H.R. 4537 · 115th Congress
International Insurance Standards Act of 2017
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 115th Congress ended.
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DuffySponsor12 cosponsors · 3 D, 9 R
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Budd
MC
D
Capuano
DH
D
Heck
DR
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Ross
KR
R
Rothfus
BS
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Sherman
CT
R
Tenney
ML
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Love
RW
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Williams
LZ
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Zeldin
LM
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Messer
DY
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Young7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Dec 4, 2017
- House Passed Jul 10, 2018
What it does: CRS summary · Passed House amended · Jul 10, 2018
International Insurance Standards Act of 2018
(Sec. 3) This bill prohibits parties representing the federal government in an international insurance agreement from agreeing to any standard unless it recognizes the existing U.S. system of regulation as satisfying that standard.
(Sec. 4) In developing international insurance standards, the parties must coordinate with state insurance regulators.
(Sec. 5) Parties representing the United States in such proceedings must consult with and notify Congress regarding the intention to participate in the negotiations, the nature and objectives of the negotiations, and the details of the agreement.
(Sec. 6) Before entering into any agreement, the parties must report to Congress regarding the implementation and impact of the agreement.
(Sec. 7) The bill amends the Federal Insurance Office Act of 2010 to modify requirements for an international agreement entered into by the Department of the Treasury's Federal Insurance Office. Such an agreement must only apply on a prospective basis. In developing an agreement, the parties must coordinate with state insurance regulators. Congress has the power to review and disapprove by joint resolution any agreement.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: International Insurance Standards Act of 2018
Latest action (Jul 11, 2018): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Dec 4, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Dec 4, 2017
- House Passed Jul 10, 2018
No recorded floor vote found.