,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #deib  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #a1 #bjai,mr4 
,heck 7= himself & ,mr4 ,budd7 introduc$
 ! foll[+ bill2 :i* 0 ref]r$ to !       
,committee on ,f9ancial ,s]vices  ,a    
,,bill  ,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 ( #bjai4  #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 su*     
p>ties det]m9e t ! ,unit$ ,/ates sy/em (
 insurance regulation w\ld n 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      
,negotiations2 regulatory dialogues     
7#a7 ,negotiations ,no?+ 9 ?is section  
%all be con/ru$ to prev5t p>ticipation 9
 negotiations ( any propos$ agreem5t or 
/&>d4  7#b7 ,regulatory dialogues ,no?+ 
9 ?is section %all apply to regulatory  
dialogues n int5d$ to create /&>ds or   
result 9 an agreem5t n creat+ /&>ds     
relat+ to ! prud5tial aspects (         
insurance4  #d4 ,/ate insurance         
regulator involvem5t 9 int]national /&>d
 sett+ ,9 develop+ int]national         
insurance /&>ds or agreem5ts pursuant to
 section #c1 & ?r\gh\t ! negotiations ( 
su* /&>ds or agreem5ts1 & 9 regulatory  
dialogues1 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 ,inapplicability to trade
 agreem5ts ,?is ,act %all n apply to any
 =um or negotiations relat$ to a trade  
agreem5t4