# 119-hr-3394: Fair Investment Opportunities for Professional Experts Act

119-hr-3394, Fair Investment Opportunities for Professional Experts Act, is a 119th Congress bill sponsored by Rep. Hill, J. French [R-AR-2] (R-AR); status passed_house; PRIA reads it as touching household money (as of 2026-07-15).

- Canonical: https://policyrisk.com/legislation/119-hr-3394
- 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-3394
- Congress: 119
- Title: Fair Investment Opportunities for Professional Experts Act
- Status: passed_house
- Introduced: 2025-05-14
- Sponsor: Rep. Hill, J. French [R-AR-2] (R-AR)
- Cosponsors: 3
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-07-15

## Summary

**Expands who counts as an accredited investor.** The Fair Investment Opportunities for Professional Experts Act adds clear net‑worth and income tests and creates professional pathways so more people can access private securities markets. - Individuals with high net worth: Natural persons or joint spouses with net worth over $1,000,000 can qualify for accredited status. The law excludes a primary residence from assets and sets specific mortgage rules. - High earners: People with individual income above $200,000 or joint income above $300,000 who meet those levels recently and expect the same this year may qualify under the income test. - Licensed and professionally qualified people: Current brokers or registered investment advisers in good standing qualify, and the Securities and Exchange Commission must revise Regulation D to conform within 180 days.

## Cosponsors (3)

- Rep. Vargas, Juan [D-CA-52] (D-CA), 2025-05-14T00:00:00.000Z
- Rep. Davidson, Warren [R-OH-8] (R-OH), 2025-05-19T00:00:00.000Z
- Rep. Sessions, Pete [R-TX-17] (R-TX), 2025-05-19T00:00:00.000Z

## Votes

| Date | Chamber | Question | Result | Yea | Nay |
| --- | --- | --- | --- | --- | --- |
| 2025-06-23T00:00:00.000Z | house | On Motion to Suspend the Rules and Pass, as Amended | Passed | 397 | 12 |

## Provisions PRIA read

- More paths to accredited investor status: benefit, high. This bill would add more ways to count as an accredited investor. You could qualify by income: over $200,000 alone or $300,000 with a spouse or spousal equivalent in each of the last two years, and you reasonably expect the same this year. You could also qualify by net worth over $1,000,000 at the…
- SEC deadline to update investor rules: mixed, low. If enacted, the SEC would have 180 days to revise Regulation D to match the new accredited‑investor definition. This would set how issuers and platforms apply the updated rules for private offerings.

## Related bills

- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-9237: Take Care of America’s Veterans Act
- 119-hr-6955: Main Street Capital Access Act
- 119-hr-3633: Digital Asset Market Clarity Act
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-9298: Stopping Harmful and Outrageous Torts Act

## Sources
- [119-hr-3394 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/3394)

## Related
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-9237: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-hr-9237)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [119-hr-3633: Digital Asset Market Clarity Act](https://policyrisk.com/legislation/119-hr-3633)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-9298: Stopping Harmful and Outrageous Torts Act](https://policyrisk.com/legislation/119-hr-9298)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-3394 (as of 2026-07-15).