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Study on Costs for Small and Medium Businesses to Go Public

This act mandates a study to understand the costs small and medium-sized companies face when going public. The findings will help assess if these costs hinder capital raising and affect the availability of these companies' shares for everyday investors. Citizens might benefit from more companies going public in the future, potentially increasing investment opportunities.
Key points
A study will be conducted on the direct and indirect costs for small and medium-sized companies to undertake initial public offerings (IPOs), including fees for advisors and compliance costs.
The study will compare IPO costs with alternative financing methods.
It will analyze how these costs impact the availability of public securities from small and medium-sized companies for retail investors.
A report with findings and potential legislative recommendations will be submitted to Congress within 360 days.
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Status: Passed House
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Additional Information
Print number: 119_HR_3395
Sponsor: Rep. Himes, James A. [D-CT-4]
Process start date: 2025-05-14
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

Middle Market IPO Cost Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3395.

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 2025-05-14.

What are the main provisions?

Key points include:

  • A study will be conducted on the direct and indirect costs for small and medium-sized companies to undertake initial public offerings (IPOs), including fees for advisors and compliance costs.
  • The study will compare IPO costs with alternative financing methods.
  • It will analyze how these costs impact the availability of public securities from small and medium-sized companies for retail investors.
  • A report with findings and potential legislative recommendations will be submitted to Congress within 360 days.
What is the specific legal status?

The current status is Passed House.

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. Himes, James A. [D-CT-4].

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 voice vote. (text: CR H3511-3512)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

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