#aae? ,,congress  #b;d ,session  ,h4 ,r4
 #decg  ,,an ,,act  ,to pres]ve !       
,/ate-bas$ sy/em ( insurance regulation 
& provide great] ov]sight ( & transp>5cy
 on int]national insurance /&>ds sett+  
processes1 & = o!r purposes4  #a4 ,%ort 
title ,?is ,act may be cit$ z !         
,int]national ,insurance ,/&>ds ,act (  
#bjah4  #b4 ,congressional f9d+s ,!     
,congress f9ds ! foll[+3  7#a7 ,!       
,/ate-bas$ sy/em = insurance regulation 
9 ! ,unit$ ,/ates has s]v$ ,am]ican     
consum]s well = m ?an #aej ye>s & has   
fo/]$ an op5 & competitive m>ketplace ) 
a div]sity ( insurance products to !    
b5efit ( policyhold]s & consum]s4  7#b7 
,protect+ policyhold]s by regulat+ to   
ensure an insur]'s ability to pay claims
 has be5 ! hallm>k ( ! successful ,unit$
 ,/ates sy/em & %\ld be ! p>am\nt       
objective ( dome/ic prud5tial regulation
 & em]g+ int]national /&>ds4  7#c7 ,!   
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act 7,public ,law 
#aaa-bjc7 reaffirm$ ! ,/ate-bas$        

insurance regulatory sy/em4  #c4        
,requirem5t t insurance /&>ds reflect   
,unit$ ,/ates policy  7a7 ,requirem5t   
7#a7 ,9 g5]al ,p>ties repres5t+ ! ,f$]al
 ,gov]nm5t 9 any int]national           
regulatory1 /&>d-sett+1 or sup]visory   
=um or 9 any negotiations ( any         
int]national agreem5ts relat+ to !      
prud5tial aspects ( insurance %all n    
agree to1 acc$e to1 accept1 or e/abli%  
any propos$ agreem5t or /&>d if !       
propos$ agreem5t or /&>d fails to       
recognize ! ,unit$ ,/ates sy/em (       
insurance regulation z satisfy+ su*     
proposals4  7#b7 ,inapplicability       
,p>agraph 7#a7 %all n apply to any =um  
or negotiations relat+ to a cov]$       
agreem5t 7z su* t]m is def9$ 9 section  
#cac7r7 ( title #ca1 ,unit$ ,/ates      
,code74  7b7 ,f$]al ,insurance ,(fice   
functions ,subp>agraph 7,e7 ( section   
#cac7;c77#a7 ( title #ca1 ,unit$ ,/ates 
,code1 is am5d$ by ins]t+ ,f$]al        
,gov]nm5t aft] ,unit$ ,/ates4  7c7      
,negotiations ,no?+ 9 ?is section %all  

be con/ru$ to prev5t p>ticipation 9     
negotiations ( any propos$ agreem5t or  
/&>d4  #d4 ,/ate insurance regulator    
involvem5t 9 int]national /&>d sett+ ,9 
develop+ int]national insurance /&>ds   
pursuant to section #c1 & ?r\gh\t !     
negotiations ( su* /&>ds1 p>ties        
repres5t+ ! ,f$]al ,gov]nm5t %all1 on   
matt]s relat$ to insurance1 closely     
consult1 coord9ate )1 & seek to include 
9 su* meet+s ,/ate insurance            
commission]s or1 at ! option ( ! ,/ate  
insurance commission]s1 designees ( !   
insurance commission]s act+ at _!       
direction4  #e4 ,consultation )         
,congress  7a7 ,requirem5t ,p>ties      
repres5t+ ! ,f$]al ,gov]nm5t ) respect  
to any agreem5t "u section #c %all      
provide writt5 notice to & consult ) !  
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives & ! ,committee  
on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! 
,s5ate1 & any o!r relevant committees ( 
jurisdiction-- 7#a7 be=e initiat+       
negotiations to ent] into ! agreem5t1   

reg>d+--  7,a7 ! int5tion ( ! ,unit$    
,/ates to p>ticipate 9 or ent] into su* 
negotiations2 &  7,b7 ! nature &        
objectives ( ! negotiations2 &  7#b7    
dur+ negotiations to ent] into !        
agreem5t1 reg>d+-- 7,a7 ! nature &      
objectives ( ! negotiations2  7,b7 !    
implem5tation ( ! agreem5t1 includ+ h[ x
 is consi/5t ) & does n mat]ially diff] 
f or o!rwise affect ,f$]al or ,/ate laws
 or regulations2  7,c7 ! impact on !    
competitiv5ess ( ,unit$ ,/ates insur]s2 
&  7,d7 ! impact on ,unit$ ,/ates       
consum]s4  7b7 ,consultation ) ,f$]al   
,advisory ,committee on ,insurance ,be=e
 ent]+ into an agreem5t "u section #c1 !
 ,secret>y ( ! ,treasury %all seek to   
consult ) ! ,f$]al ,advisory ,committee 
on ,insurance =m$ pursuant to section   
#cac7;h7 ( title #ca1 ,unit$ ,/ates     
,code4  #f4 ,report to ,congress on     
int]national insurance agreem5ts ,be=e  
ent]+ into an agreem5t "u section #c1   
p>ties repres5t+ ! ,f$]al ,gov]nm5t %all
 submit to ! appropriate congressional  

committees & lead]%ip a report t        
describes-- 7#a7 ! implem5tation ( !    
agreem5t1 includ+ h[ x is consi/5t ) &  
does n mat]ially diff] f or o!rwise     
affect ,f$]al or ,/ate laws or          
regulations2  7#b7 ! impact on !        
competitiv5ess ( ,unit$ ,/ates insur]s2 
&  7#c7 ! impact on ,unit$ ,/ates       
consum]s4  #g4 ,cov]$ agreem5ts  7a7    
,preemption ( ,/ate insurance measures  
,subsection 7f7 ( section #cac ( title  
#ca1 ,unit$ ,/ates ,code1 is am5d$ by   
/rik+ ,director ea* place su* t]m appe>s
 & ins]t+ ,secret>y4  7b7 ,def9ition    
,p>agraph 7#b7 ( section #cac7r7 ( title
 #ca1 ,unit$ ,/ates ,code1 is am5d$--   
7#a7 9 subp>agraph 7,a71 by /rik+ & at !
 end2  7#b7 9 subp>agraph 7,b71 by /rik+
 ! p]iod at ! end & ins]t+ 2 &2 &  7#c7 
by add+ at ! end ! foll[+ new           
subp>agraph3  7,c7 applies only on a    
prospective basis4  4  7c7              
,consultation2 submission & layov]2     
congressional review ,section #cad (    
title #ca1 ,unit$ ,/ates ,code is       

am5d$-- 7#a7 9 subsection 7b7--  7,a7 9 
p>agraph 7#b77;,c71 by /rik+ laws &     
ins]t+ ! foll[+3 & ,f$]al law1 & !      
nature ( any *anges 9 ! laws ( ! ,unit$ 
,/ates or ! adm9i/ration ( su* laws t   
w\ld be requir$ to c>ry out a cov]$     
agreem5t2 &  7,b7 by add+ at ! end !    
foll[+ new p>agraph3  7#c7 ,access to   
negotiat+ texts & o!r docum5ts          
,appropriate congressional committees & 
/aff ) prop] security cle>ances %all be 
giv5 timely access to ,unit$ ,/ates     
negotiat+ proposals1 consolidat$ draft  
texts1 & o!r p]t95t docum5ts relat$ to !
 negotiations1 includ+ classifi$        
mat]ials4  2  7#b7 by r$esignat+        
subsection 7c7 z subsection 7d72  7#c7  
by ins]t+ aft] subsection 7b7 ! foll[+  
new subsection3  7c7 ,requirem5ts =     
consultations ) ,/ate insurance         
commission]s ,?r\gh\t ! negotiations ( a
 cov]$ agreem5t1 p>ties repres5t+ !     
,f$]al ,gov]nm5t %all closely consult & 
coord9ate ) ,/ate insurance             
commission]s4  2  7#d7 9 subsection 7d71

 z s r$esignat$ by p>agraph 7#b7-- 7,a7 
9 ! matt] prec$+ p>agraph 7#a71 by /rik+
 only if-- & ins]t+ ! foll[+3 only if1  
be=e sign+ ! f9al legal text or o!rwise 
ent]+ into ! agreem5t--2  7,b7 9        
p>agraph 7#a71 by /rik+ congressional   
committees specifi$ 9 subsection 7b77#a7
 & ins]t+ appropriate congressional     
committees & lead]%ip & to congressional
 committee /aff ) prop] security        
cle>ances2 &  7,c7 by /rik+ p>agraph    
7#b7 & ins]t+ ! foll[+ new p>agraph3    
7#b7  7,a7 ! #ij-;day p]iod beg9n+ on ! 
date on :i* ! copy ( ! f9al legal text (
 ! agreem5t is submitt$ "u p>agraph 7#a7
 to ! congressional committees1         
lead]%ip1 & /aff has expir$2 &  7,b7 !  
cov]$ agreem5t has n be5 prev5t$ f tak+ 
effect pursuant to subsection 7e74  2 & 
7#e7 by add+ at ! end ! foll[+ new      
subsections3  7e7 ,p]iod = review by    
,congress  7#a7 ,9 g5]al ,dur+ ! layov] 
p]iod ref]r$ to 9 subsection            
7d77#b77;,a71 ! ,committees on ,bank+1  
,h\s+1 & ,urban ,affairs & ,f9ance ( !  

,s5ate & ! ,committees on ,f9ancial     
,s]vices & ,ways ( ,means ( ! ,h\se (   
,repres5tatives %\ld1 z appropriate1    
ex]cise _! full ov]sight responsibility4
  7#b7 ,effect ( enactm5t ( a jo9t      
resolution ( disapproval ,not)/&+ any   
o!r provision ( law1 if a jo9t          
resolution ( disapproval relat+ to a    
cov]$ agreem5t submitt$ "u subsection   
7d77#a7 is enact$ 9 accordance )        
subsection 7f71 ! cov]$ agreem5t %all n 
ent] into =ce ) respect to ! ,unit$     
,/ates4  7f7 ,jo9t resolutions (        
disapproval  7#a7 ,def9ition ,9 ?is     
subsection1 ! t]m jo9t resolution (     
disapproval means1 ) respect to propos$ 
cov]$ agreem5t1 only a jo9t resolution (
 ei!r ,h\se ( ,congress--  7,a7 t is    
introduc$ dur+ ! #ij-;day p]iod ref]r$  
to 9 subsection 7d77#b77;,a7 relat+ to  
su* propos$ cov]$ agreem5t2  7,b7 :i*   
does n h a preamble2  7,c7 ! title ( :i*
 is z foll[s3 ,a jo9t resolution        
disapprov+ a c]ta9 propos$ cov]$        
agreem5t "u section #cad ( title #ca1   

,unit$ ,/ates ,code42 &  7,d7 ! sole    
matt] aft] ! resolv+ clause ( :i* is !  
foll[+3 ,congress disapproves ( !       
propos$ cov]$ agreem5t submitt$ to      
,congress "u section #cad 7c77#a7 (     
title #ca1 ,unit$ ,/ates ,code1 on      
relat+ to 41 ) ! fir/ blank space be+   
fill$ ) ! appropriate date & ! second   
blank space be+ fill$ ) a %ort          
description ( ! propos$ cov]$ agreem5t4 
7#b7 ,introduction ,dur+ ! layov] p]iod 
ref]r$ to 9 subsection 7d77#b77;,a71 a  
jo9t resolution ( disapproval may be    
introduc$-- 7,a7 9 ! ,h\se (            
,repres5tatives1 by any ,memb] ( !      
,h\se1 &  7,b7 9 ! ,s5ate1 by any       
,s5ator1  & %all be ref]r$ to !         
appropriate committees4  7#c7 ,rules (  
h\se ( repres5tatives & s5ate ,?is      
subsection is enact$ by ,congress--     
7,a7 z an ex]cise ( ! rulemak+ p[] ( !  
,s5ate & ! ,h\se ( ,repres5tatives1     
respectively1 & z su* is deem$ a "p ( ! 
rules ( ea* ,h\se1 respectively1 &      
sup]s$es o!r rules only to ! ext5t t x  

is inconsi/5t ) su* rules2 &  7,b7 )    
full recognition ( ! con/itutional "r ( 
ei!r ,h\se to *ange ! rules 7s f> z     
relat+ to ! proc$ure ( t ,h\se7 at any  
"t1 9 ! same mann]1 & to ! same ext5t z 
9 ! case ( any o!r rule ( t ,h\se4  7g7 
,appropriate congressional committees & 
lead]%ip def9$ ,9 ?is section1 ! t]m    
appropriate congressional committees &  
lead]%ip means-- 7#a7 ! ,committees on  
,bank+1 ,h\s+1 & ,urban ,affairs &      
,f9ance1 & ! majority & m9ority lead]s1 
( ! ,s5ate2 &  7#b7 ! ,committees on    
,f9ancial ,s]vices & ,ways & ,means1 & !
 ,speak]1 ! majority lead]1 & ! m9ority 
lead]1 ( ! ,h\se ( ,repres5tatives4  4  
#h4 ,inapplicability to trade agreem5ts 
,?is ,act & ! am5dm5ts made by ?is ,act 
%all n apply to any =um or negotiations 
relat$ to a trade agreem5t4  ,pass$ !   
,h\se ( ,repres5tatives ,july #aj1      
#bjah4;,cl]k4