PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 53 · Passed House · May 31, 2023
Equal Opportunity for All Investors Act of 2023
This bill expands who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors.
Specifically, the bill allows an individual to qualify through an examination established by the Securities and Exchange Commission. The examination must
be designed with an appropriate difficulty level such that an individual with financial sophistication or training would be unlikely to fail,
include methods to determine competency in certain areas, and
be administered by a registered national securities association and offered free of charge to the public.
Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience.
People & committees
Rep. Flood, Mike [R-NE-1] · R–NE
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)
House roll call 244 · Individual votesPassed/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): 383 - 18 (Roll no. 244). (text: 05/30/2023 CR H2656)
House roll call 244 · Individual votesConsidered as unfinished business. (consideration: CR H2706)
At 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.
DEBATE - The House proceeded with forty minutes of debate on H.R. 2797.
Considered under suspension of the rules. (consideration: CR H2656-2658)
Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 56.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-77.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 1.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: May 27, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
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Analyze H.R.2797 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.2797 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.2797 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.2797 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.