#aag? ,,congress  #b;d ,session  ,s4    
#caih  ,,an ,,act  ,to direct !         
,securities & ,ex*ange ,commission to   
revise any rules necess>y to enable     
issu]s ( index-l9k$ annuities to regi/] 
on a =m tailor$ specifically to regi/]$ 
index-l9k$ annuities1 & = o!r purposes4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,regi/ration = ,index-,l9k$ ,annuities
 ,act4  #b4 ,p>ity = regi/]$ index-l9k$ 
annuities reg>d+ regi/ration rules  7a7 
,def9itions ,9 ?is section3 7#a7        
,commission ,! t]m ,commission means !  
,securities & ,ex*ange ,commission4     
7#b7 ,inve/m5t company ,! t]m inve/m5t  
company has ! mean+ giv5 ! t]m 9 section
 #c ( ! ,inve/m5t ,company ,act ( #aidj 
7#ae ,u4,s4,c4 #hj;a-#c74  7#c7 ,m>ket  
value adju/m5t ,! t]m m>ket value       
adju/m5t means1 ) respect to a regi/]$  
index-l9k$ annuity1 aft] an e>ly )drawal
 or contract discont9uance-- 7,a7 an    
adju/m5t to ! value ( t annuity bas$ on 
calculations us+ a pr$et]m9$ =mula2 or  
7,b7 a *ange 9 int]e/ rates 7or o!r     

factor1 z det]m9$ by ! ,commission7 t   
apply to t annuity4  7#d7 ,pur*as] ,!   
t]m pur*as] means a pur*as] ( a regi/]$ 
index-l9k$ annuity4  7#e7 ,regi/]$      
index-l9k$ annuity ,! t]m regi/]$       
index-l9k$ annuity means an annuity--   
7,a7 t is deem$ to be a security2  7,b7 
t is regi/]$ ) ! ,commission 9          
accordance ) section #e ( ! ,securities 
,act ( #aicc 7#ae ,u4,s4,c4 #gg;e72     
7,c7 t is issu$ by an insurance company 
t is subject to ! sup]vision (-- 7i7 !  
insurance commission] or bank           
commission] ( any ,/ate2 or  7ii7 any   
ag5cy or (fic] p]=m+ l functions z a    
commission] describ$ 9 clause 7i72  7,d7
 t is n issu$ by an inve/m5t company2 & 
7,e7 ! returns ( :i*-- 7i7 are bas$ on !
 p]=mance ( a specifi$ b5*m>k index or  
rate 7or a regi/]$ ex*ange trad$ fund t 
seeks to track ! p]=mance ( a specifi$  
b5*m>k index or rate72 &  7ii7 may be   
subject to a m>ket value adju/m5t if    
am\nts are )drawn be=e ! end ( ! p]iod  
dur+ :i* t m>ket value adju/m5t applies4

  7#f7 ,security ,! t]m security has !  
mean+ giv5 ! t]m 9 section #b7;a7 ( !   
,securities ,act ( #aicc 7#ae ,u4,s4,c4 
#gg;b7a774  7b7 ,rules  7#a7 ,9 g5]al ,n
 lat] ?an #ahj days aft] ! date (       
enactm5t ( ?is ,act1 ! ,commission %all 
propose1 &1 n lat] ?an #ah mon?s aft] ! 
date ( enactm5t ( ?is ,act1 !           
,commission %all prep>e & f9alize1 new  
or am5d$ rules1 z appropriate1 to       
e/abli% a new =m 9 accordance ) p>agraph
 7#b7 on :i* an issu] ( a regi/]$       
index-l9k$ annuity may regi/] t regi/]$ 
index-l9k$ annuity1 subject to          
conditions ! ,commission det]m9es       
appropriate1 :i* may include requir+ !  
issu] to take ! /eps describ$ 9 section 
#bdj4ab;h-#g7;e7 ( title #ag1 ,code (   
,f$]al ,regulations1 or any successor   
regulation1 ) respect to ! regi/]$      
index-l9k$ annuity4  7#b7 ,design ( =m  
,9 develop+ ! =m requir$ to be e/abli%$ 
"u p>agraph 7#a71 ! ,commission %all--  
7,a7 design ! =m to ensure t a pur*as]  
us+ ! =m receives ! in=mation necess>y  

to make kn[l$geable decisions1 tak+ into
 acc\nt-- 7i7 ! availability (          
in=mation2  7ii7 ! k & sophi/ication ( t
 class ( pur*as]s2  7iii7 ! complexity (
 ! regi/]$ index-l9k$ annuity2 &  7iv7  
any o!r factor ! ,commission det]m9es   
appropriate2  7,b7 engage 9 inve/or     
te/+2 &  7,c7 incorporate ! results ( ! 
te/+ requir$ "u subp>agraph 7,b7 9 !    
design ( ! =m1 ) ! goal ( ensur+ t key  
in=mation is convey$ 9 t]ms t a pur*as] 
is able to und]/&4  7c7 ,treatm5t if    
rules n prep>$ & f9aliz$ 9 a timely     
mann]  7#a7 ,9 g5]al ,if1 z ( ! date t  
is #ah mon?s aft] ! date ( enactm5t (   
?is ,act1 ! ,commission has fail$ to    
prep>e & f9alize ! rules requir$ "u     
subsection 7b77#a71 any regi/]$         
index-l9k$ annuity may be regi/]$ on !  
=m describ$ 9 section #bci4ag;b ( title 
#ag1 ,code ( ,f$]al ,regulations1 or any
 successor regulation4  7#b7 ,prep>ation
 ,a regi/ration describ$ 9 p>agraph 7#a7
 %all be prep>$ pursuant to applicable  
provisions ( ! =m describ$ 9 t p>agraph4

  7#c7 ,t]m9ation ,?is subsection %all  
t]m9ate ^u ! e/abli%m5t by ! ,commission
 ( ! =m describ$ 9 subsection 7b74  7d7 
,rules ( con/ruction ,no?+ 9 ?is section
 may be con/ru$ to-- 7#a7 limit !       
au?ority ( ! ,commission to-- 7,a7      
det]m9e ! in=mation to be reque/$ 9 ! =m
 describ$ 9 subsection 7b72 or  7,b7    
ext5d ! eligibility = ! =m describ$ 9   
subsection 7b7 to a product t is simil> 
to1 b is n1 a regi/]$ index-l9k$        
annuity2 or  7#b7 preempt any ,/ate law1
 regulation1 rule1 or ord]4  ,pass$ !   
,s5ate ,decemb] #f1 #bjbb4,secret>y