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Improving Access to Small Business Information Act
To amend the Securities Exchange Act of 1934 to specify that actions of the Advocate for Small Business Capital Formation are not a collection of information under the Paperwork Reduction Act.
Summary
This bill amends the Securities Exchange Act to exempt the SEC's Advocate for Small Business Capital Formation from most Paperwork Reduction Act requirements. The Paperwork Reduction Act normally requires federal agencies to get approval from the Office of Management and Budget before collecting information from the public and to display control numbers on information requests. Under this bill, the Advocate's actions are no longer considered "collections of information" under that law, removing the need for OMB approval, control numbers, and related administrative requirements. Some limited Paperwork Reduction Act requirements still apply to the Advocate's work.
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)
1 cosponsor
Actions (2)
- Dec 10, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Dec 10, 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
December 10, 2025
Mrs. Britt (for herself and Ms. Cortez Masto) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Securities Exchange Act of 1934 to specify that actions of the Advocate for Small Business Capital Formation are not a collection of information under the Paperwork Reduction 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 “Improving Access to Small Business Information Act”.
SEC. 2. PAPERWORK REDUCTION ACT REQUIREMENTS EXEMPTIONS.
Section 4(i) of the Securities Exchange Act of 1934 (15 U.S.C. 78d(i)) is amended by adding at the end the following:
“(10) Preservation of information collection burden review.—
“(A) In general.—Actions taken by the Advocate for Small Business Capital Formation under this subsection shall not be a ‘collection of information’ for purposes of subchapter I of chapter 35 of title 44, United States Code (commonly known as the ‘Paperwork Reduction Act’).
“(B) Exceptions.—Notwithstanding subparagraph
(A), the requirements under subsections (c)(1), (c)(4), and (i) of section 3506 of title 44, United States Code, and section 3507(a)(1)(A) of that title shall apply to actions taken by the Advocate for Small Business Capital Formation under this subsection, except that the Commission shall not be required—
“(i) to submit a collection of information by the Advocate to the Director of the Office of Management and Budget, as referenced in section 3506(c)(1)(A) of such title;
“(ii) to display a control number on a collection of information by the Advocate, as described in section 3506(c)(1)(B)(i) of that title (or to inform a person receiving a collection of information from the Advocate that the collection of information needs to display a control number, as described in section 3506(c)(1)(B)(iii)(V) of that title); or
“(iii) to indicate a collection of information by the Advocate is in accordance with the clearance requirements of section 3507 of that title, as described in section 3506(c)(1)(B)(ii) of that title.”. <all>
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