Encouraging Public Offerings Act of 2025
Latest action · Jun 24, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 14, 2025
- Passed HouseJun 23, 2025
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Encouraging Public Offerings Act of 2025
This bill provides statutory authority for all issuers of securities to use certain offering procedures that are available to emerging growth companies.
Specifically, the bill allows under statute issuers of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., test the waters).
Additionally, issuers are allowed under statute to submit to the Securities and Exchange Commission, with respect to an initial public offering, initial registration, or follow-on offering, a confidential draft registration statement for review prior to public filing.
Cosponsors 2
Members who signed on, in the order they did. All signed on May 14, 2025.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Gregory W. Meeks | Original | May 14, 2025 |
| R-TX | Pete Sessions | Original | May 14, 2025 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred May 14, 2025Markup May 20, 2025Reported Jun 3, 2025 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Jun 24, 2025 |
Actions 12
Everything that happened, newest first.
- Jun 24, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jun 23, 2025Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
- Jun 23, 2025Considered under suspension of the rules. (consideration: CR H2872-2873)
- Jun 23, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 3381.
- Jun 23, 2025Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2872-2873)
- Jun 23, 2025Motion to reconsider laid on the table Agreed to without objection.
- Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-116.
- Jun 3, 2025Placed on the Union Calendar, Calendar No. 86.
- May 20, 2025Committee Consideration and Mark-up Session Held
- May 20, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 2.
- May 14, 2025Introduced in House
- May 14, 2025Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H2872, H2873Text printed H2872 | Ann Wagner R-MO, Brad Sherman D-CA | Jun 23, 2025 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 171, no. 81, May 14, 2025, page H2052.
CRS reports 2
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 2
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R48885 | The Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act of 2025 (H.R. 3383) | Report | Mar 24, 2026 |
| IF12999 | Legislative Proposals Affecting Capital Markets Funding | Resource | Jun 25, 2025 |
Titles 6
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Securities Act of 1933 to expand the ability to use testing the waters and confidential draft registration submissions, and for other purposes.
- Short Title(s) as Introduced
- Encouraging Public Offerings Act of 2025
- Short Title(s) as Reported to House
- Encouraging Public Offerings Act of 2025
- Short Title(s) as Passed House
- Encouraging Public Offerings Act of 2025
- Short Titles from RFS (Referred to Senate) bill text
- Encouraging Public Offerings Act of 2025
- Official Title from EH (Engrossed in House) bill text
- To amend the Securities Act of 1933 to expand the ability to use testing the waters and confidential draft registration submissions, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Jun 24, 2025Referred in Senate
- Jun 23, 2025Engrossed in House
- Jun 3, 2025Reported in House
- May 14, 2025Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
