Investment Opportunity Expansion Act

Bill: 118-hr-2652
Sponsor: full_name: Rep. Mooney, Alexander X. [R-WV-2]
Introduced: 2023-04-17
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-04-17
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-04-17
action_desc: Introduced in House
text: <p><b>Investment Opportunity Expansion Act </b></p> <p>This bill expands who may be considered an accredited investor for purposes of participating in private offerings of securities. (Certain unregistered securities may only be offered to accredited investors.) Specifically, the bill allows an individual to qualify if their aggregate investment in such a securities offering is not more than 10% of the individual's net assets or 10% of the individual's annual income, whichever is greater.</p>

tv_txt: I 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.

1. Short title This Act may be cited as the Investment Opportunity Expansion Act . 2. 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. .