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Business Owners Protection Act of 2025
To terminate unused authorities of the Securities and Exchange Commission that were established pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Summary
The bill terminates certain Securities and Exchange Commission authorities that were established under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Specifically, it terminates authorities that gave the SEC discretion to establish requirements for private entities and for which the SEC had not issued a notice of proposed rulemaking or guidance document by January 1, 2025. The termination becomes effective upon the bill's enactment. The SEC must submit to Congress and publish a publicly available list of all terminated authorities within 180 days of enactment.
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)
- Sen. Ricketts, Pete [R-NE] (R-NE)
9 cosponsors
- Sen. Banks, Jim [R-IN] (R-IN)
- Sen. Britt, Katie Boyd [R-AL] (R-AL)
- Sen. Budd, Ted [R-NC] (R-NC)
- Sen. Cotton, Tom [R-AR] (R-AR)
- Sen. Curtis, John R. [R-UT] (R-UT)
- Sen. Hagerty, Bill [R-TN] (R-TN)
- Sen. McConnell, Mitch [R-KY] (R-KY)
- Sen. McCormick, David [R-PA] (R-PA)
- Sen. Tillis, Thomas [R-NC] (R-NC)
Actions (2)
- May 19, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- May 19, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
May 19, 2025
Mr. Ricketts (for himself and Mr. Curtis) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To terminate unused authorities of the Securities and Exchange Commission that were established pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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 “Business Owners Protection Act of 2025”.
SEC. 2. TERMINATION OF CERTAIN UNUSED AUTHORITIES OF SECURITIES AND EXCHANGE COMMISSION.
Section 23 of the Securities Exchange Act of 1934 (15 U.S.C. 78w) is amended by adding at the end the following:
“(e) Termination of Certain Unused Authorities.—
“(1) In general.—With respect to authorities of the Commission that were established pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5301 et seq.), any such authority that provides discretion as to whether to establish a requirement for private entities, and for which the Commission had not issued a notice of proposed rulemaking under section 553 of title 5, United States Code, or guidance document before January 1, 2025, is terminated upon the date of enactment of this subsection.
“(2) Inclusion of authorities.—The reference in paragraph
(1) to authorities established pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5301 et seq.) includes authorities established for the Commission through amendments made by such Act to this Act.
“(3) List of authorities.—Not later than 180 days after the date of enactment of this subsection, the Commission shall submit to Congress and publish a publicly available list of each authority that is terminated under paragraph (1).”. <all>
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