Changes the legal definition of “accredited investor” to set clear, specific qualification tests — a $1,000,000 net-worth threshold (with rules for counting primary residence and mortgage debt), income tests ($200,000 individual / $300,000 joint), recognition of certain licensed brokers and advisers, and additional paths approved by the SEC and verified by self‑regulatory organizations. The Securities and Exchange Commission must amend Regulation D to reflect these changes within 180 days of enactment.