HR 3301
Passed a chamber
Lets companies submit draft registration statements to the SEC for confidential staff review before public filing, and lets emerging growth companies include two years of preceding financial statements instead of three.
Official title: ELEVATE Act of 2025
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
08-MAY-2025
Referred
08-MAY-2025
Approved by committee
20-MAY-2025
Reported
03-JUN-2025
On the calendar
03-JUN-2025
Passed
23-JUN-2025
Senate
Received
24-JUN-2025
- Allows any issuer to submit a draft registration statement to the SEC for nonpublic staff review before public filing.
- Requires the initial confidential submission and all amendments to be publicly filed at least 10 days before listing on a national securities exchange.
- For emerging growth companies, reduces the required preceding years of financial statements from three to two.
- Bars the SEC from being compelled to disclose information submitted under this provision and treats that information as confidential under section 24.
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (08-MAY-2025); the text has changed since (Engrossed in House, 23-JUN-2025).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.govFinance and Financial Sector
■ 1 D
1 Democrat