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      <constitutionalAuthorityStatementText>&lt;pre&gt;[Congressional Record Volume 169, Number 66 (Thursday, April 20, 2023)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mrs. WAGNER:H.R. 2792.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the U.S. ConstitutionThe single subject of this legislation is:This bill requires the Securities and Exchange Commissionto carry out a study and rulemaking on the definition of theterm ``small entity'' for purposes of the securities laws.[Page H1912]&lt;/pre&gt;</constitutionalAuthorityStatementText>
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        <text>On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 367 - 8 (Roll no. 238). (text: CR H2652)</text>
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        <text>Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 367 - 8 (Roll no. 238). (text: CR H2652)</text>
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        <text>At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.</text>
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        <text>DEBATE - The House proceeded with forty minutes of debate on H.R. 2792.</text>
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        <text>Placed on the Union Calendar, Calendar No. 59.</text>
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        <text>Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 0.</text>
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        <fullName>Rep. Wagner, Ann [R-MO-2]</fullName>
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        <fullName>Rep. Casten, Sean [D-IL-6]</fullName>
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        <title>H.R. 2792, Small Entity Update Act</title>
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          <text>&lt;p&gt;&lt;b&gt;Small Entity Update Act &lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill requires the Securities and Exchange Commission (SEC) to report on and revise the definition of &lt;i&gt;small entity&lt;/i&gt; every five years. Agencies are required to consider the impact of their rules on small entities under the Regulatory Flexibility Act. &lt;/p&gt; &lt;p&gt;Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of &lt;i&gt;small entity&lt;/i&gt; to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered. &lt;/p&gt; &lt;p&gt;The SEC must also issue a proposed rule to implement these recommendations. &lt;/p&gt;</text>
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        <cdata>
          <text>&lt;p&gt;&lt;b&gt;Small Entity Update Act &lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill requires the Securities and Exchange Commission (SEC) to report on and revise the definition of &lt;i&gt;small entity&lt;/i&gt;. Agencies are required to consider the impact of their rules on small entities under the Regulatory Flexibility Act. &lt;/p&gt; &lt;p&gt;Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of &lt;i&gt;small entity&lt;/i&gt; to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered. In addition, the SEC must adjust the appropriate dollar amounts for inflation every five years.&lt;/p&gt; &lt;p&gt;The SEC must also revise the applicable rules to implement these recommendations. &lt;/p&gt;</text>
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