The House has passed H.R. 3351 - Improving Access to Small Business Information Act. This bill was introduced by Representative Young Kim.
The vote was 387-12.
You can track corporate lobbying on this bill and relevant congressional stock trades on Quiver Quantitative's H.R. 3351 bill page.
Here is a short summary of a June 3, 2025 version of the bill.
H.R. 3351 - Improving Access to Small Business Information Act Summary
This bill, titled the
Improving Access to Small Business Information Act
, aims to amend the Securities Exchange Act of 1934 specifically regarding the operations of the Advocate for Small Business Capital Formation. The main purpose of the bill is to establish that actions taken by this Advocate do not fall under the definition of a
collection of information
as described in the Paperwork Reduction Act.
Key Provisions of the Bill
The bill includes the following critical points:
- The Advocate for Small Business Capital Formation can take certain actions without needing to follow the usual paperwork collection protocols set out by the Paperwork Reduction Act.
- This exclusion signifies that the Advocate will not have to submit information collections to the Office of Management and Budget for approval as typically required. This can streamline processes and potentially speed up the ability to support small businesses.
- However, some requirements still apply, such as maintaining compliance with specific sections of the title related to the collection of information, indicating a balance between operational efficiency and necessary oversight.
Exceptions and Compliance Requirements
While the bill provides exemptions for the Advocate, there are still requirements that need to be adhered to:
- The Advocate will need to comply with certain sections of the Paperwork Reduction Act concerning recordkeeping and reporting.
- Despite the exemption from submitting collections to the Office of Management and Budget, the Advocate must still include necessary compliance indications in its stakeholder communications.
Impact on Small Businesses
The intended outcome of the bill is to improve access to information for small businesses, potentially leading to greater support in obtaining capital and navigating regulatory environments. The measures outlined could simplify reporting and decrease administrative burdens on the Advocate, allowing for more swift assistance to small businesses in need.
Relevant Companies
None found
This article is not financial advice. Bill summaries may be unreliable. Consult Congress.gov for full bill text. See Quiver Quantitative's disclaimers for more information.
Representative Young Kim Bill Proposals
Here are some bills which have recently been proposed by Representative Young Kim:
- H.R.4407: To amend the Public Health Service Act to support and stabilize the existing nursing workforce, establish programs to increase the number of nurses, and for other purposes.
- H.R.4233: ARMOR Act
- H.R.4038: Wildfire Response and Preparedness Act of 2025
- H.R.3351: Improving Access to Small Business Information Act
- H.R.3350: To designate the facility of the United States Postal Service located at 340 East 1st Street in Tustin, California, as the "Ursula Ellen Kennedy Post Office Building".
- H.R.3292: REPORT Act
You can track bills proposed by Representative Young Kim on Quiver Quantitative's politician page for Kim.
Representative Young Kim Net Worth
Quiver Quantitative estimates that Representative Young Kim is worth $3.6M, as of July 21st, 2025. This is the 172nd highest net worth in Congress, per our live estimates.
Kim has approximately $0 invested in publicly traded assets which Quiver is able to track live.
You can track Representative Young Kim's net worth on Quiver Quantitative's politician page for Kim.
