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