| 1 | 1 | | II |
|---|
| 2 | 2 | | 118THCONGRESS |
|---|
| 3 | 3 | | 2 |
|---|
| 4 | 4 | | DSESSION S. 3709 |
|---|
| 5 | 5 | | To amend the Securities Act of 1933 to add additional investment thresholds |
|---|
| 6 | 6 | | for an individual to qualify as an accredited investor, and for other purposes. |
|---|
| 7 | 7 | | IN THE SENATE OF THE UNITED STATES |
|---|
| 8 | 8 | | JANUARY31, 2024 |
|---|
| 9 | 9 | | Mr. B |
|---|
| 10 | 10 | | UDD(for himself, Ms. SMITH, and Mr. BRAUN) introduced the following |
|---|
| 11 | 11 | | bill; which was read twice and referred to the Committee on Banking, |
|---|
| 12 | 12 | | Housing, and Urban Affairs |
|---|
| 13 | 13 | | A BILL |
|---|
| 14 | 14 | | To amend the Securities Act of 1933 to add additional |
|---|
| 15 | 15 | | investment thresholds for an individual to qualify as an |
|---|
| 16 | 16 | | accredited investor, and for other purposes. |
|---|
| 17 | 17 | | Be it enacted by the Senate and House of Representa-1 |
|---|
| 18 | 18 | | tives of the United States of America in Congress assembled, 2 |
|---|
| 19 | 19 | | SECTION 1. SHORT TITLE. 3 |
|---|
| 20 | 20 | | This Act may be cited as the ‘‘Investment Oppor-4 |
|---|
| 21 | 21 | | tunity Expansion Act’’. 5 |
|---|
| 22 | 22 | | SEC. 2. INVESTMENT THRESHOLDS TO QUALIFY AS AN AC-6 |
|---|
| 23 | 23 | | CREDITED INVESTOR. 7 |
|---|
| 24 | 24 | | Section 2(a)(15) of the Securities Act of 1933 (15 8 |
|---|
| 25 | 25 | | U.S.C. 77b(a)(15)) is amended— 9 |
|---|
| 26 | 26 | | VerDate Sep 11 2014 04:42 Feb 03, 2024 Jkt 049200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S3709.IS S3709 |
|---|
| 27 | 27 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
|---|
| 28 | 28 | | •S 3709 IS |
|---|
| 29 | 29 | | (1) in clause (i), by striking ‘‘or’’ at the end; 1 |
|---|
| 30 | 30 | | (2) in clause (ii), by striking the period at the 2 |
|---|
| 31 | 31 | | end and inserting ‘‘; or’’; and 3 |
|---|
| 32 | 32 | | (3) by adding at the end the following: 4 |
|---|
| 33 | 33 | | ‘‘(iii) with respect to a proposed trans-5 |
|---|
| 34 | 34 | | action, any individual whose aggregate invest-6 |
|---|
| 35 | 35 | | ment, at the completion of such transaction, in 7 |
|---|
| 36 | 36 | | securities with respect to which there has not 8 |
|---|
| 37 | 37 | | been a public offering is not more than 10 per-9 |
|---|
| 38 | 38 | | cent of the greater of— 10 |
|---|
| 39 | 39 | | ‘‘(I) the net assets of the individual; 11 |
|---|
| 40 | 40 | | or 12 |
|---|
| 41 | 41 | | ‘‘(II) the annual income of the indi-13 |
|---|
| 42 | 42 | | vidual.’’. 14 |
|---|
| 43 | 43 | | Æ |
|---|
| 44 | 44 | | VerDate Sep 11 2014 04:42 Feb 03, 2024 Jkt 049200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S3709.IS S3709 |
|---|
| 45 | 45 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
|---|