Right now, if you want to invest in certain private deals—like early-stage startups or hedge funds that aren't sold on the open stock market—you generally have to meet income or wealth thresholds set by the Securities and Exchange Commission (the federal agency that regulates stock markets and investments) to qualify as an "accredited investor." This bill would let people also qualify based on relevant professional experience or education, even if they don't meet those income or wealth requirements, with the SEC deciding what expertise counts. It also locks in, as official law, some existing rules about who already qualifies—such as licensed financial professionals, and people meeting certain income or net worth levels—and requires the SEC to update its regulations to match these changes.