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

By: Quiver LegislationRadar
Posted: 6 hours ago / July 21, 2025 11:53 p.m. UTC

The recent passage of H.R. 3351, officially titled the Improving Access to Small Business Information Act, represents a significant step towards enhancing the operational framework for small businesses in America. Sponsored by Representative Young Kim, this legislation received overwhelming bipartisan support, culminating in a vote tally of 387-12.

For those interested in corporate lobbying activities surrounding this bill, as well as congressional stock trades, detailed tracking is available on Quiver Quantitative’s dedicated H.R. 3351 bill page. Further insights regarding the bill’s numerous iterations and changes can also be accessed there.

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

This pivotal legislation seeks to amend the Securities Exchange Act of 1934 with a particular focus on the functions of the Advocate for Small Business Capital Formation. The principal aim of H.R. 3351 is to delineate that actions undertaken by this Advocate are exempt from being classified as a collection of information under the stipulations of the Paperwork Reduction Act.

Key Provisions of the Bill

The critical points distilled from the bill include:

• Operational Flexibility: The Advocate for Small Business Capital Formation is now authorized to execute specific functions without being encumbered by the conventional paperwork collection mandates enforced by the Paperwork Reduction Act.

• Streamlined Processes: By permitting this exclusion, the Advocate can bypass the usual requirement of submitting information collections for approval by the Office of Management and Budget. This is expected to expedite processes and enhance the Advocate’s capability to support small businesses.

• Balancing Oversight and Efficiency: Despite these exemptions, the Advocate will still be required to observe certain compliance necessities laid out in specific sections of the Paperwork Reduction Act, thus achieving a harmonious balance between efficient operations and essential oversight.

Exceptions and Compliance Requirements

While H.R. 3351 provides significant exemptions for the Advocate, it simultaneously establishes certain compliance responsibilities:

• Adherence to Documentation Standards: The Advocate must still navigate specific sections of the Paperwork Reduction Act concerning rigorous recordkeeping and reporting protocols.

• Stakeholder Communication Clarity: Even with its exemption from the Office of Management and Budget, it is crucial for the Advocate to articulate necessary compliance indications in communications directed towards stakeholders.

Impact on Small Businesses

The implications of H.R. 3351 are far-reaching, particularly in enhancing the accessibility of vital information for small businesses. This legislative advancement is expected to catalyze better support mechanisms for small enterprises, especially in their quests for capital and during interactions with regulatory frameworks. By simplifying reporting requirements and mitigating administrative loads on the Advocate, the bill aims to facilitate quicker assistance to small businesses in critical need.

How AI legalese decoder Can Help

In the complex landscape of legal documentation and amendments like H.R. 3351, the AI legalese decoder serves as an invaluable resource. This tool can demystify the dense, often convoluted legal language, making it easier for entrepreneurs and small business owners to grasp the nuances of the legislation. By translating legal jargon into plain English, it empowers stakeholders to understand their rights, responsibilities, and the potential impacts on their operations.

Letting small businesses access a tool like the AI legalese decoder grants them the knowledge they need to navigate the implications of such legislation effectively, ensuring they are well-informed and prepared to leverage benefits arising from these legal changes.

Relevant Companies

Currently, no specific companies have been identified in relation to H.R. 3351.

This article does not constitute financial advice. Please consult Congress.gov for the full text of the bill, as bill summaries can sometimes be incomplete. Refer to Quiver Quantitative’s disclaimers for additional details.

Representative Young Kim’s Bill Proposals

In addition to H.R. 3351, Representative Young Kim has put forth various other significant legislative proposals:

• H.R. 4407: Aiming to amend the Public Health Service Act to bolster and stabilize the existing nursing workforce and create initiatives to increase the number of nurses, along with related purposes.

• H.R. 4233: Known as the ARMOR Act.

• H.R. 4038: The Wildfire Response and Preparedness Act of 2025.

• H.R. 3350: To designate the USPS facility at 340 East 1st Street in Tustin, California, as the Ursula Ellen Kennedy Post Office Building.

• H.R. 3292: Referred to as the REPORT Act.

You can keep up with legislative activities initiated by Representative Young Kim by visiting Quiver Quantitative’s politician page dedicated to her.

Representative Young Kim Net Worth

As of July 21, 2025, Quiver Quantitative estimates that Representative Young Kim has a net worth of approximately $3.6M, positioning her as the 172nd wealthiest member of Congress. Interestingly, Kim holds $0 in publicly traded assets that Quiver is currently tracking.

For recurring updates concerning Representative Young Kim’s net worth, you can check Quiver Quantitative’s dedicated politician page for her.

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