Congress·Passed House·H.R. 3394

Fair Investment Opportunities for Professional Experts Act

Private Investing: New Rules for Professional Experts

Jun 24, 2025·View on Congress.gov·Read full text

This bill is one vehicle in a longer effort. See the full story across every version.View effort →

StalledNext up: The SenateNo action in 12 months

The House passed this bill in June 2025, and it is now waiting for the Senate Committee on Banking, Housing, and Urban Affairs to take action. The bill has been stalled with no recorded progress for about 12 months. It is unlikely to move forward because the Senate has not scheduled any hearings or votes for it since June 2025.

Legislative Progress

✓ House

Senate

No action since June 2025

President

Law

How we got here

This bill’s path across every version that has carried it.

Reintroduced
Reintroduced from H.R. 835 (118th), which died when its Congress ended.
H.R. 835 (118th) →

Key Points

Congress is changing the rules about who can put money into private companies and hedge funds. Currently, these investments are mostly restricted to people who are already very wealthy, known as accredited investors.
The bill allows people to qualify based on their professional knowledge, not just their bank account. This includes licensed stockbrokers and investment advisers who are in good standing with regulators.
It also opens the door for people with specific education or job experience to invest in their areas of expertise. For example, a professional with deep experience in a specific industry could be allowed to invest in startups in that field.
For those who qualify by wealth, the bill keeps the limit at $1 million in net worth (excluding their home) or a $200,000 annual income. A new rule will raise these limits every five years to keep up with the rising cost of living.
The Securities and Exchange Commission must update its official rules within 180 days of this bill becoming law. This change aims to give more people a chance to grow their savings through private deals that were previously off-limits.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

4 milestones15 actions

Jun 24, 2025Senate

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.

Jun 23, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Jun 23, 2025House

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)

The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.

Jun 23, 2025

Passed/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)

The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.

Jun 23, 2025House

Considered as unfinished business. (consideration: CR H2878-2879)