US HB3383

Amends the Investment Company Act of 1940 to allow closed-end investment companies to invest their assets in securities issued by private funds without SEC restrictions on such activities or exchange listings

Expands capital access for small businesses by adding rural-area businesses to SEC advocacy priorities, raising crowdfunding investment limits from $100,000 to $250,000, and increasing the private fund adviser exemption threshold from $150 million to $175 million with inflation adjustments every 5 years

Broadens accredited investor eligibility to include licensed brokers/investment advisers, individuals with $1 million net worth (excluding primary residence), those earning $200,000+ annually, and persons who pass a new SEC-established financial literacy examination

Creates a Senior Investor Taskforce within the SEC to address challenges facing investors over age 65, including financial exploitation and cognitive decline, with biennial reporting requirements to Congress

Strengthens public markets by extending emerging growth company accommodations to all issuers for testing-the-waters communications and confidential draft registration submissions, while requiring enhanced disclosures for companies with multi-class share structures