The bill funds targeted education and federal-state coordination to help underrepresented, rural, and disaster-affected small businesses understand capital-raising options and reduce investor fraud risk, but it is primarily informational, may not materially expand actual access to capital, and carries modest costs and administrative burdens.
Underrepresented small-business owners (including women- and minority-owned firms), rural businesses, and those hit by natural disasters gain targeted education and events that increase awareness of capital-raising options and funding pathways.
Small-business investors and firms benefit from improved investor education, which can reduce fraud risk by helping participants better understand risks and capital-raising mechanisms.
State and federal securities authorities will coordinate at least annually, which could streamline assistance, improve investor protections, and make federal technical help more consistent for small businesses.
Small-business owners may see little practical increase in access to capital because the requirement is largely informational and does not create new funding or change financing rules.
Taxpayers and agency budgets could incur additional costs to develop and run education programs and to convene annual federal-state meetings.
State securities commissions may face extra administrative burdens to participate in required coordination and meetings.
Based on analysis of 2 sections of legislative text.
Requires a securities office to provide education/outreach on capital options for underrepresented, rural, and disaster-affected small businesses and meet annually with state securities regulators.
Adds two required outreach and coordination duties to an existing securities office: provide educational resources and events to raise awareness of capital-raising options for underrepresented, rural, and disaster-affected small businesses, and meet at least once a year with state securities regulators to coordinate assistance for small businesses and small business investors. One short section also establishes a short title for the Act.
Introduced May 15, 2025 by Maxine Waters · Last progress June 24, 2025