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H.R. 3301

U.S. House•In Senate Committee

Summary

H.R. 3301, the ELEVATE Act of 2025, was introduced in the House on May 8, 2025 by Rep. Zachary Nunn (R) with 1 co-sponsor. It was referred to Banking, Housing, And Urban Affairs, and last saw action on Jun 24, 2025: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Record

Text

H.R. 3301 has 1 co-sponsor.

hb3301/engrossed-in-house.txt
119 HR 3301 EH: Encouraging Local Emerging Ventures and Economic Growth Act of 2025
 U.S. House of Representatives
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 IB
 119th CONGRESS  1st Session
 H. R. 3301
 IN THE HOUSE OF REPRESENTATIVES
 AN ACT
To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes.
1.
Short title
This Act may be cited as the   Encouraging Local Emerging Ventures and Economic Growth Act of 2025   or the   ELEVATE Act of 2025  .
2.
Registration statements
Section 12(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l(b) ) is amended—
(1)
in paragraph (1)(K), by striking  years,  and inserting  years (or, in the case of an emerging growth company, not more than the two preceding years), ; and
(2)
by adding at the end the following:
 Any issuer may confidentially submit to the Commission a draft registration statement for confidential nonpublic review by the staff of the Commission prior to public filing, provided that the initial confidential submission and all amendments thereto shall be publicly filed with the Commission not later than 10 days before listing on a national securities exchange. Notwithstanding any other provision of this title, the Commission shall not be compelled to disclose any information provided to or obtained by the Commission pursuant to this subsection. For purposes of section 552 of title 5, this subsection shall be considered a statute described in subsection (b)(3)(B) of such section 552. Information described in or obtained pursuant to this subsection shall be deemed to constitute confidential information for purposes of section 24.  .
    Passed the House of Representatives June 23, 2025.  Kevin F. McCumber,  Clerk.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-05-08
  2. Passed House2025-06-23
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House May 8, 2025

hb3301/introduced-in-house.md

Shown Here:
Introduced in House (05/08/2025)

This bill provides statutory authority for certain requirements related to registration statements submitted to the Securities and Exchange Commission (SEC).

First, the bill allows under statute an emerging growth company to submit profit and loss statements from the previous two years, rather than the previous three years as is required of other reporting companies. In addition, the bill allows under statute any issuer of securities to submit a draft registration statement to the SEC for confidential review prior to a public filing.

Sponsors

Rep. Zachary Nunn (R) sponsors H.R. 3301, and 1 member has co-sponsored it from the day it was introduced.

Committees

H.R. 3301 went before 2 committees: Banking, Housing, and Urban Affairs and Financial Services.

Banking, Housing, and Urban Affairs
Banking, Housing, and Urban Affairs
Referred To · Jun 24, 2025 · 465 Bills
Financial Services
Financial Services
Reported By · Jun 3, 2025 · 559 Bills

Reports

1 committee report has been filed on H.R. 3301, the latest H. Rept. 119-121.

  • H. Rept. 119-121 — ENCOURAGING LOCAL EMERGING VENTURES AND ECONOMIC GROWTH ACT OF 2025

Actions

H.R. 3301 has taken 13 actions since May 8, 2025, the latest on Jun 24, 2025.

ChamberAction
Jun 24, 2025
Senate
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Banking, Housing, and Urban Affairs Committee
Jun 23, 202516:56
House
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Jun 23, 202516:56
House
Considered under suspension of the rules. (consideration: CR H2871-2872)
Jun 23, 202516:56
House
DEBATE - The House proceeded with forty minutes of debate on H.R. 3301.
Jun 23, 202517:06
House
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2871)

Votes

H.R. 3301 has not gone to a roll call.

Titles

H.R. 3301 goes by 9 titles, 6 of them short titles.

  • To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. — Official Titles from EH (Engrossed in House) bill text
  • Encouraging Local Emerging Ventures and Economic Growth Act of 2025 — Short Titles from RFS (Referred to Senate) bill text
  • ELEVATE Act of 2025 — Short Titles from RFS (Referred to Senate) bill text
  • ELEVATE Act of 2025 — Short Title(s) as Passed House
  • Encouraging Local Emerging Ventures and Economic Growth Act of 2025 — Short Title(s) as Passed House
  • ELEVATE Act of 2025 — Display Title
  • ELEVATE Act of 2025 — Short Title(s) as Reported to House
  • Encouraging Local Emerging Ventures and Economic Growth Act of 2025 — Short Title(s) as Reported to House
  • To amend the Securities Exchange Act of 1934 to specify certain registration statement contents for emerging growth companies, to permit issuers to file draft registration statements with the Securities and Exchange Commission for confidential review, and for other purposes. — Official Title as Introduced

Lobbying

3 clients hired 3 firms and 108 registered lobbyists who named H.R. 3301 in 9 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Small Business, Banking, Budget/Appropriations, Financial Institutions/Investments/Securities, Labor Issues/Antitrust/Workplace, Taxation/Internal Revenue Code, Aerospace, Automotive Industry.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
CHAMBER OF COMMERCE OF THE U.S.A.—District of Columbia16—
SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL (SBE COUNCIL)—Virginia12—
AMERICANS FOR FINANCIAL REFORM—District of Columbia11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
CHAMBER OF COMMERCE OF THE U.S.A.16—
SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL (SBE COUNCIL)12—
AMERICANS FOR FINANCIAL REFORM11—

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 108.

LobbyistFirmsClientsFilings
ABELARDO TORRES116
ALEXA BRANSON116
ANDREA PORWOLL116
ASHLEY GUM116
BRADLEY WATTS116
BRINCE MANNING116
BROOKE MILLER116
CASSIA CARVALHO116
CHAD WHITEMAN116
CHANTEL SHEAKS116
CHRISTOPHER CRENSHAW116
CHRISTOPHER EYLER116
CHRISTOPHER GUITH116
CHRISTOPHER ROBERTI116
CLARK JACKSON116
DAN BYERS116
ERIN DELANEY116
ESPERANZA JELALIAN116
FOXHALL PARKER116
GARY LITMAN116

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 first_quarter$19.8M1st Quarter - Amendme…
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 first_quarter$19.8M1st Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 second_quarter$19.3M2nd Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 fourth_quarter$18M4th Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 second_quarter$17M2nd Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 third_quarter$13.7M3rd Quarter - Report
AMERICANS FOR FINANCIAL REFORMAMERICANS FOR FINANCIAL REFORM2025 second_quarter$150K2nd Quarter - Report
SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL (SBE COUNCIL)SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL (SBE COUNCIL)2025 second_quarter$65K2nd Quarter - Report
SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL (SBE COUNCIL)SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL (SBE COUNCIL)2025 third_quarter$55K3rd Quarter - Report

Classification

The Congressional Research Service files H.R. 3301 under Finance and Financial Sector, one of its 31 policy areas, and gives it 6 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 3301’s is Finance and Financial Sector.

hr3301/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Legislative Subjects

H.R. 3301 carries 6 of CRS’s legislative subjects, from Administrative law and regulatory procedures to Securities and Exchange Commission (SEC).

hr3301/subjects.txt
Administrative law and regulatory proceduresBusiness recordsGovernment information and archivesLicensing and registrationsSecuritiesSecurities and Exchange Commission (SEC)

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 3301, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 77 (Thursday, May 8, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. NUNN of Iowa:H.R. 3301.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8 of the United States ConstitutionTo make all laws which should be necessary and proper forcarrying into execution in the foregoing powers, and allother powers vested by this Constitution in the government ofthe United States, or in any Department or Officer thereof.[Page H1945]

Source: congress.gov · legiscan.com