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H.R. 3383Passed House

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

Introduced: May 14, 2025

Latest action date: Dec 15, 2025

Latest development

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

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Congress
119th Congress
Introduced
May 14, 2025
Recorded roll calls
4

Status detail: The full action history records passage in the House.

Plain-language overview

What this bill does

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.  

Official summary from Congress.gov.

Civixly topics

What this legislation is about

Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.

Official CRS policy area

Finance and Financial Sector

View 3 official legislative subjects
Banking and financial institutions regulationFinancial services and investmentsSecurities

Committee activity

Committees and subcommittees that received, reviewed, marked up, or reported this legislation.

Amendments

Proposed changes to this measure, with their latest official outcome or action from Congress.gov.

View amendments5 amendments
H.Amdt. 127houseNot agreed toDec 11, 2025

Amendment sought to define and prohibit fees charged by Securities and Exchange Commission-registered individuals and entities that are not clearly disclosed or proportional to the services provided.

An amendment numbered 5 printed in Part B of House Report 119-399 to define and prohibit fees charged by SEC-registered individuals and entities that are not clearly disclosed or proportional to the services provided.

Latest action: On agreeing to the Waters amendment (A005) Failed by recorded vote: 214 - 215 (Roll no. 327). (consideration: CR H5792)

Congress.gov ↗
H.Amdt. 125houseNot agreed toDec 11, 2025

Amendment sought to require investment advisers and hedge funds to perform know-your-customer verification and implement anti-money laundering procedures for foreign clients.

An amendment numbered 3 printed in Part B of House Report 119-399 to require investment advisers and hedge funds to perform know-your-customer verification and implement anti-money laundering procedures for foreign clients.

Latest action: On agreeing to the Waters amendment (A003) Failed by recorded vote: 211 - 219 (Roll no. 326). (consideration: CR H5791)

Congress.gov ↗
H.Amdt. 123houseNot agreed toDec 11, 2025

Amendment sought to strike section 307 relating to enhancing multi-class share disclosures.

An amendment numbered 1 printed in Part B of House Report 119-399 to strike section 307 relating to enhancing multi-class share disclosures.

Latest action: On agreeing to the Self amendment (A001) Failed by recorded vote: 54 - 374 (Roll no. 325). (consideration: CR H5790-5791)

Congress.gov ↗
H.Amdt. 126houseNot agreed toDec 10, 2025

An amendment numbered 4 printed in Part B of House Report 119-399 to provide additional transparency and accountability for entities making exempt offerings under Regulation D via additional disclosure requirements on Form Ds.

Latest action: On agreeing to the Waters amendment (A004) Failed by voice vote.

Congress.gov ↗
H.Amdt. 124houseAgreed toDec 10, 2025

An amendment numbered 2 printed in Part B of House Report 119-399 to modify section 105 to clarify that the subsection may not be construed to authorize expenditures for additional full-time equivalent employees.

Latest action: On agreeing to the Self amendment (A002) Agreed to by voice vote.

Congress.gov ↗

Checked against Congress.gov Oct 15, 2026.

Action timeline

Newest action first. Action language comes from the official Congress.gov record.

View full action timeline34 actions
  1. Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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

    FloorHouse floor actions
  3. Passed/agreed to in House: On passage Passed by recorded vote: 302 - 123 (Roll no. 328).

    FloorLibrary of Congress
  4. On passage Passed by recorded vote: 302 - 123 (Roll no. 328).

    FloorHouse floor actions
  5. The House adopted the amendments en gros as agreed to by the Committee of the Whole House on the state of the Union.

    FloorHouse floor actions
  6. The previous question was ordered pursuant to the rule.

    FloorHouse floor actions
  7. The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3383.

    FloorHouse floor actions
  8. The House resolved into Committee of the Whole House on the state of the Union for further consideration.

    FloorHouse floor actions
  9. Considered as unfinished business. (consideration: CR H5790-5793)

    FloorHouse floor actions
  10. Committee of the Whole House on the state of the Union rises leaving H.R. 3383 as unfinished business.

    FloorHouse floor actions
  11. On motion that the committee rise Agreed to by voice vote.

    FloorHouse floor actions
  12. Mrs. Wagner moved that the committee rise.

    FloorHouse floor actions
  13. 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.

    FloorHouse floor actions
  14. 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.

    FloorHouse floor actions
  15. 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.

    FloorHouse floor actions
  16. 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.

    FloorHouse floor actions
  17. 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.

    FloorHouse floor actions
  18. 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.

    FloorHouse floor actions
  19. 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.

    FloorHouse floor actions
  20. 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.

    FloorHouse floor actions
  21. GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 3383.

    FloorHouse floor actions
  22. The Speaker designated the Honorable James C. Moylan to act as Chairman of the Committee.

    FloorHouse floor actions
  23. House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 936 and Rule XVIII.

    FloorHouse floor actions
  24. 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.

    FloorHouse floor actions
  25. Considered under the provisions of rule H. Res. 936. (consideration: CR H5534-5555; text: CR H5540-5546)

    FloorHouse floor actions
  26. 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.

    FloorHouse floor actions
  27. Placed on the Union Calendar, Calendar No. 135.

    CalendarsHouse floor actions
  28. Reported (Amended) by the Committee on Financial Services. H. Rept. 119-169.

    CommitteeLibrary of Congress
  29. Reported (Amended) by the Committee on Financial Services. H. Rept. 119-169.

    CommitteeHouse floor actions
  30. Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 10.

    CommitteeHouse committee actions
  31. Committee Consideration and Mark-up Session Held

    CommitteeHouse committee actions
  32. Referred to the House Committee on Financial Services.

    IntroReferralHouse floor actions
  33. Introduced in House

    IntroReferralLibrary of Congress
  34. Introduced in House

    IntroReferralLibrary of Congress

Roll-call votes

Recorded House and Senate votes connected to this bill. Your representatives appear first when available.

FailedDec 11, 2025House · Roll call 326

On Agreeing to the Amendment

219 No211 Aye8 Not Voting
View 438 recorded positions
Byron DonaldsNot Voting
David ScottAye
Doug LaMalfaNo
Eric SwalwellNot Voting
Jerrold NadlerNot Voting
Laura GillenNot Voting
Marjorie Taylor GreeneNo
Sheila Cherfilus-McCormickAye
Tony GonzalesNo
FailedDec 11, 2025House · Roll call 327

On Agreeing to the Amendment

215 No214 Aye9 Not Voting
View 438 recorded positions
Byron DonaldsNot Voting
David ScottAye
Doug LaMalfaNo
Eric SwalwellNot Voting
Jerrold NadlerNot Voting
Laura GillenNot Voting
Marjorie Taylor GreeneNo
Sheila Cherfilus-McCormickAye
Tony GonzalesNo
FailedDec 11, 2025House · Roll call 325

On Agreeing to the Amendment

374 No54 Aye11 Not Voting
View 439 recorded positions
Byron DonaldsNot Voting
David ScottNo
Doug LaMalfaAye
Eric SwalwellNot Voting
Jerrold NadlerNot Voting
Laura GillenNot Voting
Marjorie Taylor GreeneAye
Ritchie TorresNot Voting
Sheila Cherfilus-McCormickNo
Tony GonzalesNo
PassedDec 11, 2025House · Roll call 328

On Passage

302 Aye123 No8 Not Voting
View 433 recorded positions
Byron DonaldsNot Voting
David ScottAye
Doug LaMalfaAye
Eric SwalwellNot Voting
Jerrold NadlerNot Voting
Laura GillenNot Voting
Marjorie Taylor GreeneAye
Sheila Cherfilus-McCormickNo
Tony GonzalesAye

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Sources: Congress.gov and official House and Senate vote records.

View data freshness details

Base metadata check pending · Civixly summary check pending · Action timeline checked Oct 15, 2026 · Complete sponsorship check pending · Topics checked Oct 15, 2026 · Committees checked Oct 15, 2026 · Status checked Oct 15, 2026 · Related bills checked Oct 15, 2026.