H.R. 4565 · 116th Congress
Responsible Accounting Standards Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
LuetkemeyerSponsorNo cosponsors.
This bill requires a standard setting body to meet certain requirements when establishing generally accepted accounting principles for purposes of securities laws. Specifically, the standard setting body must follow certain administrative procedures when adopting accounting principles.
What it does: CRS summary · Introduced in House · Sep 27, 2019
Responsible Accounting Standards Act of 2019
This bill requires a standard setting body to meet certain requirements when establishing generally accepted accounting principles for purposes of securities laws. Specifically, the standard setting body must follow certain administrative procedures when adopting accounting principles.
The Securities and Exchange Commission may recognize an accounting principle if the standard setting body considers the impact the accounting principle will have on the U.S. economy, market stability, and the availability of credit.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Responsible Accounting Standards Act of 2019
Latest action (Sep 27, 2019): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 27, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.