Small Entity Update Act

Senate Bill

S. 2924

119th Congress

Small Entity Update Act

In Committee

Introduced:Sep 29, 2025

Primary Sponsor

Sponsor information unavailable

Cosponsors

0

Quick Stats

Summary

This bill requires the Securities and Exchange Commission (SEC) to study and update its definition of "small entity" for regulatory purposes. The SEC must conduct this study within one year and again every five years, then adjust its rules based on the findings to ensure more businesses qualify as small entities.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Introduced9/29/2025

StatusRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

ChamberSenate

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Vote Prediction

Small Entity Update Act

This bill requires the Securities and Exchange Commission (SEC) to study and update its definition of "small entity" for regulatory purposes. The SEC must conduct this study within one year and again every five years, then adjust its rules based on the finding

Community Breakdown

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This bill requires the Securities and Exchange Commission (SEC) to study and update its definition of "small entity" for regulatory purposes. The SEC must conduct this study within one year and again every five years, then adjust its rules based on the findings to ensure more businesses qualify as small entities.

Bill Number: 2924
Introduced: 9/29/2025
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Small Entity Update Act
Bill Number: 2924
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced: 9/29/2025
Summary: This bill requires the Securities and Exchange Commission (SEC) to study and update its definition of "small entity" for regulatory purposes. The SEC must conduct this study within one year and again every five years, then adjust its rules based on the findings to ensure more businesses qualify as s

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill requires the Securities and Exchange Commission (SEC) to study and update its definition of "small entity" for regulatory purposes. The SEC must conduct this study within one year and again every five years, then adjust its rules based on the findings to ensure more businesses qualify as small entities.

Last updated: 2/20/2026

Key Points

Main provisions of the bill

The SEC must study whether its current definition of "small entity" accurately reflects which businesses should be considered small in today's financial markets.
The study must examine how much financial markets have grown since the definition was last updated and recommend ways to expand the number of businesses covered.
The SEC must submit a report to Congress with its findings and specific recommendations for updating the definition.
After completing each study, the SEC must revise its rules through a public comment process to align with the study results.
Every five years after the initial update, the SEC must adjust dollar thresholds in the definition to account for inflation using the Consumer Price Index.

How This Impacts Americans

Potential effects on citizens and communities

This bill affects businesses regulated by the SEC, particularly smaller companies that may benefit from regulatory flexibility designed for small entities. By potentially expanding the definition of "small entity," more businesses could qualify for reduced regulatory burdens or special considerations under federal law. The bill also affects the SEC itself by requiring ongoing studies and rule updates to keep the definition current with market conditions.

Policy Areas

No policy areas assigned yet.

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2924, 119th Congress (2025). "Small Entity Update Act". Source: Voter's Right Platform. https://votersright.org/bills/119-s-2924

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