Introduced in House

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 145 Introduced in House (IH)] 119th CONGRESS 1st Session H. R. 145 To amend the Securities Act of 1933 to permit an individual to invest in private issuers upon acknowledging the investment risks, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 3, 2025 Mr. Davidson introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Securities Act of 1933 to permit an individual to invest in private issuers upon acknowledging the investment risks, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

SECTION 1. SHORT TITLE. This Act may be cited as the ``Risk Disclosure and Investor Attestation Act''.

SEC. 2. INVESTOR ATTESTATION.

SEC. 2. INVESTOR ATTESTATION. (a) In General.--Section 2(a)(15) of the Securities Act of 1933 (77b(a)(15)) is amended-- (1) by redesignating clause (i) as subparagraph (A); (2) in subparagraph (A), as so redesignated, by striking ``or'' at the end; (3) by redesignating clause (ii) as subparagraph (B); (4) in subparagraph (B), as so redesignated, by striking the period at the end and inserting ``; and''; and (5) by adding at the end the following: ``(C) with respect to an issuer, any individual that has attested to the issuer that the individual understands the risks of investment in private issuers, using such form as the Commission shall establish, by rule, but which form may not be longer than 2 pages in length.''. (b) Rulemaking.--Not later than the end of the 1-year period beginning on the date of enactment of this Act, the Securities and Exchange Commission shall issue rules to carry out the amendments made by subsection (a), including establishing the form required under such amendments.