US Congress House Bill 4762 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on October 18 2019 - 25% progression, died in committee
Action: 2019-10-18 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Modifies the definition of "accredited investor" for purposes of participating in private offerings of securities to include an individual whose net worth or joint net worth with their spouse exceeds $1 million (adjusted for inflation), excluding from the calculation of their net worth their primary residence and a mortgage secured by that residence in certain circumstances; an individual whose income over the last two years exceeded $200,000 (adjusted for inflation) or joint spousal income exceeded $300,000 (adjusted for inflation) and who has a reasonable expectation of reaching the same income level in the current year; an individual who is licensed as a broker or investment advisor by certain entities; and an individual determined by the Securities and Exchange Commission (SEC) to have qualifying education or experience. (Certain unregistered securities may only be offered to accredited investors.) The SEC is directed to revise the definition of "accredited investor" in Regulation D (which exempts certain offerings from SEC registration requirements) to conform to changes in this bill.

Fair Investment Opportunities for Professional Experts Act

Rep. French Hill [R-AR]	Rep. David Schweikert [R-AZ]	Rep. Bryan Steil [R-WI]	Rep. Warren Davidson [R-OH]
Rep. Anthony Gonzalez [R-OH]	Rep. Tom Emmer [R-MN]

Date	Chamber	Action
2019-10-18	House	Referred to the House Committee on Financial Services.
2019-10-18	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/4762/all-info
Text	https://www.congress.gov/116/bills/hr4762/BILLS-116hr4762ih.pdf