bill permits any issuer to confidentially submit draft registration statements to the SEC for nonpublic staff review prior to public filing, with all submissions and amendments publicly filed no later than 10 days before listing on a national securities exchange. The SEC is not required to disclose information submitted under this confidential review process, and such information is treated as confidential and exempt from FOIA disclosure requirements.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Nunn, Zachary [R-IA-3] (R-IA)
1 cosponsor
Money behind the sponsor
Top reported contributors to Zachary Nunn’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $397,838
- MARQUIS MANAGEMENT INC. $16,550
- BRODIE GENERATIONAL CAPITAL PARTNERS $16,500
- STARKEY HEARING TECHNOLOGIES $13,200
- APOLLO GLOBAL MGMT $13,000
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Zachary Nunn → · Outside spending →
Actions (13)
- Jun 24, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Jun 23, 2025 Motion to reconsider laid on the table Agreed to without objection. · house
- Jun 23, 2025 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2871) · house
- Jun 23, 2025 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)
- Jun 23, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 3301. · house
- Jun 23, 2025 Considered under suspension of the rules. (consideration: CR H2871-2872) · house
- Jun 23, 2025 Mrs. Wagner moved to suspend the rules and pass the bill, as amended. · house
- Jun 3, 2025 Placed on the Union Calendar, Calendar No. 91. · house
- Jun 3, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-121. · house
- May 20, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 1. · house
- May 20, 2025 Committee Consideration and Mark-up Session Held · house
- May 8, 2025 Referred to the House Committee on Financial Services. · house
- May 8, 2025 Introduced in House
More bills on these subjects (8)
Other bills that carry the most legislative subjects in common with this one (topical discovery — distinct from the procedural related bills above).
Text versions (4)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 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”.
SEC. 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.
Attest:
Clerk. 119th CONGRESS
1st Session
H. R. 3301
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.
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