# 119-hr-3352: HALOS Act of 2025

119-hr-3352, HALOS Act of 2025, is a 119th Congress bill sponsored by Rep. Lawler, Michael [R-NY-17] (R-NY); status passed_house; PRIA reads it as touching household money (as of 2026-07-15).

- Canonical: https://policyrisk.com/legislation/119-hr-3352
- As of: 2026-07-15
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-3352
- Congress: 119
- Title: HALOS Act of 2025
- Status: passed_house
- Introduced: 2025-05-13
- Sponsor: Rep. Lawler, Michael [R-NY-17] (R-NY)
- Cosponsors: 2
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-07-15

## Summary

**Create an exception to the SEC's general solicitation ban for issuer presentations at qualified investor events.** It would let early-stage companies speak to accredited angel groups under strict sponsor and disclosure rules. - Startups and issuers: Would be able to present at qualifying events without triggering the general-solicitation prohibition if they limit what they say to that they are offering securities, the type and amount being offered, how much is already subscribed, and the intended use of proceeds. - Angel investor groups and attendees: Accredited investor groups that meet the bill's definition get broader access to pitches. Attendance alone would not establish a pre-existing substantive relationship under Rule 506(b). - Event sponsors and organizers: Sponsors allowed include colleges, nonprofits, incubators, venture forums, state or tribal entities, and similar groups. Sponsors may not give investment advice, negotiate deals, charge more than reasonable administrative fees, or accept compensation that would require broker or adviser registration. - SEC and rulemaking: The bill would require the Securities and Exchange Commission to amend Regulation D's general-solicitation rule for these presentations within six months after enactment.

## Cosponsors (2)

- Rep. Gottheimer, Josh [D-NJ-5] (D-NJ), 2025-05-13T00:00:00.000Z
- Rep. Salazar, Maria Elvira [R-FL-27] (R-FL), 2025-05-20T00:00:00.000Z

## Provisions PRIA read

- Easier startup pitches at investor events: mixed, medium. The SEC would have 6 months to change Regulation D. At certain sponsor-run events, issuers could speak without it counting as general solicitation. Allowed sponsors include governments, colleges, nonprofits, angel groups, incubators, and some trade groups. Events could not be in religious-owned fac…
- Event attendance not a prior relationship: mixed, medium. The bill would limit the SEC’s change to what can be said at events, not how securities are bought or sold. Also, just going to a qualifying event would not, by itself, create a pre‑existing relationship for Rule 506(b). Issuers would still need a real prior relationship if they rely on 506(b).
- Who qualifies as issuers and angel groups: mixed, low. The bill would define who can use these events. An angel investor group would be accredited investors who invest their own money, meet regularly, and are not tied to brokers, dealers, or advisers. An issuer would have to be a business that is not in bankruptcy or receivership, not an investment com…

## Related bills

- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-9237: Take Care of America’s Veterans Act
- 119-hr-4393: DIGNIDAD (Dignity) Act of 2025
- 119-hr-1229: United States-Israel Defense Partnership Act of 2025
- 119-hr-6809: Alyssa’s Act of 2025

## Sources
- [119-hr-3352 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/3352)

## Related
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-9237: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-hr-9237)
- [119-hr-4393: DIGNIDAD (Dignity) Act of 2025](https://policyrisk.com/legislation/119-hr-4393)
- [119-hr-1229: United States-Israel Defense Partnership Act of 2025](https://policyrisk.com/legislation/119-hr-1229)
- [119-hr-6809: Alyssa’s Act of 2025](https://policyrisk.com/legislation/119-hr-6809)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-3352 (as of 2026-07-15).