Amends the Investment Company Act of 1940 to exclude from its definition of "investment company" any collective trust fund maintained by a bank consisting solely of certain church pension plans, companies, or accounts specified in the Internal Revenue Code.
Amends the Securities Act of 1933 and the Securities Exchange Act of 1934 to exempt such church pension plans, companies, or accounts from regulation under such Acts, including registration requirements. (Thus exempts such church pension plans, companies, or accounts from Federal jurisdiction for securities fraud, manipulation, transparency, and disclosure requirements.)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 0 (Roll no. 462).(text as passed House: CR H7810)
Roll Call #462 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 0 (Roll no. 462). (text as passed House: CR H7810)
Roll Call #462 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S10278)
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S10278)
Measure laid before Senate by unanimous consent.
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Passed Senate with an amendment by Unanimous Consent.
Message on Senate action sent to the House.
Mr. LaTourette asked unanimous consent that the House agree to the Senate amendment. (consideration: CR H9024; text as House agreed to Senate amendment: CR H9024)
Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to without objection.
On motion that the House agree to the Senate amendment Agreed to without objection.
Motion to reconsider laid on the table Agreed to without objection.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 108-359.
Became Public Law No: 108-359.
Enacted as Public Law 108-359
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line