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Increased Opportunities for Diverse-Owned Asset Management Firms

This act aims to improve access to federal investment funds for asset management firms owned by women and minorities. This means citizens can expect greater diversity in the management of their retirement funds and other federal investments, potentially leading to better returns and reduced risk.
Key points
Increased Transparency: Federal institutional investors will annually report on the assets managed by diverse-owned firms, broken down by race, ethnicity, and gender.
Barrier Removal: The act seeks to identify and remove obstacles that limit diverse-owned firms' access to federal contracts.
Improved Practices: The Secretary of Labor will survey and publish best practices in fund management to help both public and private retirement funds adopt more inclusive selection processes for asset management firms.
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Status: Expired
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Additional Information
Print number: 118_HR_10336
Sponsor: Rep. Beatty, Joyce [D-OH-3]
Process start date: 2024-12-10
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Too Narrow to Succeed Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10336.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-10.

What are the main provisions?

Key points include:

  • Increased Transparency: Federal institutional investors will annually report on the assets managed by diverse-owned firms, broken down by race, ethnicity, and gender.
  • Barrier Removal: The act seeks to identify and remove obstacles that limit diverse-owned firms' access to federal contracts.
  • Improved Practices: The Secretary of Labor will survey and publish best practices in fund management to help both public and private retirement funds adopt more inclusive selection processes for asset management firms.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Beatty, Joyce [D-OH-3].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Public Investments