Promoting Opportunities for Non-Traditional Capital Formation Act
Summary
What This Bill Does
The Promoting Opportunities for Non-Traditional Capital Formation Act amends Securities Exchange Act section 4(j)(4), which defines duties of the SEC Advocate for Small Business Capital Formation. The Advocate must provide educational resources and host or participate in events for small businesses and small-business investors. Those resources and events must raise awareness of capital-raising options for underrepresented small businesses, including women-owned small businesses and minority-owned small businesses; businesses located in rural areas; and small businesses affected by hurricanes or other natural disasters. The Advocate also must meet at least annually with representatives of state securities commissions to discuss collaboration and coordination on efforts to assist small businesses and small-business investors.
Who Benefits and How
Women-owned small businesses, minority-owned small businesses, rural small businesses, disaster-affected small businesses, small-business investors, state securities commissions, state small-business outreach staff, entrepreneurs seeking nontraditional capital, and local economic-development organizations benefit because the bill directs SEC small-business outreach toward groups that may have less access to conventional capital markets and requires recurring state-federal coordination.
Who Bears the Burden and How
The SEC Advocate for Small Business Capital Formation, SEC small-business outreach staff, state securities commission representatives, event hosts, capital-formation educators, and SEC program managers bear burdens because they must create educational resources, attend or host events, tailor materials to underrepresented, rural, and disaster-affected businesses, and maintain annual coordination with state securities regulators.
Key Provisions
- Amends Exchange Act section 4(j)(4) to add new Advocate duties.
- Requires educational resources and events for small businesses and small-business investors.
- Requires outreach on capital-raising options for women-owned, minority-owned, rural, and disaster-affected small businesses.
- Requires annual meetings with state securities commissions.
- Provides a state-federal coordination channel for small-business capital formation outreach.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Expands the SEC Advocate for Small Business Capital Formation's duties by requiring educational resources, events, and annual state-securities-commission coordination focused on capital-raising options for women-owned, minority-owned, rural, and disaster-affected small businesses.
Key Policy Areas
Small Business, Financial Services, Capital Formation
Primary Purpose
Expands the SEC Advocate for Small Business Capital Formation's duties by requiring educational resources, events, and annual state-securities-commission coordination focused on capital-raising options for women-owned, minority-owned, rural, and disaster-affected small businesses.
Policy Domains
Substantive provisions
Identified Gains
- Women-owned small businesses
- Minority-owned small businesses
- Rural small businesses
- Disaster-affected small businesses
- Small-business investors
- State securities commissions
- State small-business outreach staff
- Entrepreneurs seeking nontraditional capital
- Local economic-development organizations
Identified Costs
- SEC Advocate for Small Business Capital Formation
- SEC small-business outreach staff
- State securities commission representatives
- Event hosts
- Capital-formation educators
- SEC program managers
Sponsors
Legislative Progress
Passed HouseReceived; read twice and referred to theCommittee on Banking, Housing, …
Passed House (inferred from eh version)
Received in the Senate and Read twice and referred to …
Considered as unfinished business. (consideration: CR H2879)
Motion to reconsider laid on the table Agreed to without …
On motion to suspend the rules and pass the bill, …
Passed/agreed to in House: On motion to suspend the rules …
DEBATE - The House proceeded with forty minutes of debate …
At the conclusion of debate, the Yeas and Nays were …
Considered under suspension of the rules. (consideration: CR H2875-2876)
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Disaster-affected small businesses, Minority-owned small businesses, Rural small businesses
SEC Advocate for Small Business Capital Formation
On Motion to Suspend the Rules and Pass, as Amended
Promoting Opportunities for Non-Traditional Capital Formation Act
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "advocate"
- → SEC Advocate for Small Business Capital Formation
- "underrepresented_small_businesses"
- → women-owned and minority-owned small businesses named in the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology