Developing and Empowering our Aspiring Leaders Act of 2025
Latest action · Dec 2, 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.
- IntroducedJul 16, 2025
- Passed HouseDec 1, 2025
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Developing and Empowering our Aspiring Leaders Act of 2025
This bill directs the Securities and Exchange Commission to revise venture capital investment regulations to allow additional types of investments to be considered as qualifying investments. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current regulations, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund.
The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jul 21, 2025.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IL | Sean Casten | Jul 21, 2025 |
Actions 16
Everything that happened, newest first.
- Dec 2, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Dec 1, 2025Considered under suspension of the rules.
- Dec 1, 2025Considered under suspension of the rules. (consideration: CR H4948-4950)
- Dec 1, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 4429.
- Dec 1, 2025Motion to reconsider laid on the table Agreed to without objection.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Dec 2, 2025Referred in Senate
- Dec 1, 2025Engrossed in House
- Sep 8, 2025Reported in House
- Jul 16, 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.