H.R. 3381 119th Congress House

Encouraging Public Offerings Act of 2025

Official title: 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.

Introduced: May 14, 2025 Introduced by: Ann Wagner Republican · Missouri See on congress.gov

Finance and Financial Sector Financial services and investmentsGovernment information and archivesSecurities

Everywhere this bill has been 13 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 24, 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Jun 23, 2025

Passed/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, 2025

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2872-2873)

Jun 23, 2025

DEBATE - The House proceeded with forty minutes of debate on H.R. 3381.

Jun 23, 2025

Considered under suspension of the rules. (consideration: CR H2872-2873)

Jun 23, 2025

Mrs. Wagner moved to suspend the rules and pass the bill, as amended.

Jun 23, 2025

Motion to reconsider laid on the table Agreed to without objection.

Jun 3, 2025

Placed on the Union Calendar, Calendar No. 86.

Jun 3, 2025

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-116.

May 20, 2025

Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 2.

May 20, 2025

Committee Consideration and Mark-up Session Held

May 14, 2025

Referred to the House Committee on Financial Services.

May 14, 2025

Introduced in House

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What's happening now June 24, 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Plain-English summary Congressional Research Service

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.

Hearings & markups 1

Various Measures
Markup May 20, 2025 · 10:00 AM EDT · Financial Services Committee

Bill text 4 versions

Engrossed in House Formatted Text PDF Formatted XML
Introduced in House Formatted Text PDF Formatted XML
Referred in Senate Formatted Text PDF Formatted XML
Reported in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 2

Financial Services Committee
House of Representatives
Banking, Housing, and Urban Affairs Committee
Senate

Lobbying activity 16

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION
for SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION · District of Columbia · 3rd Quarter 2026 (July 1 - Sep 30)
CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 2nd Quarter 2026 (Apr 1 - June 30)
CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 1st Quarter 2026 (Jan 1 - Mar 31)
SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION
for SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION · District of Columbia · 2nd Quarter 2026 (Apr 1 - June 30)
CHAMBER OF COMMERCE OF THE U.S.A.
for CHAMBER OF COMMERCE OF THE U.S.A. · District of Columbia · 1st Quarter 2026 (Jan 1 - Mar 31)

Bodies those filers lobbied

HOUSE OF REPRESENTATIVES
16 filings
SENATE
16 filings
Executive Office of the President (EOP)
15 filings
Labor, Dept of (DOL)
15 filings
Treasury, Dept of
15 filings
Federal Reserve System
14 filings
Federal Deposit Insurance Corporation (FDIC)
13 filings
Homeland Security, Dept of (DHS)
13 filings

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 16 filings →

Cosponsors 2

Meeks, Gregory W.

New York · May 14, 2025

Sessions, Pete

Texas · May 14, 2025

Cite this page click to expand

APA

U.S. Congress. (2026). H.R. 3381: Encouraging Public Offerings Act of 2025. 119th Congress. Open America. https://openamerica.io/bill/119-HR-3381/

MLA

"H.R. 3381: Encouraging Public Offerings Act of 2025." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-3381/.

Bluebook (legal)

H.R. 3381, 119th Cong. (2026), https://openamerica.io/bill/119-HR-3381/.

Markdown link

[H.R. 3381: Encouraging Public Offerings Act of 2025](https://openamerica.io/bill/119-HR-3381/)