,,ib ,union ,cal5d> ,no4 #fii #aae? ,,congress #b;d ,session ,h4 ,r4 #bcai ,report ,no4 #aae-ijc ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,may #c1 #bjag ,mr4 ,ro?fus 7= himself1 ,ms4 ,moore1 & ,mr4 ,/iv]s7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,augu/ #bd1 #bjah ,additional sponsors3 ,ms4 ,sewell ( ,alabama1 ,mr4 ,trott1 ,mr4 ,sires1 ,mr4 ,mess]1 ,mr4 ,tib]i1 ,mr4 ,ross1 ,mr4 ,david ,scott ( ,georgia1 ,ms4 ,kelly ( ,ill9ois1 ,ms4 ,eddie ,b]nice ,johnson ( ,texas1 ,mr4 ,mool5a>1 ,mr4 ,murphy ( ,p5nsylvania1 ,mrs4 ,beatty1 ,mr4 ,meeks1 ,mr4 ,mi*ael ,f4 ,doyle ( ,p5nsylvania1 ,mr4 ,mooney ( ,we/ ,virg9ia1 ,mr4 ,gonzalez ( ,texas1 ,mr4 ,williams1 ,mr4 ,mac,arthur1 ,mr4 ,pitt5g]1 ,mr4 ,clay1 ,mr4 ,?ompson ( ,p5nsylvania1 ,mr4 ,cleav]1 ,ms4 ,s9ema1 ,mr4 ,kildee1 ,mr4 ,kelly ( ,p5nsylvania1 ,mr4 ,sessions1 ,mr4 ,ryan ( ,ohio1 ,mr4 ,got!im]1 ,mr4 ,budd1 ,mr4 ,lawson ( ,florida1 ,mr4 ,olson1 ,mr4 ,fitzpatrick1 ,mr4 ,r5acci1 ,mr4 ,ha/+s1 ,mr4 ,hill1 ,mr4 ,tipton1 ,mrs4 ,wagn]1 ,ms4 ,fudge1 ,mr4 ,flores1 ,mr4 ,%u/]1 ,mr4 ,f>5?old1 ,ms4 ,jackson ,lee1 ,mr4 ,d5t1 ,mr4 ,davidson1 ,mr4 ,zeld91 ,mr4 ,sean ,patrick ,maloney ( ,new ,york1 ,mr4 ,b>letta1 ,mr4 ,ku/(f ( ,t5nessee1 ,mr4 ,b>r1 ,mr4 ,emm]1 ,mr4 ,smi? ( ,texas1 ,mr4 ,e/es ( ,kansas1 ,mr4 ,danny ,k4 ,davis ( ,ill9ois1 ,mr4 ,arr+ton1 ,mr4 ,long1 ,mr4 ,p]ry1 ,mr4 ,evans1 ,mr4 ,br5dan ,f4 ,boyle ( ,p5nsylvania1 ,mr4 ,bab91 ,mr4 ,m>9o1 ,mr4 ,brady ( ,p5nsylvania1 ,mr4 ,smuck]1 ,mr4 ,vela1 ,mr4 ,faso1 ,mr4 ,donovan1 ,mr4 ,higg9s ( ,new ,york1 ,mr4 ,mc,caul1 ,mr4 ,norcross1 ,mr4 ,walb]g1 ,mr4 ,cram]1 & ,mr4 ,c>twright ,augu/ #bd1 #bjah ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$ ,/rike out all aft] ! enact+ clause & ins]t ! "p pr9t$ 9 italic ,= text ( introduc$ bill1 see copy ( bill z introduc$ on ,may #c1 #bjag ,a ,,bill ,to protect ! inve/m5t *oices ( inve/ors 9 ! ,unit$ ,/ates1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,consum] ,f9ancial ,*oice & ,capital ,m>kets ,protection ,act ( #bjah4 #b4 ,treatm5t ( money m>ket funds "u ! ,inve/m5t ,company ,act ( #aidj ,! ,inve/m5t ,company ,act ( #aidj 7#ae ,u4,s4,c4 #hj;a-#a et seq47 is am5d$ by add+ at ! end ! foll[+3 #ff4 ,money m>ket funds 7a7 ,def9itions ,9 ?is section-- 7#a7 ! t]m cov]$ ,f$]al assi/ance means ,f$]al assi/ance us$ = ! purpose (-- 7,a7 mak+ any loan to1 or pur*as+ any /ock1 equity int]e/1 or debt obligation (1 any money m>ket fund2 7,b7 gu>antee+ any loan or debt issuance ( any money m>ket fund2 or 7,c7 ent]+ into any assi/ance arrangem5t 7includ+ tax breaks71 loss %>+1 or pr(it %>+ ) any money m>ket fund2 & 7#b7 ! t]m ,f$]al assi/ance means-- 7,a7 insurance or gu>antees by ! ,f$]al ,deposit ,insurance ,corporation2 7,b7 transactions involv+ ! ,secret>y ( ! ,treasury2 or 7,c7 ! use ( any advances f any ,f$]al ,res]ve cr$it facility or disc\nt w9d[1 except to ! ext5t any "p ( a program or facility ) broad-bas$ eligibility e/abli%$ 9 unusual or exig5t circum/ances might be made available4 7b7 ,election ,to be a /able value money m>ket fund 7#a7 ,9 g5]al ,not)/&+ any o!r provision ( ?is title1 any op5-end inve/m5t company 7or a sep>ate s]ies !re(7 t is a money m>ket fund t relies on section #bgj4b;a-#g ( title #ag1 ,code ( ,f$]al ,regulations1 may1 9 ! prospectus includ$ 9 its regi/ration /atem5t fil$ "u section #h1 /ate t ! company or s]ies has elect$ to compute ! curr5t price p] %>e1 = purposes ( di/ribution or r$emption & repur*ase1 ( any r$eemable security issu$ by ! company or s]ies by us+ ! amortiz$ co/ me?od ( valuation1 or ! p5ny-r\nd+ me?od ( pric+1 reg>dless ( :e!r its %>ehold]s are limit$ to natural p]sons1 if-- 7,a7 ! company or s]ies has z its objective ! g5]ation ( income & pres]vation ( capital ?r\gh inve/m5t 9 %ort-t]m1 high-quality debt securities2 7,b7 ! bo>d ( directors ( ! company or s]ies elects1 on behalf ( ! company or s]ies1 to ma9ta9 a /able net asset value p] %>e or /able price p] %>e1 by us+ ! amortiz$ co/ valuation me?od1 z def9$ 9 section #bgj4b;a-#g7;a7 ( title #ag1 ,code ( ,f$]al ,regulations 7or successor regulation71 or ! p5ny-r\nd+ pric+ me?od1 z def9$ 9 section #bgj4b;a-#g7;a7 ( title #ag1 ,code ( ,f$]al ,regulations 7or successor regulation71 & ! bo>d ( directors ( ! company has det]m9$1 9 good fai?1 t-- 7i7 x is 9 ! be/ int]e/s ( ! company or s]ies1 & its %>ehold]s1 to d s2 & 7ii7 ! money m>ket fund w cont9ue to use su* me?od or me?ods only z long z ! bo>d ( directors believes t ! result+ %>e price fairly reflects ! m>ket-bas$ net asset value p] %>e ( ! company or s]ies2 & 7,c7 ! company or s]ies w comply ) su* quality1 maturity1 div]sification1 liquidity1 & o!r requirem5ts1 includ+ relat$ proc$ural & recordkeep+ requirem5ts1 z ! ,commission1 by rule or regulation or ord]1 may prescribe or has prescrib$ z necess>y or appropriate 9 ! public int]e/ or = ! protection ( inve/ors to ! ext5t t su* requirem5ts & provisions are n inconsi/5t ) ?is section4 7#b7 ,exemption f default liquidity fee requirem5ts 7,a7 ,elections "u p>agraph 7#a7 ,not)/&+ section #bgj4b;a-#g ( title #ag1 ,code ( ,f$]al ,regulations 7or successor regulation71 no company or s]ies t makes ! election "u p>agraph 7#a7 %all be subject to ! default liquidity fee requirem5ts ( section #bgj4b;a-#g7;c77#b77;ii7 ( title #ag1 ,code ( ,f$]al ,regulations 7or successor regulation7 unless ! bo>d ( directors ( su* company or s]ies elects1 9 ! prospectus includ$ 9 ! regi/ration /atem5t fil$ "u section #h1 to be subject to su* requirem5ts4 7,b7 ,o!r funds ,not)/&+ section #bgj4b;a-#g ( title #ag1 ,code ( ,f$]al ,regulations 7or successor regulation71 a company or s]ies t does n make an election "u p>agraph 7#a7 %all n be subject to ! default liquidity fee requirem5ts ( section #bgj4b;a-#g7;c77#b77;ii7 ( title #ag1 ,code ( ,f$]al ,regulations 7or successor regulation71 if x /ates 9 ! prospectus includ$ 9 ! regi/ration /atem5t fil$ "u section #h1 t ! company or s]ies satisfies ! provisions ( subp>agraphs 7,a7 & 7,c7 ( p>agraph 7#a7 & t ! bo>d ( directors ( su* company or s]ies has elect$ = ! company or s]ies to n be subject to ! default liquidity fee requirem5ts4 7c7 ,prohibition aga9/ ,f$]al ,gov]nm5t bail\ts ( money m>ket funds ,not)/&+ any o!r provision ( law 7includ+ regulations71 cov]$ ,f$]al assi/ance may n be provid$ directly to any money m>ket fund4 7d7 ,disclosure ( ! prohibition aga9/ ,f$]al ,gov]nm5t bail\ts ( money m>ket funds 7#a7 ,9 g5]al ,no pr9cipal und]writ] ( a r$eemable security issu$ by a money m>ket fund nor any deal] %all (f] or sell any su* security to any p]son unless ! prospectus ( ! money m>ket fund & any adv]tis+ or sales lit]ature = su* fund prom95tly discloses1 on ! fir/ page ( su* prospectus or lit]ature1 ! prohibition aga9/ direct cov]$ ,f$]al assi/ance z describ$ 9 subsection 7c74 7#b7 ,rules1 regulations1 & ord]s ,! ,commission may1 aft] consultation ) & tak+ into acc\nt ! views ( ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 ! ,f$]al ,deposit ,insurance ,corporation1 & ! ,dep>tm5t ( ! ,treasury1 adopt rules & regulations & issue ord]s consi/5t ) ! protection ( inve/ors1 prescrib+ ! mann] 9 :i* ! disclosure "u ?is subsection %all be provid$4 7e7 ,cont9u+ obligation ,to meet requirem5ts ( ?is title ,a company or s]ies t makes an election "u subsection 7b77#a7 %all rema9 subject to ! provisions ( ?is title & ! rules & regulations ( ! ,commission !reund] t w\ld o!rwise apply if ^? provisions d n conflict ) ! provisions ( ?is section4 4 ,augu/ #bd1 #bjah ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$