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Legislative Update: House Passes H.R. 3351

By: Quiver LegislationRadar

Posted: 7 hours ago / July 21, 2025, 11:53 p.m. UTC

The House has successfully passed H.R. 3351 – the Improving Access to Small Business Information Act. This significant piece of legislation was introduced by Representative Young Kim and received a strong bipartisan vote of 387 in favor and only 12 against.

Tracking Lobbying and Trade Activity

For those interested in understanding the financial interests behind this bill, you can monitor corporate lobbying activities and related congressional stock trades through Quiver Quantitative’s dedicated H.R. 3351 bill page. This will provide insights into how various entities are responding to and influencing the legislative process.

Overview of H.R. 3351

Bill Summary

H.R. 3351, officially known as the Improving Access to Small Business Information Act, primarily seeks to amend the Securities Exchange Act of 1934. The bill specifically addresses the role of the Advocate for Small Business Capital Formation. The crux of the bill is to clarify that actions executed by this Advocate do not fall under the "collection of information" designation as outlined in the Paperwork Reduction Act.

This change is pivotal as it could facilitate a more efficient flow of information and resources to small businesses, ultimately supporting their growth and operational needs.

Key Provisions of the Bill

The bill includes several important provisions aimed at easing operational constraints:

• The Advocate for Small Business Capital Formation will be empowered to take specific actions without being subjected to the typical paperwork requirements dictated by the Paperwork Reduction Act.

• Importantly, this exemption means that the Advocate will not be obligated to seek approval from the Office of Management and Budget for information collections. This can significantly expedite processes, allowing for quicker assistance to small businesses.

• Despite these exemptions, it is crucial to note that the Advocate will still have to adhere to essential compliance requirements related to certain sections of the Paperwork Reduction Act, ensuring that operational efficiency does not come at the cost of necessary oversight.

Exceptions and Compliance Requirements

While the bill introduces favorable exemptions, there are still compliance obligations that the Advocate must fulfill:

• The Advocate is required to maintain compliance with specific stipulations in the Paperwork Reduction Act regarding recordkeeping and reporting.

• Even though the Advocate is relieved from submitting collections to the Office of Management and Budget, it must provide necessary compliance information in its communications with stakeholders.

The Impact on Small Businesses

The principal goal of this legislation is to enhance access to vital information for small business owners. By streamlining processes and reducing the administrative burdens typically placed on the Advocate, this bill aims to foster greater support for small businesses in securing capital and navigating complex regulatory frameworks. Ultimately, these changes could lead to a more robust small business environment, enabling quicker responses to emerging needs.

The Role of AI legalese decoder

For small business owners and stakeholders, navigating legal text can often be daunting. The AI legalese decoder becomes a vital tool in this context, translating complex legal jargon into plain language. This service can empower business owners to not only understand the implications of bills like H.R. 3351 but also to actively engage in the legislative process, ensuring they are well-informed advocates for their interests.

Relevant Companies

Currently, there are no specified companies impacted by this bill.

This article is not financial advice. Bill summaries may be unreliable. For more details, consult Congress.gov for the full bill text. Refer to Quiver Quantitative’s disclaimers for additional information.

Other Recent Proposals by Representative Young Kim

In addition to H.R. 3351, Representative Young Kim has introduced several other bills recently:

• H.R.4407: An act aimed at supporting and stabilizing the nursing workforce in the United States, including programs to increase the number of nurses.

• H.R.4233: The ARMOR Act.

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

• H.R.3350: A designation for the United States Postal Service facility located at 340 East 1st Street in Tustin, California, as the "Ursula Ellen Kennedy Post Office Building."

• H.R.3292: The REPORT Act.

You can keep track of bills proposed by Representative Young Kim on Quiver Quantitative’s dedicated politician page for Kim.

Representative Young Kim’s Financial Standing

As of July 21, 2025, Quiver Quantitative estimates that Representative Young Kim has a net worth of $3.6 million, placing her as the 172nd highest net worth among members of Congress based on current estimates. It is noteworthy that Kim reportedly holds approximately $0 invested in publicly traded assets that Quiver can track live.

For ongoing updates on Representative Young Kim’s financials, you can visit Quiver Quantitative’s designated page for Kim.

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