US Congress · 119th Congress (2025-2026)

HR 3383In Second Chamber

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

Source of recordUS Congress · congress.govLast synced Jul 14, 2026

Chamber

House

Progress

Where this bill stands in the legislative process.

Introduced
Passed House
Passed Senate
To President
Became Law

Overview

This bill, the Increasing Investor Opportunities Act, modifies the Investment Company Act of 1940 to allow closed-end companies and closed-end companies treated as business development companies to invest in private funds without significant restrictions from the Securities and Exchange Commission. It also clarifies the definition of ‘private fund’ and addresses how national securities exchanges can list and trade securities of these closed-end companies. The bill aims to increase investment opportunities by removing barriers to investment in private funds.

Key provisions

Allows closed-end companies to invest in securities issued by private funds without SEC prohibition.
Defines ‘private fund’ using the definition from the Investment Advisers Act of 1940.
Modifies the Securities Exchange Act of 1934 to permit exchanges to list securities of closed-end companies investing in private funds.
Addresses investment limitations within the Investment Company Act of 1940.
Clarifies the treatment of closed-end companies that elect to be treated as business development companies.
Establishes rules regarding valuation, liquidity, and redemption requirements for closed-end companies.

Who is affected

Closed-end companies
Closed-end companies treated as business development companies
Investors
Securities Exchanges
Private Funds

Notable changes

Bill text

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May 14, 2025XMLView source

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Legislative history

34 recorded actions · showing the most recent 12

Dec 10, 2025House

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, 2025House

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 10, 2025House

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

Dec 11, 2025House

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

Dec 11, 2025House

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

Dec 11, 2025

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

Dec 11, 2025House

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, 2025House

The previous question was ordered pursuant to the rule.

Dec 11, 2025House

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

Dec 11, 2025House

The House resolved into Committee of the Whole House on the state of the Union for further consideration.

Dec 11, 2025House

Considered as unfinished business. (consideration: CR H5790-5793)

Dec 15, 2025Senate

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

Votes

Recorded roll calls and chamber actions on this bill.

Passage without roll call

The official record shows passage by unanimous consent or voice vote where no roll call was taken. No member-level tally is available for these steps, and the district map does not apply.

12/10/2025HouseVoice vote
On motion that the committee rise Agreed to by voice vote.
No roll-call vote on record for this action.

Vote map

US House by district

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Nay

Yea

Floor votes and chamber actions

Recorded roll calls list how each member voted. Unanimous consent or voice vote appears in the official action history without a roll call; no member-level tally is available for those steps.

Passage without roll call

Dec 10, 2025HouseVoice vote
On motion that the committee rise Agreed to by voice vote.
No roll-call vote on record for this action.

Recorded roll calls

Geography

Recorded positions across the country.

No public positions recorded for this legislation.

Arguments

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

Progress