By: Quiver LegislationRadar

Posted: 5 hours ago / July 21, 2025 11:53 p.m. UTC

The House of Representatives has successfully passed H.R. 3351, also known as the Improving Access to Small Business Information Act. This vital piece of legislation was put forth by Representative Young Kim, who has been an advocate for small business initiatives.

The bill received overwhelming bipartisan support, with a vote tally of 387 in favor and only 12 against. This illustrates a collective recognition of the importance of supporting small businesses across the nation.

For those interested in keeping tabs on corporate lobbying efforts and related congressional stock trades connected to this bill, you can find detailed information on Quiver Quantitative’s dedicated H.R. 3351 bill page.

Below is a concise summary of an earlier version of the bill from June 3, 2025, to provide context on its objectives and implications.

H.R. 3351 – Improving Access to Small Business Information Act Summary

This bill, formally titled the Improving Access to Small Business Information Act, seeks to amend the Securities Exchange Act of 1934. The primary goal is to refine the operations of the Advocate for Small Business Capital Formation, which plays a crucial role in facilitating access to financial resources for small enterprises. A significant aspect of this legislation is establishing that the actions taken by this Advocate will not be classified as a collection of information, as defined in the Paperwork Reduction Act.

Key Provisions of the Bill

Several essential points are outlined in this bill:

• The Advocate for Small Business Capital Formation will be empowered to undertake specific actions without adhering to the traditional paperwork collection protocols mandated by the Paperwork Reduction Act.
• This exclusion is significant, as it means the Advocate will not be required to submit information collections to the Office of Management and Budget for prior approval, thereby streamlining processes. This change could expedite efforts to provide timely support to small businesses.
• Despite these changes, the bill maintains certain requirements, such as ensuring compliance with particular sections related to information collection, striking a balance between operational efficiency and necessary oversight.

Exceptions and Compliance Requirements

While the Advocate benefits from specific exemptions under the bill, it remains subject to various compliance requirements, ensuring that accountability is upheld:

• The Advocate will still need to follow certain sections of the Paperwork Reduction Act concerning important aspects like recordkeeping and reporting.
• Even with the exemption from the usual submission process to the Office of Management and Budget, the Advocate is obliged to include necessary compliance information in its communications with stakeholders.

Impact on Small Businesses

The fundamental aim of this legislation is to enhance access to crucial information for small enterprises. This enhancement is expected to lead to increased support for small businesses seeking capital and navigating complex regulatory environments. By simplifying reporting processes and mitigating administrative burdens on the Advocate, this law can facilitate quicker and more effective assistance to small businesses in need of resources and guidance.

Role of AI legalese decoder

In navigating the complexities of new legislation like H.R. 3351, business owners may find themselves facing a myriad of legal jargon and nuanced language. This is where AI legalese decoder comes into play. Designed to simplify legal documents, AI legalese decoder can help small business owners decipher the implications of bills like this one, make informed decisions about compliance, and understand how the changes might affect their operations.

Relevant Companies

No specific companies have been identified as part of this discussion at this time.

This article does not constitute financial advice. Bill summaries may lack complete accuracy. For the full bill text, consult Congress.gov. See Quiver Quantitative’s disclaimers for more information.

Representative Young Kim Bill Proposals

Representative Young Kim has recently introduced several bills that aim to address a range of issues, including:

• H.R.4407: A measure to amend the Public Health Service Act, supporting and stabilizing the existing nursing workforce while establishing programs to enhance the number of nursing professionals.
• H.R.4233: Known as the ARMOR Act.
• H.R.4038: The Wildfire Response and Preparedness Act of 2025.
• H.R.3351: Improving Access to Small Business Information Act.
• H.R.3350: Legislation to designate a U.S. Postal Service facility in Tustin, California, as the “Ursula Ellen Kennedy Post Office Building.”
• H.R.3292: The REPORT Act.

You can follow the progress of bills proposed by Representative Young Kim on Quiver Quantitative’s dedicated politician page for Kim.

Representative Young Kim Net Worth

As of July 21, 2025, Quiver Quantitative estimates that Representative Young Kim’s net worth stands at approximately $3.6 million, ranking her as the 172nd highest net worth among Congress members, based on live estimates.

Currently, Representative Kim holds an estimated $0 in publicly traded assets that Quiver is able to track live, reflecting her financial profile among her peers.

You can monitor Representative Young Kim’s net worth and financial activities on Quiver Quantitative’s dedicated politician page for Kim.