; (B) the aggregate amount sold to any investor by an issuer, including any amount sold in reliance on the exemption provided under this paragraph during the 12-month period preceding the date of such transaction, does not exceed $5,000; and (C) the transaction is conducted through a broker or funding portal registered with the Commission. . (b) Authority To prohibit bad actors In issuing rules to carry out section 4(a)(8) of the Securities Act of 1933, as added by subsection (a), the Securities and Exchange Commission may prohibit a person from engaging in a transaction described under such section 4(a)(8) if such person is subject to an event that would disqualify an issuer or other covered person under Rule 506(d)(1) of Regulation D (17 CFR 230.506(d)(1)) or is subject to a statutory disqualification described under section 3(a)(39) of the Securities Exchange Act of 1934. (c) Termination Effective on the date that is 3 years after the date of the enactment of this Act, paragraph (8) of section 4(a) of the Securities Act of 1933 ( 15 U.S.C. 77d(a) ), as added by subsection (a), is repealed. (d) Study Not later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall submit to Congress a study on the impact of paragraph (8) of section 4(a) of the Securities Act of 1933 ( 15 U.S.C. 77d(a) ), as added by subsection (a).