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      <constitutionalAuthorityStatementText>&lt;pre&gt;[Congressional Record Volume 169, Number 47 (Tuesday, March 14, 2023)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. HUIZENGA:H.R. 1579.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8 of the United States Constitution; TheCongress shall have the Power to lay and collect Taxes,Duties, Imposts and Excises, to pay the Debts and provide forthe common Defense and general Welfare of the United States.The single subject of this legislation is:To require the SEC to review the list of certifications,designations, and credentials for individuals to qualify asan accredited investor and add additional certifications,designations, and credentials to such list which the SECdetermines are substantially similar to the existing onceswithin 18 months and every five years therafter.[Page H1287]&lt;/pre&gt;</constitutionalAuthorityStatementText>
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        <fullName>Rep. Huizenga, Bill [R-MI-4]</fullName>
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        <fullName>Rep. Lawler, Michael [R-NY-17]</fullName>
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        <pubDate>2023-05-30T14:25:00Z</pubDate>
        <title>H.R. 1579, Accredited Investor Definition Review Act</title>
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          <text>&lt;p&gt;&lt;strong&gt;Accredited Investor Definition Review Act &lt;/strong&gt;&lt;/p&gt; &lt;p&gt;This bill revises 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. &lt;/p&gt; &lt;p&gt;Specifically, the bill allows the Securities and Exchange Commission (SEC) discretion in determining what certifications, designations, or credentials investors must possess for purposes of investor protection, provided that the credentials are at least as broad as the existing regulations. Additionally, the SEC must review these credentials every five years. &lt;/p&gt;</text>
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          <text>&lt;p&gt;&lt;strong&gt;Accredited Investor Definition Review Act &lt;/strong&gt;&lt;/p&gt; &lt;p&gt;This bill revises 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. &lt;/p&gt; &lt;p&gt;Specifically, the bill allows the Securities and Exchange Commission (SEC) discretion in determining what certifications, designations, or credentials investors must possess for purposes of investor protection, provided that the credentials are at least as broad as the existing regulations. Additionally, the SEC must review these credentials every five years. &lt;/p&gt;</text>
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