The main purpose of this legislation is to increase the asset limit for small bank holding companies. Specifically, it aims to raise the threshold for what qualifies as a small bank holding company under federal regulations. This change is intended to provide relief to smaller banks and savings and loan companies by allowing them to operate with fewer regulatory burdens. Key provisions of the legislation include a requirement for the Federal Reserve to revise existing regulations within 180 days of the law's enactment. The new asset threshold will be set at $25 billion.