,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #chig  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,janu>y #af1 #bjad,mr4
 ,c>twright 7= himself1 ,mr4 ,grijalva1 
,mr4 ,higg9s1 ,mr4 ,honda1 ,mr4 ,lewis1 
,ms4 ,lee ( ,cali=nia1 & ,ms4 ,s*ak[sky7
 introduc$ ! foll[+ bill2 :i* 0 ref]r$  
to ! ,committee on ,ways & ,means  ,a   
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to /r5g!n ! rules =       
approv$ /ructur$ settlem5t factor+      
transactions4  #a4 ,modification (      
qualifi$ ord] requirem5ts = approv$     
transactions  7a7 ,9 g5]al ,subp>agraph 
7,a7 ( section #ehia7;b77#b7 ( !        
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ & at ! end ( clause 7i7 & by   
add+ at ! end ! foll[+ new clause3      
7iii7 satisfies ! requirem5ts ( p>agraph
 7#e71 &  4  7b7 ,transaction           
requirem5ts ,subsection 7b7 ( section   
#ehia ( su* ,code is am5d$ by r$esignat+
 p>agraph 7#e7 z p>agraph 7#f7 & by     
ins]t+ aft] p>agraph 7#d7 ! foll[+ new  
p>agraph3  7#e7 ,transaction requirem5ts

  7,a7 ,9 g5]al ,a transf] ( /ructur$   
settlem5t paym5t rights %all be treat$ z
 satisfy+ ! requirem5ts ( ?is p>agraph  
only if ! transf] meets ! foll[+        
requirem5ts3 7i7 ,! annual disc\nt rate 
( ! consid]ation = ! transf]1 det]m9$ by
 tak+ into acc\nt *>ges1 fees1 & o!r    
exp5ses1 does n exce$ ! prime rate plus 
#e p]c5tage po9ts4  7ii7 ,! aggregate   
am\nt ( *>ges1 fees1 & o!r exp5ses      
payable by ! payee d n exce$ #b p]c5t ( 
! value ( ! consid]ation to ! payee 7net
 ( su* *>ges1 fees1 & o!r exp5ses74     
7iii7 ,! payee is n liable = any p5alty1
 & w n =feit any am\nts already paid or 
incurr$1 if ! transf] does n satisfy !  
requirem5ts ( ?is p>agraph4  7iv7 ,!    
transf]ee has giv5 writt5 notice ( !    
transf]ee's "n1 address1 & taxpay]      
id5tification numb] to ! annuity issu] &
 ! /ructur$ settlem5t obligor & has fil$
 a copy ( su* notice ) ! ,/ate c\rt or  
responsible adm9i/rative au?ority issu+ 
! qualifi$ ord]4  7v7 ,! transf] is fair
 & reasonable4  7vi7 ,n lat] ?an #e     

days1 & n e>li] ?an #ae days1 be=e !    
date on :i* ! payee fir/ incurs any     
obligations ) respect to ! transf]1 !   
transf]ee provides to ! payee a         
disclosure /atem5t :i* sets =? 9 a cle> 
& conspicu\s mann] ! foll[+3 7,i7 ,!    
rema9+ am\nts payable & paym5t dates "u 
! /ructur$ settlem5t4  7,,ii7 ,!        
aggregate ( su* am\nts4  7,,iii7 ,!     
disc\nt$ pres5t value ( ! /ructur$      
settlem5t paym5t rights det]m9$ by us+ a
 disc\nt rate equal to ! applicable     
,f$]al rate1 comp\nd$ annually4  7,,iv7 
,a /atem5t ( ! total consid]ation made 9
 ex*ange = ! /ructur$ settlem5t paym5t  
rights4  7,v7 ,an itemiz$ li/ ( all     
*>ges1 fees1 & o!r exp5ses payable by ! 
payee1 or d$uctible f ! gross am\nt     
o!rwise payable to ! payee1 ) respect to
 ! transf]4  7,,vi7 ,! value (          
consid]ation to ! payee net ( ! *>ges1  
fees1 & o!r exp5ses describ$ 9 subclause
 7,v74  7,,vii7 ,! quoti5t 7express$ z a
 p]c5tage7 ( ! am\nt ( net consid]ation 
describ$ 9 subclause 7,,vi7 divid$ by ! 

disc\nt$ pres5t value ( ! /ructur$      
settlem5t paym5t rights det]m9$ "u      
subclause 7,,iii74  7,,viii7 ,! annual  
disc\nt rate ( ! consid]ation = !       
transf] det]m9$ by tak+ into acc\nt     
*>ges1 fees1 & o!r exp5ses4  7,,ix7 ,!  
am\nt ( any p5alties 7includ+ any       
liquidat$ damages7 payable by ! payee 9 
! case ( any brea* ( ! transf] agreem5t 
by ! payee4  7,b7 ,prime rate ,=        
purposes ( ?is p>agraph1 ! t]m prime    
rate means ! bank prime rate = ! fir/   
day ( ! mon? 9 :i* ! transf] agreem5t is
 execut$1 z publi%$ 9 ! ,f$]al ,res]ve  
,/ati/ical ,release on select$ int]e/   
rates 7daily or weekly71 & commonly     
ref]r$ to z ! ,h4#ae release 7or any    
successor publication74  4  7c7         
,effective date ,! am5dm5ts made by ?is 
section %all apply to /ructur$ settlem5t
 factor+ transactions 7z def9$ 9 section
 #ehia ( su* ,code7 ent]$ into lat] ?an 
#ahj days aft] ! date ( ! enactm5t ( ?is
 ,act4