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Senate Bill 3709
118th Congress(2023-2024)
Investment Opportunity Expansion Act
Introduced
Introduced
Introduced in Senate on Jan 31, 2024
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Text
Introduced in Senate 
Jan 31, 2024
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Introduced in Senate(Jan 31, 2024)
Jan 31, 2024
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 3709 (Introduced-in-Senate)


118th CONGRESS
2d Session
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

January 31, 2024

Mr. Budd (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 Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

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

SEC. 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) in clause (i), by striking “or” at the end;

(2) in clause (ii), by striking the period at the end and inserting “; or”; and

(3) by adding at the end the following:

    “(iii) 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.”.