HR 2792 · 118th Congress · Finance and Financial Sector
Small Entity Update Act
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2023-05-31)
Recorded Votes
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Plain Language Summary
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Small Entity Update Act This bill requires the Securities and Exchange Commission (SEC) to report on and revise the definition of small entity every five years. Agencies are required to consider the impact of their rules on small entities under the Regulatory Flexibility Act. Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of small entity to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered. The SEC must also issue a proposed rule to implement these recommendations.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 2792, Small Entity Update Act
May 26, 2023As ordered reported by the House Committee on Financial Services on April 26, 2023
Full CBO report ↗H.R. 2792, Small Entity Update Act
May 26, 2023As ordered reported by the House Committee on Financial Services on April 26, 2023
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (5)
4 Democrats1 Republican