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119th Congress Finance and Financial Sector

H.R. 3394: Fair Investment Opportunities for Professional Experts Act

Passed HouseJun 23, 2025

  1. Introduced (completed)May 14, 2025
  2. Passed House (completed)Jun 23, 2025, 397–12
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, May 14, 2025

This bill expands the eligibility criteria for an accredited investor for purposes of participating in private offerings of securities to include an individual determined by the Securities and Exchange Commission (SEC) to have qualifying professional knowledge through educational or professional experience. (Certain unregistered securities may only be offered to accredited investors.)

The bill also provides statutory authority for certain existing criteria for an accredited investor, including licensure or registration in good standing as a broker or investment adviser, specified annual salary, and specified net worth.

Further, 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.

Written by the Congressional Research Service, Library of Congress.

Key votes

House final vote, Jun 23, 2025

On Motion to Suspend the Rules and Pass, as Amended

Passed 397–12

Yea 397two-thirds 273Nay 12

  • Democrats186 yea, 12 nay
  • Republicans210 yea, 0 nay
  • Independents1 yea, 0 nay

Broke with their party: Rashida Tlaib (D-MI), Delia Ramirez (D-IL), Ayanna Pressley (D-MA), Ilhan Omar (D-MN), Alexandria Ocasio-Cortez (D-NY), James McGovern (D-MA), Summer Lee (D-PA), Pramila Jayapal (D-WA), Jesús García (D-IL) and Maxwell Frost (D-FL) voted Nay; and 2 more

See how all 409 members voted

Showing 432 of 432 members

Yea 397

Republicans (210)

Democrats (186)

Independents (1)

Nay 12

Not voting 23

Senate

Not yet voted

Passed the House Jun 23, 2025. Awaiting Senate action.

Roll calls

1 vote on this bill

Showing 1 of 1 roll calls

  • Jun 23, 2025HouseOn Motion to Suspend the Rules and Pass, as AmendedFinal passagePassed, yea-nay 397–12
    Roll call 173 tally by party
    PartyYeaNayPresentNot voting
    Democrats18612014
    Republicans210009
    Independents1000
    Total39712023

    House roll call 173: On Motion to Suspend the Rules and Pass, as Amended. Passed.

    12 crossed party lines: 12 Democrats

    How each member voted (432)

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

3

Bipartisan support.

Who scored on this bill

152 points earned
  1. 1J. Hill R-AR SponsorDrew cross-party cosponsors, introduced, marked up, reported, passed House5 events+68
  2. 2Gregorio Casar D-TX1 maverick vote1 event+6
  3. 2Maxine Dexter D-OR1 maverick vote1 event+6
  4. 2Maxwell Frost D-FL1 maverick vote1 event+6
  5. 2Jesús García D-IL1 maverick vote1 event+6
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by J. Hill

History

  1. Jun 23, 2025Passed the House, 397–12.
  2. May 14, 2025Introduced in the House by J. Hill.
Show the full action history (15 actions)
  1. Jun 24, 2025Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jun 23, 2025Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
  3. Jun 23, 2025Considered under suspension of the rules. (consideration: CR H2869-2871)
  4. Jun 23, 2025DEBATE - The House proceeded with forty minutes of debate on H.R. 3394.
  5. Jun 23, 2025At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  6. Jun 23, 2025Considered as unfinished business. (consideration: CR H2878-2879)
  7. Jun 23, 2025Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 12 (Roll no. 173). (text: CR H2869-2870)
  8. Jun 23, 2025On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 12 (Roll no. 173). (text: CR H2869-2870)
  9. Jun 23, 2025Motion to reconsider laid on the table Agreed to without objection.
  10. Jun 3, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-115.
  11. Jun 3, 2025Placed on the Union Calendar, Calendar No. 85.
  12. May 20, 2025Committee Consideration and Mark-up Session Held
  13. May 20, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 45 - 1.
  14. May 14, 2025Introduced in House
  15. May 14, 2025Referred to the House Committee on Financial Services.