House Bill 1585
115th Congress(2017-2018)
Fair Investment Opportunities for Professional Experts Act
Active
Passed House on Nov 1, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1585
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
checkPassed on November 1, 2017
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8320-8321)
Summary
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.
November 2, 2017
November 1, 2017
October 31, 2017
March 16, 2017
11/02/2017
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
11/01/2017
Motion to reconsider laid on the table Agreed to without objection.
11/01/2017
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8320-8321)
11/01/2017
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8320-8321)
11/01/2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 1585.
11/01/2017
Considered under suspension of the rules. (consideration: CR H8320-8323)
11/01/2017
Mr. Huizenga moved to suspend the rules and pass the bill, as amended.
10/31/2017
Placed on the Union Calendar, Calendar No. 275.
10/31/2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-375.
10/12/2017
Ordered to be Reported (Amended) by the Yeas and Nays: 58 - 2.
10/12/2017
Committee Consideration and Mark-up Session Held.
10/11/2017
Committee Consideration and Mark-up Session Held.
03/16/2017
Referred to the House Committee on Financial Services.
03/16/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:35:36 PM