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H.R. 3383 119th Congress House

Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025

Official title: To amend the Investment Company Act of 1940 with respect to the authority of closed-end companies to invest in private funds.

Introduced: May 14, 2025 Introduced by: Ann Wagner Republican · Missouri See on congress.gov
Finance and Financial Sector Banking and financial institutions regulationFinancial services and investmentsSecurities
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 Everywhere this bill has been 31 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 15, 2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 11, 2025
On passage Passed by recorded vote: 302 - 123 (Roll no. 328).
Dec 11, 2025
The House adopted the amendments en gros as agreed to by the Committee of the Whole House on the state of the Union.
Dec 11, 2025
The previous question was ordered pursuant to the rule.
Dec 11, 2025
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3383.
Dec 11, 2025
The House resolved into Committee of the Whole House on the state of the Union for further consideration.
Dec 11, 2025
Considered as unfinished business. (consideration: CR H5790-5793)
Dec 11, 2025
Motion to reconsider laid on the table Agreed to without objection.
Dec 10, 2025
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3383.
Dec 10, 2025
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 936 and Rule XVIII.
Dec 10, 2025
Committee of the Whole House on the state of the Union rises leaving H.R. 3383 as unfinished business.
Dec 10, 2025
On motion that the committee rise Agreed to by voice vote.
Dec 10, 2025
Mrs. Wagner moved that the committee rise.
Dec 10, 2025
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 5, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Dec 10, 2025
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 5.
Dec 10, 2025
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 4.
Dec 10, 2025
POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 3, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Dec 10, 2025
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 3.
Dec 10, 2025
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Self amendment No. 2.
Dec 10, 2025
POSTPONED PROCEEDINGS - At the conclusion of debate on the Self amendment No. 1, the Chair put the question on agreeing to the amendment and by voice vote, announced the noes had prevailed. Mr. Self demanded a recorded vote, and the Chair postponed further proceedings until a time to be announced.
Dec 10, 2025
DEBATE - Pursuant to the provisions of H.Res. 936, the Committee of the Whole proceeded with 10 minutes of debate on the Self amendment No. 1.
Dec 10, 2025
The Speaker designated the Honorable James C. Moylan to act as Chairman of the Committee.
Dec 10, 2025
Considered under the provisions of rule H. Res. 936. (consideration: CR H5534-5555; text: CR H5540-5546)
Dec 10, 2025
Rule provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, H.R. 3668 and S. 1071. The resolution provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, and H.R. 3628 under a structured rule; and H.R. 3668 and S. 1071 under a closed rule. The resolution provides for one motion to recommit on H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, and H.R. 3668; and one motion to commit on S. 1071.
Dec 9, 2025
Rules Committee Resolution H. Res. 936 Reported to House. Rule provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, H.R. 3668 and S. 1071. The resolution provides for consideration of H.R. 3898, H.R. 3383, H.R. 3638, and H.R. 3628 under a structured rule; and H.R. 3668 and S. 1071 under a closed rule. The resolution provides for one motion to recommit on H.R. 3898, H.R. 3383, H.R. 3638, H.R. 3628, and H.R. 3668; and one motion to commit on S. 1071.
Jun 25, 2025
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-169.
Jun 25, 2025
Placed on the Union Calendar, Calendar No. 135.
May 20, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 10.
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
 Votes taken on this bill 4
DateChamberWhat was voted onResultYes–No
Dec 11, 2025 House · vote #328 On Passage Passed 302–123 See who voted →
Dec 11, 2025 House · vote #327 On Agreeing to the Amendment Failed 214–215 See who voted →
Dec 11, 2025 House · vote #326 On Agreeing to the Amendment Failed 211–219 See who voted →
Dec 11, 2025 House · vote #325 On Agreeing to the Amendment Failed 54–374 See who voted →
 Amendments to this bill 5

Amendments propose changes to this bill. Members vote on amendments separately before the final bill vote. An agreed amendment becomes part of the bill; a failed amendment does not.

1 agreed to 4 failed

AmendmentSponsorPurposeStatusLatest action
HAMDT 127 Waters, Maxine Amendment sought to define and prohibit fees charged by Securities and Exchange Commission-registered individ… Failed Dec 11, 2025
HAMDT 125 Waters, Maxine Amendment sought to require investment advisers and hedge funds to perform know-your-customer verification an… Failed Dec 11, 2025
HAMDT 123 Self, Keith Amendment sought to strike section 307 relating to enhancing multi-class share disclosures. Failed Dec 11, 2025
HAMDT 126 Waters, Maxine An amendment numbered 4 printed in Part B of House Report 119-399 to provide additional transparency and acco… Failed Dec 10, 2025
HAMDT 124 Self, Keith An amendment numbered 2 printed in Part B of House Report 119-399 to modify section 105 to clarify that the s… Agreed to Dec 10, 2025
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What's happening now December 15, 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

Increasing Investor Opportunities Act

This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds. This bill also apples to a closed-end company treated as a business development company.  

 Hearings & markups 2
 Related & companion bills 2
  • S 3671 Increasing Investor Opportunities Act
  • HRES 936 Providing for consideration of the bill (H.R. 3898) to amend the Federal Water Pollution Control Act to make targeted r…
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Lobbying activity 160

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

Bodies those filers lobbied

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 160 filings →
 Cosponsors 4
All 4 Democratic 2 Republican 1
D
Meeks, Gregory W.
New York · May 14, 2025
 D
Scott, David
Georgia · May 14, 2025
 R
Sessions, Pete
Texas · May 14, 2025
 D
Torres, Ritchie
New York · May 14, 2025
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3383: Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025. 119th Congress. Open America. https://openamerica.io/bill/119-HR-3383/
MLA
"H.R. 3383: Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-3383/.
Bluebook (legal)
H.R. 3383, 119th Cong. (2026), https://openamerica.io/bill/119-HR-3383/.
Markdown link
[H.R. 3383: Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025](https://openamerica.io/bill/119-HR-3383/)
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