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H.R.3301 / 119th Congress

ELEVATE Act of 2025

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

Official summary

Version 00 · Introduced in House · May 8, 2025

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.

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Who introduced it

Rep. Nunn, Zachary [R-IA-3] · R–IA

Committees

  • Banking, Housing, and Urban Affairs Committee
  • Financial Services Committee
1 cosponsorship records, including any withdrawals

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

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

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

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

  4. Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2871)

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

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

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

  8. Placed on the Union Calendar, Calendar No. 91.

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

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

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

  12. Committee Consideration and Mark-up Session Held

  13. Referred to the House Committee on Financial Services.

  14. Introduced in House

  15. Introduced in House

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Jul 13, 2026. Consult Congress.gov for the current record.

Explore the bill from different angles

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Neutral evidence review

Objective

Analyze H.R.3301 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Fairness and public impact

Progressive lens

Examine H.R.3301 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Institutions and government scope

Conservative lens

Examine H.R.3301 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Individual rights and government power

Liberty lens

Examine H.R.3301 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

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