,,ii  #aae? ,,congress  #a/ ,session    
,s4 #acfj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ad1 #bjag ,mr4  
,hell] 7= himself & ,mr4 ,te/]7         
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to require ! ,bo>d ( ,gov]nors 
( ! ,f$]al ,res]ve ,sy/em to e/abli% an 
,insurance ,policy ,advisory ,committee 
on ,int]national ,capital ,/&>ds & ,o!r 
,insurance ,issues1 & = o!r purposes4   
#a4 ,%ort title  ,?is ,act may be cit$ z
 ! ,int]national ,insurance ,capital    
,/&>ds ,acc\ntability ,act ( #bjag4  #b4
 ,def9itions  ,9 ?is ,act-- 7#a7 ! t]m  
appropriate committees ( ,congress      
means--  7,a7 ! ,committee on ,bank+1   
,h\s+1 & ,urban ,affairs ( ! ,s5ate2 &  
7,b7 ! ,committee on ,f9ancial ,s]vices 
( ! ,h\se ( ,repres5tatives2  7#b7 ! t]m
 ,bo>d ( ,gov]nors means ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em2    
7#c7 ! t]m ,committee means ! ,insurance
 ,policy ,advisory ,committee on        

,int]national ,capital ,/&>ds & ,o!r    
,insurance ,issues e/abli%$ "u section  
#d7;a72 &  7#d7 ! t]m ,secret>y means ! 
,secret>y ( ! ,treasury4  #c4 ,f9d+s    
,congress f9ds t ! ,secret>y & ! ,bo>d (
 ,gov]nors %\ld--  7#a7 support increas+
 transp>5cy at any global insurance or  
int]national /&>d-sett+ regulatory or   
sup]visory =um 9 :i* ! ,secret>y & !    
,bo>d ( ,gov]nors p>ticipate1 includ+   
support+ & advocat+ = great] public     
obs]v] access to work+ gr\ps & committee
 meet+s ( ! ,int]national ,association (
 ,insurance ,sup]visors2 &  7#b7 a*ieve 
cons5sus positions ) ,/ate insurance    
regulators1 ?r\gh ! ,national           
,association ( ,insurance               
,commission]s--  7,a7 if ! ,secret>y & !
 ,bo>d ( ,gov]nors take a position1 or  
reasonably int5d to take a position1 )  
respect to an insurance proposal by a   
global insurance regulatory or          
sup]visory =um2 &  7,b7 :5 ! ,secret>y1 
! ,bo>d ( ,gov]nors1 & ! ,national      
,association ( ,insurance ,commission]s 

repres5t ! ,unit$ ,/ates 9 negotiations 
) respect to insurance issues be=e !    
,int]national ,association ( ,insurance 
,sup]visors1 ! ,f9ancial ,/ability      
,bo>d1 or any o!r int]national =um (    
f9ancial regulators or sup]visors t     
consid]s insurance issues4  #d4         
,insurance ,policy ,advisory ,committee 
7a7 ,e/abli%m5t ,! ,bo>d ( ,gov]nors    
%all e/abli% ! ,insurance ,policy       
,advisory ,committee on ,int]national   
,capital ,/&>ds & ,o!r ,insurance       
,issues4  7b7 ,memb]%ip ,! ,committee   
%all be compos$ ( n m ?an #aa memb]s1   
all ( :om %all repres5t a div]se set (  
exp]t p]spectives f ! v>i\s sectors ( ! 
insurance indu/ry ( ! ,unit$ ,/ates1    
includ+ individuals--  7#a7 f ! fields  
(-- 7,a7 life insurance2  7,b7 prop]ty &
 casualty insurance2 &  7,c7 re9surance2
 &  7#b7 ) exp]i5ce s]v+ z--  7,a7 ag5ts
 & brok]s2  7,b7 academics2  7,c7       
consum] advocates2 or  7,d7 exp]ts on   
issues fac+ und]s]v$ insurance          
communities & consum]s4  7c7            

,nonapplicability ( ,,faca ,! ,f$]al    
,advisory ,committee ,act 7#e ,u4,s4,c4 
,app47 %all n apply to ! ,committee or !
 activities ( ! ,committee4  #e4        
,requirem5ts = cons5t to adopt          
int]national capital insurance /&>ds  ,!
 ,secret>y & ! ,bo>d ( ,gov]nors may n  
agree to1 accept1 e/abli%1 ent] into1 or
 cons5t to ! adoption ( a f9al          
int]national capital insurance /&>d ) an
 int]national /&>d-sett+ organization or
 a =eign gov]nm5t1 au?ority1 or         
regulatory entity unless--  7#a7 !      
,secret>y & ! ,*air ( ! ,bo>d (         
,gov]nors h1 ) respect to ! text ( !    
propos$ f9al int]national capital       
insurance /&>d--  7,a7 publi%$ ! text 9 
! ,f$]al ,regi/]2  7,b7 made ! text     
available = public comm5t = a p]iod ( n 
less ?an #cj days2 &  7,c7 submitt$ a   
copy ( ! text to ! appropriate          
committees ( ,congress on a date on :i* 
bo? ,h\ses ( ,congress are 9 session2   
7#b7 ! int]national capital insurance   
/&>d is n inconsi/5t ) capital          

requirem5ts set =? 9 ! ,/ate-bas$ sy/em 
( insurance regulation2 &  7#c7 if !    
int]national capital insurance /&>d w   
apply to a company sup]vis$ by ! ,bo>d (
 ,gov]nors1 ! int]national capital      
insurance /&>d is n inconsi/5t ) !      
capital requirem5ts ( ! ,bo>d (         
,gov]nors = t company4  #f4 ,reports    
7a7 ,reports & te/imony by ,secret>y ( !
 ,treasury & ,*air ( ! ,bo>d ( ,gov]nors
 ( ! ,f$]al ,res]ve ,sy/em  7#a7 ,9     
g5]al ,! ,secret>y & ! ,*air ( ! ,bo>d (
 ,gov]nors1 or _! designees1 %all submit
 to ! appropriate committees ( ,congress
 an annual report1 & provide annual     
te/imony to ^? committees1 relat+ to !  
ef=ts ( ! ,secret>y & ! ,*air1 along ) !
 ,national ,association ( ,insurance    
,commission]s1 ) respect to global      
insurance regulatory or sup]visory =ums1
 includ+ a description (--  7,a7 !      
insurance regulatory or sup]visory      
/&>d-sett+ issues "u discussion at      
int]national /&>d-sett+ bodies1 includ+ 
! ,f9ancial ,/ability ,bo>d & !         

,int]national ,association ( ,insurance 
,sup]visors2  7,b7 ! effects t proposals
 discuss$ at int]national insurance     
regulatory or sup]visory =ums (         
insurance c\ld h on consum] & insurance 
m>kets 9 ! ,unit$ ,/ates2  7,c7 any     
position tak5 by ! ,secret>y & ! ,bo>d (
 ,gov]nors dur+ int]national insurance  
discussions2 &  7,d7 ! ef=ts by !       
,secret>y & ! ,bo>d ( ,gov]nors to      
increase transp>5cy at--  7i7 !         
,f9ancial ,/ability ,bo>d ) respect to  
insurance proposals2 &  7ii7 !          
,int]national ,association ( ,insurance 
,sup]visors1 includ+ ef=ts to provide   
additional public access to work+ gr\ps 
& committees ( ! ,int]national          
,association ( ,insurance ,sup]visors4  
7#b7 ,t]m9ation ,?is p>agraph %all      
t]m9ate on ,decemb] #ca1 #bjbj4  7b7    
,reports & te/imony by ,national        
,association ( ,insurance ,commission]s 
,! ,national ,association ( ,insurance  
,commission]s may provide te/imony to   
,congress on ! issues describ$ 9        

subsection 7a77#a74  7c7 ,jo9t report by
 ! ,*air ( ! ,bo>d ( ,gov]nors ( !      
,f$]al ,res]ve ,sy/em & ! ,secret>y ( ! 
,treasury  7#a7 ,9 g5]al ,be=e support+ 
or cons5t+ to ! adoption ( any f9al     
int]national insurance capital /&>d1 !  
,secret>y & ! ,*air ( ! ,bo>d (         
,gov]nors %all1 9 consultation ) !      
,national ,association ( ,insurance     
,commission]s1 complete a /udy1 & submit
 to ,congress a report on ! results ( ! 
/udy1 ) respect to ! impact t ! capital 
/&>d w\ld h on consum]s & m>kets 9 !    
,unit$ ,/ates4  7#b7 ,notice & comm5t   
7,a7 ,notice ,) respect to a report     
describ$ 9 p>agraph 7#a71 ! ,secret>y & 
! ,*air ( ! ,bo>d ( ,gov]nors %all1 on !
 date on :i* ! ,secret>y & ! ,*air beg9 
draft+ ! report1 provide notice to !    
appropriate committees ( ,congress t !  
,secret>y & ! ,*air h begun draft+ !    
report4  7,b7 ,opportunity = comm5t     
,dur+ ! p]iod beg9n+ on ! date on :i* a 
report is submitt$ to ,congress "u      
p>agraph 7#a7 & end+ on ! date t is #fj 

days aft] ! date on :i* ! report is     
submitt$1 ! ,secret>y & ! ,*air ( !     
,bo>d ( ,gov]nors %all provide an       
opportunity = public comm5t ) respect to
 ! report4  7#c7 ,review by ,comptroll] 
,g5]al ,on ! date on :i* ! ,secret>y & !
 ,*air ( ! ,bo>d ( ,gov]nors submit to  
,congress a report "u p>agraph 7#a71 !  
,secret>y & ! ,*air %all submit to !    
,comptroll] ,g5]al ( ! ,unit$ ,/ates a  
copy ( ! report = review by !           
,comptroll] ,g5]al4  7d7 ,report on     
r$uction 9 transp>5cy ,n lat] ?an #ahj  
days aft] ! date ( enactm5t ( ?is ,act1 
! ,*air ( ! ,bo>d ( ,gov]nors & !       
,secret>y1 or _! designees1 %all submit 
to ,congress a report1 & provide        
te/imony to ,congress1 ) respect to !   
ef=ts ( ! ,*air & ! ,secret>y to        
increase transp>5cy at meet+s ( !       
,int]national ,association ( ,insurance 
,sup]visors4