H.R. 3301: ELEVATE Act of 2025

119th Congress · introduced 2025-05-08 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

What does this mean?

Official title

ELEVATE Act of 2025

Plain 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.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

ELEVATE Act of 2025

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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Officials and money

Sponsor: Rep. Nunn, Zachary [R-IA-3] · 1 cosponsors

Money: No cost estimate published yet. No linked contracts or vendors yet.

Words on this page, explained (3)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.
Statute: A written law passed by a legislature. A statute can be changed by a later law; changing a constitution needs an amendment.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr3301.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>

Record fed-us-cong119-hr3301 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills