[Report No. 119–118, Part I]
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
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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the Improving Access to Small Business Information Act
.
Sec. 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 informationfor purposes of subchapter I of chapter 35 of title 44, United States Code (commonly known as thePaperwork 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.