,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #gcc  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #aa1 #bjai,mr4    
,toomey 7= himself1 ,mr4 ,m55dez1 ,mr4  
,r\nds1 & ,mr4 ,pet]s7 introduc$ !      
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,bank+1 ,h\s+1 &     
,urban ,affairs  ,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 ( #bjai4  #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[ t is n "p
 ( a program or facility ) broad-bas$   
eligibility e/abli%$ 9 unusual or exig5t
 circum/ances4  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 #h  
/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 ! objective or      
pr9cipal inve/m5t /rategy ( ! company or
 s]ies is n inconsi/5t ) ! 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 ,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 regulation74  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 discloses ! 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