arrow_back Back to App

Small Business Support: New Definitions and Regulatory Updates

This act requires the Securities and Exchange Commission (SEC) to study and update the definition of "small entity." The goal is to include more businesses under this definition, potentially providing them with more support and regulatory relief. The definition will also be adjusted for inflation to remain relevant.
Key points
SEC will review and update the definition of a small entity to include more businesses.
The small entity definition will be regularly adjusted for inflation to ensure its accuracy.
These changes could make it easier for small businesses to access capital and reduce regulatory burdens.
article Official text account_balance Process page
VOTING RESULTS
2023-05-30
98%
For 367
Against 8
Abstain 0
Full voting results open_in_new
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_2792
Sponsor: Rep. Wagner, Ann [R-MO-2]
Process start date: 2023-04-20
Voting date: 2023-05-30
Meeting no: 1
Voting no: 238
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Small Entity Update Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2792.

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 2023-04-20.

What are the main provisions?

Key points include:

  • SEC will review and update the definition of a small entity to include more businesses.
  • The small entity definition will be regularly adjusted for inflation to ensure its accuracy.
  • These changes could make it easier for small businesses to access capital and reduce regulatory burdens.
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

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Wagner, Ann [R-MO-2].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 367 - 8 (Roll no. 238). (text: CR H2652)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy