HR-1585 : Still Just a Bill

This bill amends the Securities Act of 1933 to modify the definition of "accredited investor" for purposes of participating in private offerings to include:

  • an individual whose net worth, or joint net worth with their spouse, exceeds $1 million, excluding their primary residence;
  • an individual whose income over the last two years exceeded $200,000, or joint spousal income exceeded $300,000;
  • an individual who holds a state-issued financial services license; and
  • an individual determined by the Securities and Exchange Commission to have qualifying education or experience.

Action Timeline

Action DateTypeTextSource
2017-11-02IntroReferralReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Senate
2017-11-01FloorMotion to reconsider laid on the table Agreed to without objection.House floor actions
2017-11-01FloorOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8320-8321)House floor actions
2017-11-01FloorDEBATE - The House proceeded with forty minutes of debate on H.R. 1585.House floor actions
2017-11-01FloorConsidered under suspension of the rules. (consideration: CR H8320-8323)House floor actions
2017-11-01FloorMr. Huizenga moved to suspend the rules and pass the bill, as amended.House floor actions
2017-10-31CalendarsPlaced on the Union Calendar, Calendar No. 275.House floor actions
2017-10-31CommitteeReported (Amended) by the Committee on Financial Services. H. Rept. 115-375.House floor actions
2017-10-12CommitteeOrdered to be Reported (Amended) by the Yeas and Nays: 58 - 2.House committee actions
2017-10-12CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2017-10-11CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2017-03-16IntroReferralReferred to the House Committee on Financial Services.House floor actions
2017-03-16IntroReferralIntroduced in HouseLibrary of Congress