Improving Access to Small Business Information Act

Bill: 119-hr-3351
Sponsor: full_name: Rep. Kim, Young [R-CA-40]
Introduced: 2025-05-13
Policy area: Finance and Financial Sector
Subjects: Business records

Government information and archives

Small business
Latest action: action_date: 2025-07-22
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2025-05-13
action_desc: Introduced in House
text: <p><strong>Improving Access to Small Business Information Act </strong></p><p>This bill excludes from the Paperwork Reduction Act actions taken by the Office of the Advocate for Small Business Capital Formation within the Securities and Exchange Commission. Under the Paperwork Reduction Act, agencies must comply with specific procedures when gathering information from the public.</p><p>The bill establishes several exceptions. For example, the office must inform the person receiving the collection of information the reasons the information is being collected, as required under current law.</p>

tv_txt: IIB 119th CONGRESS 1st Session H. R. 3351 IN THE SENATE OF THE UNITED STATES July 22, 2025 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Securities Exchange Act of 1934 to specify that actions of the Advocate for Small Business Capital Formation are not a collection of information under the Paperwork Reduction Act.

1. Short title This Act may be cited as the Improving Access to Small Business Information Act . 2. Paperwork Reduction Act requirements exemptions Section 4(j) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j) ) is amended by adding at the end the following: (10) Preservation of information collection burden review (A) In general Actions taken by the Advocate for Small Business Capital Formation under this subsection shall not be a collection of information for purposes of subchapter I of chapter 35 of title 44, United States Code (commonly known as the Paperwork Reduction Act ). (B) Exceptions Notwithstanding subparagraph (A), the requirements under subsections (c)(1), (c)(4), and (i) of section 3506 of title 44, United States Code, and section 3507(a)(1)(A) of such title shall apply to actions taken by the Advocate for Small Business Capital Formation under this subsection, except that the Commission shall not be required— (i) to submit a collection of information by the Advocate to the Director of the Office of Management and Budget, as referenced under section 3506(c)(1)(A) of such title; (ii) to display a control number on a collection of information by the Advocate, as described under section 3506(c)(1)(B)(i) of such title (or to inform a person receiving a collection of information from the Advocate that the collection of information needs to display a control number, as described under section 3506(c)(1)(B)(iii)(V) of such title); or (iii) to indicate a collection of information by the Advocate is in accordance with the clearance requirements of section 3507 of such title, as described under section 3506(c)(1)(B)(ii) of such title. .

Passed the House of Representatives July 21, 2025. Kevin F. McCumber, Clerk.

tv_txt: I 119th CONGRESS 1st Session H. R. 3351 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Securities Exchange Act of 1934 to specify that actions of the Advocate for Small Business Capital Formation are not a collection of information under the Paperwork Reduction Act.

1. Short title This Act may be cited as the Improving Access to Small Business Information Act . 2. Paperwork Reduction Act requirements exemptions Section 4(j) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j) ) is amended by adding at the end the following: (10) Preservation of information collection burden review (A) In general Actions taken by the Advocate for Small Business Capital Formation under this subsection shall not be a collection of information for purposes of subchapter I of chapter 35 of title 44, United States Code (commonly known as the Paperwork Reduction Act ). (B) Exceptions Notwithstanding subparagraph (A), the requirements under subsections (c)(1), (c)(4), and (i) of section 3506 of title 44, United States Code, and section 3507(a)(1)(A) of such title shall apply to actions taken by the Advocate for Small Business Capital Formation under this subsection, except that the Commission shall not be required— (i) to submit a collection of information by the Advocate to the Director of the Office of Management and Budget, as referenced under section 3506(c)(1)(A) of such title; (ii) to display a control number on a collection of information by the Advocate, as described under section 3506(c)(1)(B)(i) of such title (or to inform a person receiving a collection of information from the Advocate that the collection of information needs to display a control number, as described under section 3506(c)(1)(B)(iii)(V) of such title); or (iii) to indicate a collection of information by the Advocate is in accordance with the clearance requirements of section 3507 of such title, as described under section 3506(c)(1)(B)(ii) of such title. .

Passed the House of Representatives July 21, 2025. Kevin F. McCumber, Clerk.

tv_txt: IB Union Calendar No. 88 119th CONGRESS 1st Session H. R. 3351 [Report No. 119–118, Part I] IN THE HOUSE OF REPRESENTATIVES May 13, 2025 Mrs. Kim (for herself and Mr. Gottheimer ) introduced the following bill; which was referred to the Committee on Financial Services , and in addition to the Committee on Oversight and Government Reform , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned June 3, 2025 Additional sponsor: Mr. Sessions June 3, 2025 Reported from the Committee on Financial Services with an amendment Strike out all after the enacting clause and insert the part printed in italic June 3, 2025 Committee on Oversight and Government Reform discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed For text of introduced bill, see copy of bill as introduced on May 13, 2025 A BILL To amend the Securities Exchange Act of 1934 to specify that actions of the Advocate for Small Business Capital Formation are not a collection of information under the Paperwork Reduction Act.

1. Short title This Act may be cited as the Improving Access to Small Business Information Act . 2. Exclusion from the Paperwork Reduction Act Section 4(j) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j) ) is amended by adding at the end the following: (10) Exclusion from the Paperwork Reduction Act (A) In general Actions taken by the Advocate for Small Business Capital Formation under this subsection shall not be a collection of information for purposes of subchapter I of chapter 35 of title 44, United States Code (commonly known as the Paperwork Reduction Act ). (B) Exceptions Notwithstanding subparagraph (A), the requirements under subsections (c)(1), (c)(4), and (i) of section 3506 of title 44, United States Code, and section 3507(a)(1)(A) of such title shall apply to actions taken by the Advocate for Small Business Capital Formation under this subsection, except that the Commission shall not be required— (i) to submit a collection of information by the Advocate to the Director of the Office of Management and Budget, as referenced under section 3506(c)(1)(A) of such title; (ii) to display a control number on a collection of information by the Advocate, as described under section 3506(c)(1)(B)(i) of such title (or to inform a person receiving a collection of information from the Advocate that the collection of information needs to display a control number, as described under section 3506(c)(1)(B)(iii)(V) of such title); or (iii) to indicate a collection of information by the Advocate is in accordance with the clearance requirements of section 3507 of such title, as described under section 3506(c)(1)(B)(ii) of such title. .

June 3, 2025 Reported from the Committee on Financial Services with an amendment June 3, 2025 Committee on Oversight and Government Reform discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed

tv_txt: I 119th CONGRESS 1st Session H. R. 3351 IN THE HOUSE OF REPRESENTATIVES May 13, 2025 Mrs. Kim (for herself and Mr. Gottheimer ) introduced the following bill; which was referred to the Committee on Financial Services , and in addition to the Committee on Oversight and Government Reform , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend the Securities Exchange Act of 1934 to specify that actions of the Advocate for Small Business Capital Formation are not a collection of information under the Paperwork Reduction Act.

1. Short title This Act may be cited as the Improving Access to Small Business Information Act . 2. Exclusion from the Paperwork Reduction Act Section 4(j) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d(j) ) is amended by adding at the end the following: (10) Exclusion from the Paperwork Reduction Act (A) In general Actions taken by the Advocate for Small Business Capital Formation under this subsection shall not be a collection of information for purposes of subchapter I of chapter 35 of title 44, United States Code (commonly known as the Paperwork Reduction Act ). (B) Exceptions Notwithstanding subparagraph (A) the requirements under subsections (c)(1), (c)(4), and (i) of section 3506 of such title and section 3507(a)(1)(A) of such title shall apply to actions taken by the Advocate for Small Business Capital Formation under this subsection, except that the Commission shall not be required— (i) to submit a collection of information by the Advocate to the Director of the Office of Management and Budget, as referenced under section 3506(c)(1)(A) of such title; (ii) to display a control number on a collection of information by the Advocate, as described under section 3506(c)(1)(B)(i) of such title (or to inform a person receiving a collection of information from the Advocate that the collection of information needs to display a control number, as described under section 3506(c)(1)(B)(iii)(V) of such title); or (iii) to indicate a collection of information by the Advocate is in accordance with the clearance requirements of section 3507 of such title, as described under section 3506(c)(1)(B)(ii) of such title. .