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H.R. 3301 · 119th Congress

Encouraging Local Emerging Ventures and Economic Growth Act of 2025

ELEVATE Act of 2025

Introduced May 8, 2025Policy area: Finance and Financial Sector

Read the textOn Congress.gov

Status: Passed House

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Law

Latest action

: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summary

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.

Summary by the Congressional Research Service.

Actions

  1. Senate

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

  2. House

    Motion to reconsider laid on the table Agreed to without objection.

  3. House

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2871)

  4. House

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3301.

  5. House

    Considered under suspension of the rules. (consideration: CR H2871-2872)

  6. House

    Mrs. Wagner moved to suspend the rules and pass the bill, as amended.

  7. House

    Placed on the Union Calendar, Calendar No. 91.

  8. House

    Reported (Amended) by the Committee on Financial Services. H. Rept. 119-121.

  9. House

    Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 1.

  10. House

    Committee Consideration and Mark-up Session Held

  11. House

    Referred to the House Committee on Financial Services.

  12. Introduced in House