H.R. 2652 – Reading Mode

118th CONGRESS

1st Session

H. R. 2652

IN THE HOUSE OF REPRESENTATIVES

April 17, 2023

Mr. Mooney introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Securities Act of 1933 to add additional investment thresholds for an individual to qualify as an accredited investor, and for other purposes.

Short title

This Act may be cited as the Investment Opportunity Expansion Act.

Investment thresholds to qualify as an accredited investor

Section 2(a)(15) of the Securities Act of 1933 (15 U.S.C. 77b(a)(15)) is amended—

(1)

by redesignating subparagraphs (i) and (ii) as subparagraphs (A) and (B), respectively;

(2)

in subparagraph (A), as so redesignated, by striking adviser; or and inserting adviser;;

(3)

in subparagraph (B), as so redesignated, by striking the period at the end and inserting ; or; and

(4)

by adding at the end the following:

(C)

with respect to a proposed transaction, any individual whose aggregate investment, at the completion of such transaction, in securities with respect to which there has not been a public offering is not more than 10 percent of the greater of—

(i)

the net assets of the individual; or

(ii)

the annual income of the individual.