,,ii  #aai? ,,congress  #a/ ,session    
,s4 #hji  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #bg1 #bjbe,mr4
 ,lee 7= himself & ,mr4 ,scott (        
,florida7 introduc$ ! foll[+ bill2 :i* 0
 read twice & ref]r$ to ! ,committee on 
,f9ance  ,a ,,bill  ,to am5d ! ,"r to   
,f9ancial ,privacy ,act ( #aigh to      
pres]ve ! confid5tiality ( c]ta9        
records1 & = o!r purposes4  #a4 ,%ort   
title2 table ( cont5ts  7a7 ,%ort title 
,?is ,act may be cit$ z ! ,sav+ ,privacy
 ,act4  7b7 ,table ( cont5ts ,! table ( 
cont5ts = ?is ,act is z foll[s3 ,sec4   
#a4 ,%ort title2 table ( cont5ts4,,title
 ,i--,bank privacy reform,sec4 #aja4    
,bank ,secrecy ,act re=ms4,,title       
,,ii--,am5dm5ts to ! ,"r to ,f9ancial   
,privacy ,act ( #aigh,sec4 #bja4 ,w>rant
 requirem5ts & exceptions4,,title       
,,iii--,consolidat$ audit trail ,sec4   
#cja4 ,requirem5ts & prohibitions reg>d+
 ! ,consolidat$ ,audit ,trail4,,title   
,,iv--,no c5tral bank digital           
currency,sec4 #dja4 ,c5tral bank digital

 curr5cy4,,title ,v--,regulations f !   
executive 9 ne$ ( scrutiny,sec4 #eja4   
,purpose4,sec4 #ejb4 ,congressional     
review ( c]ta9 ag5cy rulemak+4,sec4     
#ejc4 ,budget>y effects ( rules subject 
to section #hjb ( title #e1 ,unit$      
,/ates ,code4,sec4 #ejd4 ,gov]nm5t      
,acc\ntability ,(fice /udy (            
rules4,,title ,,vi--,suspici\s          
activity,sec4 #fja4 ,crim9al            
p5alties4,sec4 #fjb4 ,civil             
p5alties4,sec4 #fjc4 ,o!r relief4,,title
 ,,vii--,/opp+ ! nosy obsession ) onl9e 
payments,sec4 #gja4 ,repeal (           
modification ( exceptions = report+ (   
?ird p>ty network transactions4,,title  
,,viii--,prohibition on re/rictions     
relat+ to conv]tible virtual curr5cy    
,sec4 #hja4 ,%ort title4,sec4 #hjb4     
,prohibition on re/rict+ use (          
conv]tible virtual curr5cy by a p]son to
 pur*ase goods or s]vices = ! p]son's   
own use4  ,i ,bank privacy re=m  #aja4  
,bank ,secrecy ,act re=ms  7a7 ,"r to   
,f9ancial ,privacy ,act ( #aigh ,! ,"r  

to ,f9ancial ,privacy ,act ( #aigh 7#ab 
,u4,s4,c4 #cdja et seq47 is am5d$-- 7#a7
 by am5d+ section #aajb 7#ab ,u4,s4,c4  
#cdjb7 to read z foll[s3  #aajb4        
,confid5tiality ( records--,gov]nm5t    
au?orities ,except z provid$ by         
subsection 7c7 or 7d7 ( section #aajc or
 section #aaac1 no ,gov]nm5t au?ority   
may h access to or obta9 copies (1 or ! 
in=mation conta9$ 9 ! f9ancial records (
 any cu/om] f a f9ancial in/itution     
unless ! f9ancial records are reasonably
 describ$ & su* f9ancial records are    
disclos$ 9 response to a se>* w>rant :i*
 meets ! requirem5ts ( section #aajf4  2
  7#b7 by /rik+ sections #aajd 7#ab     
,u4,s4,c4 #cdjd71 #aaje 7#ab ,u4,s4,c4  
#cdje71 #aajg 7#ab ,u4,s4,c4 #cdjg71 &  
#aajh 7#ab ,u4,s4,c4 #cdjh72 &  7#c7 9  
section #aaji7;a7 7#ab ,u4,s4,c4        
#cdji7;a771 by /rik+ section #aajd7;c71 
#aaje7b71 #aajf7;c71 #aajg7b71 #aajh7d71
 & ins]t+ section #aajf7;c74  7b7 ,title
 #ca ,*apt] #ec ( title #ca1 ,unit$     
,/ates ,code1 is am5d$-- 7#a7 by am5d+  

section #ecaa to read z foll[s3  #ecaa4 
,decl>ation ( purpose ,x is ! purpose ( 
?is sub*apt] to require f9ancial        
in/itutions to reta9 transaction records
 t include in=mation id5tifi$ ) or      
id5tifiable z be+ d]iv$ f ! f9ancial    
records ( p>ticul> cu/om]s4  2  7#b7 9  
section #ecab7;a7-- 7,a7 9 p>agraph     
7#b71 by repeal+ subp>agraphs 7,o71     
7,q71 7,s71 7,t71 7,v71 7,y71 & 7,z72 & 
7,b7 by am5d+ p>agraph 7#d7 to read z   
foll[s3  7#d7 nonf9ancial trade or      
bus9ess means any entity engag$ 9 trade 
or bus9ess o!r ?an a f9ancial           
in/itution4  2  7#c7 by /rik+ sections  
#ecac1 #ecad1 #ecae1 #ecaf1 #ecag1      
#ecah;,a1 #ecbd1 #ecbf1 #ecca1 #eccb1 & 
#eccf2  7#d7 9 section #ecah-- 7,a7 9   
subsection 7a7-- 7i7 9 ! matt] prec$+   
p>agraph 7#a71 by /rik+ 7except "u      
section #ecae ( ?is title & regulations 
prescrib$ "u section #ecae72  7ii7 by   
/rik+ p>agraph 7#b72 &  7iii7 by        
r$esignat+ p>agraphs 7#c7 ?r\gh 7#g7 z  
p>agraphs 7#b7 ?r\gh 7#f71 respectively2

 &  7,b7 9 subsection 7k7-- 7i7 9       
p>agraph 7#a77;,c71 by /rik+ has ! same 
mean+ z 9 section #ecah;,a7e77#a77;,b7 &
 ins]t+ means an acc\nt e/abli%$ to     
receive deposits f1 make paym5ts on     
behalf ( a =eign f9ancial in/itution1 or
 h&le o!r f9ancial transactions relat$  
to su* in/itution2 &  7ii7 9 p>agraph   
7#c77;,a77i7-- 7,i7 9 subclause 7,,ii71 
by add+ or at ! end2  7,,ii7 9 subclause
 7,,iii71 by /rik+ 2 or & ins]t+ a      
p]iod2 &  7,,iii7 by /rik+ subclause    
7,,iv72  7#e7 9 section #ecba-- 7,a7 9  
subsection 7a7-- 7i7 9 p>agraph 7#a71 by
 /rik+ 7except sections #ecad1 #ecae1 & 
#eccf ( ?is title or a regulation       
prescrib$ "u sections #ecad1 #ecae1 &   
#eccf72  7ii7 by /rik+ p>agraphs 7#b71  
7#c71 7#d71 & 7#e72  7iii7 9 p>agraph   
7#f71 by /rik+ 7except section #eccf7   
ea* place t t]m appe>s2  7iv7 9 p>agraph
 7#g71 by /rik+ or any special measures 
impos$ "u section #ecah;,a2 &  7v7 by   
r$esignat+ p>agraphs 7#f7 & 7#g7 z      
p>agraphs 7#b7 & 7#c71 respectively2    

7,b7 by /rik+ subsection 7c72 &  7,c7 by
 r$esignat+ subsections 7d7 ?r\gh 7g7 z 
subsection 7c7 ?r\gh 7f71 respectively2 
7#f7 9 section #ecbb-- 7,a7 by /rik+    
7except section #ecae1 #ecbd1 or #eccf (
 ?is title or a regulation prescrib$ "u 
section #ecae1 #ecbd1 or #eccf7 ea*     
place t t]m appe>s2 &  7,b7 9 subsection
 7d7-- 7i7 by /rik+ 1 or any special    
measures impos$ "u section #ecah;,a12 & 
7ii7 by /rik+ or section #ecah;,a2  7#g7
 9 section #ecbe7;a71 9 ! matt] prec$+  
p>agraph 7#a71 by ins]t+ aft] #c1jjj !  
foll[+3 7z su* am\nt is annually adju/$ 
by ! ,secret>y to reflect ! p]c5tage    
*ange 9 ! ,consum] ,price ,index = ,all 
,urban ,consum]s publi%$ by ! ,bureau ( 
,labor ,/ati/ics ( ! ,dep>tm5t (        
,labor72  7#h7 9 section #eccj7;d77#a7--
 7,a7 9 subp>agraph 7,a71 by add+ & at !
 end2  7,b7 by /rik+ subp>agraph 7,b72 &
  7,c7 by r$esignat+ subp>agraph 7,c7 z 
subp>agraph 7,b72  7#i7 9 section       
#ecce-- 7,a7 by /rik+ subsection 7c72 & 
7,b7 by r$esignat+ subsections 7d7 & 7e7

 z subsections 7c7 & 7d71 respectively2 
7#aj7 by /rik+ sub*apt] ,,iii2 &  7#aa7 
9 ! table ( cont5ts = *apt] #ec1 by     
/rik+ ! items relat+ to-- 7,a7 sections 
#ecac1 #ecad1 #ecae1 #ecaf1 #ecag1      
#ecah;,a1 #ecbd1 #ecbf1 #ecca1 #eccb1 & 
#eccf2 &  7,b7 sub*apt] ,,iii4  ,,ii    
,am5dm5ts to ! ,"r to ,f9ancial ,privacy
 ,act ( #aigh  #bja4 ,w>rant requirem5ts
 & exceptions ,! ,"r to ,f9ancial       
,privacy ,act ( #aigh 7#ab ,u4,s4,c4    
#cdja et seq47 is am5d$-- 7#a7 9 section
 #aajh 7#ab ,u4,s4,c4 #cdjh7-- 7,a7 by  
/rik+ p>agraph 7#b72 &  7,b7 by         
r$esignat+ p>agraphs 7#c7 & 7#d7 z      
p>agraphs 7#b7 & 7#c71 respectively2 &  
7#b7 9 section #aaac 7#ab ,u4,s4,c4     
#cdac7-- 7,a7 by repeal+ subsections    
7a71 7d71 7e71 7f71 7g71 7i71 7l71 7m71 
7n71 7p71 7q71 & 7r72 &  7,b7 by add+ at
 ! end ! foll[+3  7s7 ,access ( records 
7#a7 ,9 g5]al ,not)/&+ any o!r provision
 ( ?is title1 ! ,f$]al ,gov]nm5t may n  
access ! f9ancial records or in=mation (
 an individual 9 a mann] t is prohibit$ 

by ! ,f\r? ,am5dm5t to ! ,con/itution ( 
! ,unit$ ,/ates ) respect to ! records  
or in=mation 9 "q4  7#b7 ,aid 9 /atutory
 con/ruction ,x is ! s5se ( ,congress t1
 ?r\gh ! enactm5t ( ?is title1 ,congress
 has e/abli%$ a /atutory "r t ensures t 
! expectation ( privacy t ! p ( ! ,unit$
 ,/ates h ) respect to f9ancial records 
is protect$4  4  ,,iii ,consolidat$     
audit trail  #cja4 ,requirem5ts &       
prohibitions reg>d+ ! ,consolidat$      
,audit ,trail  7a7 ,def9itions ,9 ?is   
section3 7#a7 ,commission ,! t]m        
,commission means ! ,securities &       
,ex*ange ,commission4  7#b7 ,consolidat$
 ,audit ,trail ,! t]m ,consolidat$      
,audit ,trail means ! consolidat$ audit 
trail & c5tral repository creat$1       
implem5t$1 & ma9ta9$ pursuant to section
 #bdb4fac ( title #ag1 ,code ( ,f$]al   
,regulations1 z 9 effect on ! day be=e !
 date ( enactm5t ( ?is ,act4  7#c7      
,p]sonally id5tifiable in=mation ,! t]m 
p]sonally id5tifiable in=mation-- 7,a7  
means in=mation t c be us$ to di/+ui% or

 trace ! id5tity ( an individual1 ei!r  
alone or :5 comb9$ ) o!r p]sonal or     
id5tify+ in=mation t is l9k$ or l9kable 
to a specific individual1 includ+ ! "n1 
address1 date or ye> ( bir?1 ,social    
,security numb]1 telephone numb]1 email1
 or ,,ip-address ( an individual2 &     
7,b7 does n include a ,,cat-,ord]-,,id  
or ,,cat-,report]-,,id1 z ^? t]ms are   
def9$ 9 section #bdb4fac7;j7 ( title    
#ag1 ,code ( ,f$]al ,regulations 7or any
 successor regulation74  7#d7           
,self-regulatory organization ,! t]m    
self-regulatory organization has ! mean+
 giv5 ! t]m 9 section #c7;a7 ( !        
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gh;c7a774  7b7 ,requirem5t ,!
 ,commission %all-- 7#a7 n lat] ?an #cj 
days aft] ! date ( enactm5t ( ?is ,act1 
& not)/&+ any o!r provision ( law or    
regulation1 t]m9ate ! ,consolidat$      
,audit ,trail2 &  7#b7 n lat] t #abj    
days aft] ! date ( enactm5t ( ?is ,act1 
am5d any regulation1 no action lett]1   
int]pretive lett]1 exemptive lett]1     

legal bullet91 or o!r guidance ( !      
,commission to con=m to ! requirem5ts ( 
?is section4  7c7 ,prohibitions ,on &   
aft] ! date t ! ,commission c>ries out !
 t]m9ation requir$ "u subsection        
7b77#a7-- 7#a7 nei!r ! ,commission nor  
any self-regulatory organization may    
adm9i/] ! ,consolidat$ ,audit ,trail2 & 
7#b7 no ,f$]al ag5cy may e/abli% any    
consolidat$ audit trail1 c5tral         
repository1 or o!r c5traliz$ database t 
collects p]sonally id5tifiable in=mation
 ( citiz5s ( ! ,unit$ ,/ates1 unless a  
duly enact$ law ( ! ,unit$ ,/ates       
specifically provides ! ,f$]al ag5cy ) !
 au?ority to take t action4  7d7        
,reimbursem5t ( fees ,n lat] ?an #a ye> 
aft] ! date ( enactm5t ( ?is ,act1      
,consolidat$ ,audit ,trail1 ,,llc &     
,,f9ra ,,cat1 ,,llc %all reimburse all  
fees collect$ by ^? entities be=e t date
 to c>ry out ! ,consolidat$ ,audit      
,trail4  ,,iv ,no c5tral bank digital   
curr5cy  #dja4 ,c5tral bank digital     
curr5cy ,section #ac ( ! ,f$]al ,res]ve 

,act is am5d$ by add+ aft] ! #ad?       
undesignat$ p>agraph 7#ab ,u4,s4,c4     
#cdg;d7 ! foll[+3  ,no ,f$]al res]ve    
bank1 ! ,bo>d1 ! ,secret>y ( !          
,treasury1 any o!r ag5cy1 or any entity 
direct$ to act on behalf ( ! ,f$]al     
res]ve bank1 ! ,bo>d1 ! ,secret>y1 or   
o!r ag5cy1 may m9t or issue a c5tral    
bank digital curr5cy directly to an     
individual 7includ+ a c5tral bank       
digital curr5cy issu$ to an individual  
?r\gh a cu/odial int]m$i>y7 or a digital
 curr5cy int]m$i>y1 (f] relat$ products 
or s]vices directly to an individual1 or
 ma9ta9 an acc\nt on behalf ( an        
individual 7includ+ an acc\nt 9 a       
specially designat$ acc\nt at a digital 
curr5cy int]m$i>y or sup]vis$ comm]cial 
bank74 ,no ,f$]al res]ve bank may hold  
digital curr5cies m9t$ or issu$ by !    
,unit$ ,/ates ,gov]nm5t z assets or     
liabilities on a balance %eet ( ! bank  
or use su* digital curr5cies z "p (     
fulfill+ ! requirem5ts "u section #b;,a4
  4  ,v ,regulations f ! executive 9 ne$

 ( scrut9y  #eja4 ,purpose ,! purpose ( 
?is title is to increase acc\ntability =
 & transp>5cy 9 ! ,f$]al regulatory     
process4 ,section #a ( article ,i ( !   
,unit$ ,/ates ,con/itution grants all   
legislative p[]s to ,congress4 ,ov] "t1 
,congress has excessively delegat$ its  
con/itutional *>ge :ile fail+ to conduct
 appropriate ov]sight & reta9           
acc\ntability = ! cont5t ( ! laws x     
passes4 ,by requir+ a vote 9 ,congress1 
! ,,re9s ,act w result 9 m c>efully     
draft$ & detail$ legislation1 an improv$
 regulatory process1 & a legislative    
bran* t is truly acc\ntable to !        
,am]ican p = ! laws impos$ ^u !m4  #ejb4
 ,congressional review ( c]ta9 ag5cy    
rulemak+  7a7 ,9 g5]al ,*apt] #h ( title
 #e1 ,unit$ ,/ates ,code1 is am5d$ to   
read z foll[s3  #h ,congressional       
,review ( ,c]ta9 ,ag5cy ,rulemak+  ,sec4
 #hja4 ,congressional review4 #hjb4     
,congressional approval proc$ure = major
 rules4 #hjc4 ,congressional disapproval
 proc$ure = nonmajor rules4 #hjd4       

,def9itions4 #hje4 ,judicial review4    
#hjf4 ,exemption = monet>y policy4 #hjg4
 ,effective date ( c]ta9 rules4#hjh4    
,review ( rules curr5tly 9 effect4      
#hja4 ,congressional review  7a7 7#a7   
7,a7 ,be=e a rule may take effect1 !    
,f$]al ag5cy promulgat+ su* rule %all   
publi% 9 ! ,f$]al ,regi/] a li/ (       
in=mation on :i* ! rule is bas$1 includ+
 data1 sci5tific & economic /udies1 &   
co/-b5efit analyses1 & id5tify h[ !     
public c access su* in=mation onl9e1 &  
%all submit to ea* ,h\se ( ! ,congress &
 to ! ,comptroll] ,g5]al a report       
conta9+-- 7i7 a copy ( ! rule2  7ii7 a  
concise g5]al /atem5t relat+ to ! rule2 
7iii7 a f9d+1 r5d]$ 9 consultation ) !  
,adm9i/rator ( ! ,(fice ( ,in=mation &  
,regulatory ,affairs ( ! ,(fice (       
,managem5t & ,budget1 :e!r ! rule is a  
major or nonmajor rule1 includ+ an      
explanation ( ! f9d+ specifically       
address+ ea* crit]ia = a major rule     
conta9$ )9 subp>agraphs 7,a7 ?r\gh 7,c7 
( section #hjd7b72  7iv7 a li/ ( any o!r

 relat$ regulatory actions int5d$ to    
implem5t ! same /atutory provision or   
regulatory objective z well z !         
individual & aggregate economic effects 
( ^? actions2  7v7 ! propos$ effective  
date ( ! rule2 &  7vi7 a /atem5t ( !    
con/itutional au?ority au?oriz+ ! ag5cy 
to make ! rule4  7,b7 ,on ! date ( !    
submission ( ! report "u subp>agraph    
7,a71 ! ,f$]al ag5cy promulgat+ ! rule  
%all submit to ! ,comptroll] ,g5]al &   
make available to ea* ,h\se ( ,congress 
7& to ea* committee ( jurisdiction 9 ea*
 ,h\se7-- 7i7 a complete copy ( !       
co/-b5efit analysis ( ! rule1 if any1   
includ+ an analysis ( any jobs add$ or  
lo/1 diff]5tiat+ betwe5 public & private
 sector jobs2  7ii7 ! ag5cy's actions   
pursuant to sections #fjc1 #fjd1 #fje1  
#fjg1 & #fji ( ?is title2  7iii7 !      
ag5cy's actions pursuant to sections    
#bjb1 #bjc1 #bjd1 & #bje ( ! ,unfund$   
,m&ates ,re=m ,act ( #aiie2  7iv7 an    
e/imate ( ! effect on inflation ( !     
rule2 &  7v7 any o!r relevant in=mation 

or requirem5ts "u any o!r ,act & any    
relevant ,executive ord]s4  7,c7 ,^u    
receipt ( a report submitt$ "u          
subp>agraph 7,a71 ea* ,h\se %all provide
 copies ( ! report to ! *airman & rank+ 
memb] ( ea* /&+ committee ) jurisdiction
 "u ! rules ( ! ,h\se ( ,repres5tatives 
or ! ,s5ate to report a bill to am5d !  
provision ( law "u :i* ! rule is issu$4 
7,d7 ,if reque/$ 9 writ+ by a memb] (   
,congress-- 7i7 ! ,comptroll] ,g5]al    
%all make a det]m9ation :e!r an ag5cy   
action qualifies z a rule = purposes (  
?is *apt]1 & %all submit to ,congress   
?is det]m9ation n lat] ?an #fj days aft]
 ! date ( ! reque/2 &  7ii7 !           
,comptroll] ,g5]al1 9 consultation ) !  
,director ( ! ,congressional ,budget    
,(fice1 %all make a det]m9ation :e!r a  
rule is consid]$ a major rule "u !      
provisions ( ?is act1 & %all submit to  
,congress ?is det]m9ation n lat] ?an #ij
 days aft] ! date ( ! reque/4  ,=       
purposes ( ?is section1 a det]m9ation "u
 ?is subp>agraph %all be deem$ to be a  

report "u subp>agraph 7,a74  7#b7 7,a7  
,! ,comptroll] ,g5]al %all provide a    
report on ea* major rule to ! committees
 ( jurisdiction by ! end ( #ae cal5d>   
days aft] ! submission or publication   
date4 ,! report ( ! ,comptroll] ,g5]al  
%all include an assessm5t ( ! ag5cy's   
compliance ) proc$ural /eps requir$ by  
p>agraph 7#a77;,b7 & an assessm5t ( :e!r
 ! major rule imposes any new limits or 
m&ates on private-sector activity4  7,b7
 ,f$]al ag5cies %all coop]ate ) !       
,comptroll] ,g5]al by provid+ in=mation 
relevant to ! ,comptroll] ,g5]al's      
report "u subp>agraph 7,a74  7#c7 ,a    
major rule relat+ to a report submitt$  
"u p>agraph 7#a7 %all take effect ^u    
enactm5t ( a jo9t resolution ( approval 
describ$ 9 section #hjb or z provid$ = 9
 ! rule foll[+ enactm5t ( a jo9t        
resolution ( approval describ$ 9 section
 #hjb1 :i*ev] is lat]4  7#d7 ,a nonmajor
 rule %all take effect z provid$ by     
section #hjc aft] submission to         
,congress "u p>agraph 7#a74  7#e7 ,if a 

jo9t resolution ( approval relat+ to a  
major rule is n enact$ )9 ! p]iod       
provid$ 9 subsection 7b77#b71 !n a jo9t 
resolution ( approval relat+ to ! same  
rule may n be consid]$ "u ?is *apt] 9 ! 
same ,congress by ei!r ! ,h\se (        
,repres5tatives or ! ,s5ate4  7b7 7#a7  
,a major rule %all n take effect unless 
! ,congress enacts a jo9t resolution (  
approval describ$ "u section #hjb4  7#b7
 ,if a jo9t resolution describ$ 9       
subsection 7a7 is n enact$ into law by !
 end ( #gj session days or legislative  
days1 z applicable1 beg9n+ on ! date on 
:i* ! report ref]r$ to 9 subsection     
7a77#a77;,a7 is receiv$ by ,congress    
7exclud+ days ei!r ,h\se ( ,congress is 
adj\rn$ = m ?an #c days dur+ a session (
 ,congress71 !n ! rule describ$ 9 t     
resolution %all be deem$ n to be approv$
 & su* rule %all n take effect4  7c7    
7#a7 ,not)/&+ any o!r provision ( ?is   
section 7except subject to p>agraph     
7#c771 a major rule may take effect = "o
 #ij-;cal5d>-day p]iod if ! ,presid5t   

makes a det]m9ation "u p>agraph 7#b7 &  
submits writt5 notice ( su* det]m9ation 
to ! ,congress4  7#b7 ,p>agraph 7#a7    
applies to a det]m9ation made by !      
,presid5t by ,executive ord] t ! major  
rule %\ld take effect because su* rule  
is-- 7,a7 necess>y because ( an imm95t  
?reat to heal? or safety or o!r em]g5cy2
  7,b7 necess>y = ! en=cem5t ( crim9al  
laws2  7,c7 necess>y = national         
security2 or  7,d7 issu$ pursuant to any
 /atute implem5t+ an int]national trade 
agreem5t4  7#c7 ,an ex]cise by !        
,presid5t ( ! au?ority "u ?is subsection
 %all h no effect on ! proc$ures "u     
section #hjb4  7d7 7#a7 ,9 addition to !
 opportunity = review o!rwise provid$ "u
 ?is *apt]1 9 ! case ( any rule = :i* a 
report 0 submitt$ 9 accordance )        
subsection 7a77#a77;,a7 dur+ ! p]iod    
beg9n+ on ! date occurr+-- 7,a7 9 ! case
 ( ! ,s5ate1 #fj session days2 or  7,b7 
9 ! case ( ! ,h\se ( ,repres5tatives1   
#fj legislative days1  be=e ! date !    
,congress is s*$ul$ to adj\rn a session 

( ,congress ?r\gh ! date on :i* ! same  
or succe$+ ,congress fir/ conv5es its   
next session1 sections #hjb & #hjc %all 
apply to su* rule 9 ! succe$+ session ( 
,congress4  7#b7 7,a7 ,9 apply+ sections
 #hjb & #hjc = purposes ( su* additional
 review1 a rule describ$ "u p>agraph    
7#a7 %all be treat$ z ?\gh-- 7i7 su*    
rule 7 publi%$ 9 ! ,f$]al ,regi/] on--  
7,i7 9 ! case ( ! ,s5ate1 ! #ae? session
 day2 or  7,,ii7 9 ! case ( ! ,h\se (   
,repres5tatives1 ! #ae? legislative day1
  aft] ! succe$+ session ( ,congress    
fir/ conv5es2 &  7ii7 a report on su*   
rule 7 submitt$ to ,congress "u         
subsection 7a77#a7 on su* date4  7,b7   
,no?+ 9 ?is p>agraph %all be con/ru$ to 
affect ! requirem5t "u subsection       
7a77#a7 t a report %all be submitt$ to  
,congress be=e a rule c take effect4    
7#c7 ,a rule describ$ "u p>agraph 7#a7  
%all take effect z o!rwise provid$ by   
law 7includ+ o!r subsections ( ?is      
section74  #hjb4 ,congressional approval
 proc$ure = major rules  7a7 7#a7 ,=    

purposes ( ?is section1 ! t]m jo9t      
resolution means only a jo9t resolution 
address+ a report classify+ a rule z    
major pursuant to section               
#hja7;a77#a77;,a77iii7 t-- 7,a7 be>s no 
preamble2  7,b7 be>s ! foll[+ title 7)  
blanks fill$ z appropriate73 ,approv+ ! 
rule submitt$ by  relat+ to 42  7,c7    
includes aft] its resolv+ clause only ! 
foll[+ 7) blanks fill$ z appropriate73  
,t ,congress approves ! rule submitt$ by
  relat+ to 42 &  7,d7 is introduc$     
pursuant to p>agraph 7#b74  7#b7 ,aft] a
 ,h\se ( ,congress receives a report    
classify+ a rule z major pursuant to    
section #hja7;a77#a77;,a77iii71 !       
majority lead] ( t ,h\se 7or 8 or h]    
respective designee7 %all introduce 7by 
reque/1 if appropriate7 a jo9t          
resolution describ$ 9 p>agraph 7#a7--   
7,a7 9 ! case ( ! ,h\se (               
,repres5tatives1 )9 #c legislative days2
 &  7,b7 9 ! case ( ! ,s5ate1 )9 #c     
session days4  7#c7 ,a jo9t resolution  
describ$ 9 p>agraph 7#a7 %all n be      

subject to am5dm5t at any /age (        
proce$+4  7b7 ,a jo9t resolution        
describ$ 9 subsection 7a7 %all be ref]r$
 9 ea* ,h\se ( ,congress to ! committees
 hav+ jurisdiction ov] ! provision ( law
 "u :i* ! rule is issu$4  7c7 ,9 !      
,s5ate1 if ! committee or committees to 
:i* a jo9t resolution describ$ 9        
subsection 7a7 has be5 ref]r$ h n       
report$ x at ! end ( #ae session days   
aft] its introduction1 su* committee or 
committees %all be automatically dis*>g$
 f fur!r consid]ation ( ! resolution & x
 %all be plac$ on ! cal5d>4 ,a vote on  
f9al passage ( ! resolution %all be tak5
 on or be=e ! close ( ! #ae? session day
 aft] ! resolution is report$ by !      
committee or committees to :i* x 0      
ref]r$1 or aft] su* committee or        
committees h be5 dis*>g$ f fur!r        
consid]ation ( ! resolution4  7d7 7#a7  
,9 ! ,s5ate1 :5 ! committee or          
committees to :i* a jo9t resolution is  
ref]r$ h report$1 or :5 a committee or  
committees are dis*>g$ 7"u subsection   

7c77 f fur!r consid]ation ( a jo9t      
resolution describ$ 9 subsection 7a71 x 
is at any "t !reaft] 9 ord] 7ev5 ?\gh a 
previ\s motion to ! same effect has be5 
disagre$ to7 = a motion to proce$ to !  
consid]ation ( ! jo9t resolution1 & all 
po9ts ( ord] aga9/ ! jo9t resolution 7& 
aga9/ consid]ation ( ! jo9t resolution7 
are waiv$4 ,! motion is n subject to    
am5dm5t1 or to a motion to po/pone1 or  
to a motion to proce$ to ! consid]ation 
( o!r bus9ess4 ,a motion to reconsid] ! 
vote by :i* ! motion is agre$ to or     
disagre$ to %all n be 9 ord]4 ,if a     
motion to proce$ to ! consid]ation ( !  
jo9t resolution is agre$ to1 ! jo9t     
resolution %all rema9 ! unf9i%$ bus9ess 
( ! ,s5ate until dispos$ (4  7#b7 ,9 !  
,s5ate1 debate on ! jo9t resolution1 &  
on all debatable motions & appeals 9    
connection !re)1 %all be limit$ to n m  
?an #b h\rs1 :i* %all be divid$ equally 
betwe5 ^? favor+ & ^? oppos+ ! jo9t     
resolution4 ,a motion to fur!r limit    
debate is 9 ord] & n debatable4 ,an     

am5dm5t to1 or a motion to po/pone1 or a
 motion to proce$ to ! consid]ation (   
o!r bus9ess1 or a motion to recommit !  
jo9t resolution is n 9 ord]4  7#c7 ,9 ! 
,s5ate1 imm$iately foll[+ ! conclusion (
 ! debate on a jo9t resolution describ$ 
9 subsection 7a71 & a s+le quorum call  
at ! conclusion ( ! debate if reque/$ 9 
accordance ) ! rules ( ! ,s5ate1 ! vote 
on f9al passage ( ! jo9t resolution %all
 occur4  7#d7 ,appeals f ! decisions ( !
 ,*air relat+ to ! application ( ! rules
 ( ! ,s5ate to ! proc$ure relat+ to a   
jo9t resolution describ$ 9 subsection   
7a7 %all be decid$ )\t debate4  7e7 ,9 !
 ,h\se ( ,repres5tatives1 if any        
committee to :i* a jo9t resolution      
describ$ 9 subsection 7a7 has be5 ref]r$
 has n report$ x to ! ,h\se at ! end (  
#ae legislative days aft] its           
introduction1 su* committee %all be     
dis*>g$ f fur!r consid]ation ( ! jo9t   
resolution1 & x %all be plac$ on !      
appropriate cal5d>4 ,on ! second & f\r? 
,?ursdays ( ea* mon? x %all be 9 ord] at

 any "t = ! ,speak] to recognize a      
,memb] :o favors passage ( a jo9t       
resolution t has appe>$ on ! cal5d> = at
 lea/ #e legislative days to call up t  
jo9t resolution = imm$iate consid]ation 
9 ! ,h\se )\t int]v5tion ( any po9t (   
ord]4 ,:5 s call$ up a jo9t resolution  
%all be consid]$ z read & %all be       
debatable = #a h\r equally divid$ &     
controll$ by ! propon5t & an oppon5t1 & 
! previ\s "q %all be consid]$ z ord]$ to
 its passage )\t int]v5+ motion4 ,x %all
 n be 9 ord] to reconsid] ! vote on     
passage4 ,if a vote on f9al passage ( ! 
jo9t resolution has n be5 tak5 by ! ?ird
 ,?ursday on :i* ! ,speak] may recognize
 a ,memb] "u ?is subsection1 su* vote   
%all be tak5 on t day4  7f7 7#a7 ,if1   
be=e pass+ a jo9t resolution describ$ 9 
subsection 7a71 "o ,h\se receives f !   
o!r a jo9t resolution hav+ ! same text1 
!n-- 7,a7 ! jo9t resolution ( ! o!r     
,h\se %all n be ref]r$ to a committee2 &
  7,b7 ! proc$ure 9 ! receiv+ ,h\se %all
 be ! same z if no jo9t resolution _h   

be5 receiv$ f ! o!r ,h\se until ! vote  
on passage1 :5 ! jo9t resolution receiv$
 f ! o!r ,h\se %all supplant ! jo9t     
resolution ( ! receiv+ ,h\se4  7#b7 ,?is
 subsection %all n apply to ! ,h\se (   
,repres5tatives if ! jo9t resolution    
receiv$ f ! ,s5ate is a rev5ue measure4 
7g7 ,if ei!r ,h\se has n tak5 a vote on 
f9al passage ( ! jo9t resolution by !   
la/ day ( ! p]iod describ$ 9 section    
#hja7;b77#b71 !n su* vote %all be tak5  
on t day4  7h7 ,?is section & section   
#hjc are enact$ by ,congress-- 7#a7 z an
 ex]cise ( ! rulemak+ p[] ( ! ,s5ate &  
,h\se ( ,repres5tatives1 respectively1 &
 z su* are deem$ to be "p ( ! rules (   
ea* ,h\se1 respectively1 b applicable   
only ) respect to ! proc$ure to be      
foll[$ 9 t ,h\se 9 ! case ( a jo9t      
resolution describ$ 9 subsection 7a7 &  
sup]s$+ o!r rules only :]e explicitly s2
 &  7#b7 ) full recognition ( !         
con/itutional "r ( ei!r ,h\se to *ange !
 rules 7s f> z !y relate to ! proc$ure (
 t ,h\se7 at any "t1 9 ! same mann] & to

 ! same ext5t z 9 ! case ( any o!r rule 
( t ,h\se4  #hjc4 ,congressional        
disapproval proc$ure = nonmajor rules   
7a7 ,= purposes ( ?is section1 ! t]m    
jo9t resolution means only a jo9t       
resolution introduc$ 9 ! p]iod beg9n+ on
 ! date on :i* ! report ref]r$ to 9     
section #hja7;a77#a77;,a7 is receiv$ by 
,congress & end+ #fj days !reaft]       
7exclud+ days ei!r ,h\se ( ,congress is 
adj\rn$ = m ?an #c days dur+ a session (
 ,congress71 ! matt] aft] ! resolv+     
clause ( :i* is z foll[s3 ,t ,congress  
disapproves ! nonmajor rule submitt$ by 
!  relat+ to  1 & su* rule %all h no =ce
 or effect4 7,! blank spaces be+        
appropriately fill$ 974  7b7 ,a jo9t    
resolution describ$ 9 subsection 7a7    
%all be ref]r$ to ! committees 9 ea*    
,h\se ( ,congress ) jurisdiction4  7c7  
,9 ! ,s5ate1 if ! committee to :i* is   
ref]r$ a jo9t resolution describ$ 9     
subsection 7a7 has n report$ su* jo9t   
resolution 7or an id5tical jo9t         
resolution7 at ! end ( #ae session days 

aft] ! date ( introduction ( ! jo9t     
resolution1 su* committee may be dis*>g$
 f fur!r consid]ation ( su* jo9t        
resolution ^u a petition support$ 9     
writ+ by #cj ,memb]s ( ! ,s5ate1 & su*  
jo9t resolution %all be plac$ on !      
cal5d>4  7d7 7#a7 ,9 ! ,s5ate1 :5 !     
committee to :i* a jo9t resolution is   
ref]r$ has report$1 or :5 a committee is
 dis*>g$ 7"u subsection 7c77 f fur!r    
consid]ation ( a jo9t resolution        
describ$ 9 subsection 7a71 x is at any  
"t !reaft] 9 ord] 7ev5 ?\gh a previ\s   
motion to ! same effect has be5 disagre$
 to7 = a motion to proce$ to !          
consid]ation ( ! jo9t resolution1 & all 
po9ts ( ord] aga9/ ! jo9t resolution 7& 
aga9/ consid]ation ( ! jo9t resolution7 
are waiv$4 ,! motion is n subject to    
am5dm5t1 or to a motion to po/pone1 or  
to a motion to proce$ to ! consid]ation 
( o!r bus9ess4 ,a motion to reconsid] ! 
vote by :i* ! motion is agre$ to or     
disagre$ to %all n be 9 ord]4 ,if a     
motion to proce$ to ! consid]ation ( !  

jo9t resolution is agre$ to1 ! jo9t     
resolution %all rema9 ! unf9i%$ bus9ess 
( ! ,s5ate until dispos$ (4  7#b7 ,9 !  
,s5ate1 debate on ! jo9t resolution1 &  
on all debatable motions & appeals 9    
connection !re)1 %all be limit$ to n m  
?an #aj h\rs1 :i* %all be divid$ equally
 betwe5 ^? favor+ & ^? oppos+ ! jo9t    
resolution4 ,a motion to fur!r limit    
debate is 9 ord] & n debatable4 ,an     
am5dm5t to1 or a motion to po/pone1 or a
 motion to proce$ to ! consid]ation (   
o!r bus9ess1 or a motion to recommit !  
jo9t resolution is n 9 ord]4  7#c7 ,9 ! 
,s5ate1 imm$iately foll[+ ! conclusion (
 ! debate on a jo9t resolution describ$ 
9 subsection 7a71 & a s+le quorum call  
at ! conclusion ( ! debate if reque/$ 9 
accordance ) ! rules ( ! ,s5ate1 ! vote 
on f9al passage ( ! jo9t resolution %all
 occur4  7#d7 ,appeals f ! decisions ( !
 ,*air relat+ to ! application ( ! rules
 ( ! ,s5ate to ! proc$ure relat+ to a   
jo9t resolution describ$ 9 subsection   
7a7 %all be decid$ )\t debate4  7e7 ,9 !

 ,s5ate1 ! proc$ure specifi$ 9          
subsection 7c7 or 7d7 %all n apply to ! 
consid]ation ( a jo9t resolution        
respect+ a nonmajor rule-- 7#a7 aft] !  
expiration ( ! #fj session days beg9n+ )
 ! applicable submission or publication 
date2 or  7#b7 if ! report "u section   
#hja7;a77#a77;,a7 0 submitt$ dur+ !     
p]iod ref]r$ to 9 section #hja7;d77#a71 
aft] ! expiration ( ! #fj session days  
beg9n+ on ! #ae? session day aft] !     
succe$+ session ( ,congress fir/        
conv5es4  7f7 ,if1 be=e ! passage by "o 
,h\se ( a jo9t resolution ( t ,h\se     
describ$ 9 subsection 7a71 t ,h\se      
receives f ! o!r ,h\se a jo9t resolution
 describ$ 9 subsection 7a71 !n ! foll[+ 
proc$ures %all apply3 7#a7 ,! jo9t      
resolution ( ! o!r ,h\se %all n be      
ref]r$ to a committee4  7#b7 ,) respect 
to a jo9t resolution describ$ 9         
subsection 7a7 ( ! ,h\se receiv+ ! jo9t 
resolution-- 7,a7 ! proc$ure 9 t ,h\se  
%all be ! same z if no jo9t resolution  
_h be5 receiv$ f ! o!r ,h\se2 b  7,b7 ! 

vote on f9al passage %all be on ! jo9t  
resolution ( ! o!r ,h\se4  #hjd4        
,def9itions ,= purposes ( ?is *apt]3    
7#a7 ,! t]m ,f$]al ag5cy means-- 7,a7 ! 
,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve    
,sy/em2  7,b7 ! ,securities & ,ex*ange  
,commission2  7,c7 ! ,commodity ,futures
 ,trad+ ,commission2  7,d7 ! ,f$]al     
,deposit ,insurance ,corporation2  7,e7 
! ,bureau ( ,consum] ,f9ancial          
,protection2  7,f7 ! ,dep>tm5t ( !      
,treasury1 includ+ ! ,(fice ( !         
,comptroll] ( ! ,curr5cy & ! ,f9ancial  
,crimes ,en=cem5t ,network2 or  7,g7 !  
,national ,cr$it ,union ,adm9i/ration4  
7#b7 ,! t]m major rule means any rule1  
includ+ an int]im f9al rule1 t !        
,adm9i/rator ( ! ,(fice ( ,in=mation &  
,regulatory ,affairs ( ! ,(fice (       
,managem5t & ,budget or ! ,f$]al ag5cy  
promulgat+ su* rule f9ds has result$ 9  
or is likely to result 9-- 7,a7 an      
annual effect on ! economy ( #ajj       
million or m2  7,b7 a major increase 9  
co/s or prices = consum]s1 individual   

indu/ries1 ,f$]al1 ,/ate1 or local      
gov]nm5t ag5cies1 or geographic regions2
  7,c7 significant adv]se effects on    
competition1 employm5t1 inve/m5t1       
productivity1 innovation1 or ! ability (
 ,unit$ ,/ates-bas$ ent]prises to       
compete ) =eign-bas$ ent]prises 9       
dome/ic & export m>kets2 or  7,d7 9 an  
increase 9 m&atory vacc9ations4  7#c7 ,!
 t]m nonmajor rule means any rule t is n
 a major rule4  7#d7 ,! t]m rule has !  
mean+ giv5 ! t]m 9 section #eea1 except 
t ! t]m-- 7,a7 includes int]pretative   
rules1 g5]al /atem5ts ( policy1 & all   
o!r ag5cy guidance docum5ts2 &  7,b7    
does n include-- 7i7 any rule ( p>ticul>
 applicability1 includ+ a rule t        
approves or prescribes = ! future rates1
 wages1 prices1 s]vices1 or all[ances   
!re=e1 corporate or f9ancial /ructures1 
reorganizations1 m]g]s1 or acquisitions 
!re(1 or acc\nt+ practices or           
disclosures be>+ on any ( ! =ego+2  7ii7
 any rule relat+ to ag5cy managem5t or  
p]sonnel2 or  7iii7 any rule ( ag5cy    

organization1 proc$ure1 or practice t   
does n sub/antially affect ! rights or  
obligations ( non-ag5cy p>ties4  7#e7 ,!
 t]m submission or publication date1    
except z o!rwise provid$ 9 ?is *apt]1   
means-- 7,a7 9 ! case ( a major rule1 ! 
date on :i* ! ,congress receives !      
report submitt$ "u section #hja7;a77#a72
 &  7,b7 9 ! case ( a nonmajor rule1 !  
lat] (-- 7i7 ! date on :i* ! ,congress  
receives ! report submitt$ "u section   
#hja7;a77#a72 &  7ii7 ! date on :i* !   
nonmajor rule is publi%$ 9 ! ,f$]al     
,regi/]1 if s publi%$4  #hje4 ,judicial 
review  7a7 ,9 g5]al ,no det]m9ation1   
f9d+1 action1 or omission "u ?is *apt]  
%all be subject to judicial review4  7b7
 ,exception ,not)/&+ subsection 7a71 a  
c\rt may det]m9e :e!r a ,f$]al ag5cy has
 complet$ ! necess>y requirem5ts "u ?is 
*apt] = a rule to take effect4  7c7     
,rule ( con/ruction ,! enactm5t ( a jo9t
 resolution ( approval "u section #hjb  
%all n be int]pret$ to s]ve z a grant or
 modification ( /atutory au?ority by    

,congress = ! promulgation ( a rule1    
%all n ext+ui% or affect any claim1 :e!r
 sub/antive or proc$ural1 aga9/ any     
alleg$ defect 9 a rule1 & %all n =m "p (
 ! record be=e ! c\rt 9 any judicial    
proce$+ conc]n+ a rule except = purposes
 ( det]m9+ :e!r or n ! rule is 9 effect4
  #hjf4 ,exemption = monet>y policy     
,no?+ 9 ?is *apt] %all apply to rules t 
conc]n monet>y policy propos$ or        
implem5t$ by ! ,bo>d ( ,gov]nors ( !    
,f$]al ,res]ve ,sy/em or ! ,f$]al ,op5  
,m>ket ,committee4  #hjg4 ,effective    
date ( c]ta9 rules ,not)/&+ section     
#hja-- 7#a7 any rule t e/abli%es1       
modifies1 op5s1 closes1 or conducts a   
regulatory program = a comm]cial1       
recreational1 or subsi/5ce activity     
relat$ to hunt+1 fi%+1 or camp+2 or     
7#b7 any rule o!r ?an a major rule :i*  
an ag5cy = good cause f9ds 7&           
incorporates ! f9d+ & a brief /atem5t ( 
reasons !re=e 9 ! rule issu$7 t notice &
 public proc$ure !reon are              
impracticable1 unnecess>y1 or contr>y to

 ! public int]e/1  %all take effect at  
su* "t z ! ,f$]al ag5cy promulgat+ !    
rule det]m9es4  #hjh4 ,review ( rules   
curr5tly 9 effect  7a7 ,annual review   
,beg9n+ on ! date t is #ahj days aft] ! 
date ( enactm5t ( ?is section1 &        
annually !reaft] = ! #d ye>s foll[+1 ea*
 ag5cy %all designate n less ?an #bj    
p]c5t ( eligible rules made by t ag5cy =
 review & %all submit a report includ+  
ea* su* eligible rule 9 ! same mann] z a
 report "u section #hja7;a77#a74        
,sections #hja1 #hjb1 & #hjc %all apply 
to ea* su* rule1 subject to subsection  
7c7 ( ?is section4 ,no eligible rule    
previ\sly designat$ may be designat$    
aga94  7b7 ,sunset = eligible rules n   
ext5d$ ,beg9n+ aft] ! date t is #e ye>s 
aft] ! date ( enactm5t ( ?is section1 if
 ,congress has n enact$ a jo9t          
resolution ( approval = t eligible rule1
 t eligible rule %all n cont9ue 9       
effect4  7c7 ,approval ( ,rules  7#a7 ,9
 g5]al ,unless ,congress approves all   
eligible rules designat$ by executive   

ag5cies = review )9 #ij days (          
designation1 !y %all h no effect4  7#b7 
,=matt+ ,a s+le jo9t resolution (       
approval %all apply to all eligible     
rules 9 a report designat$ = a ye> z    
foll[s3 ,t ,congress approves ! rules   
submitt$ by ! = ! ye> 4 7,! blank spaces
 be+ appropriately fill$ 974  7#c7      
,proc$ure ,a memb] ( ei!r ,h\se may move
 t a sep>ate jo9t resolution be requir$ 
= a specifi$ rule4  7d7 ,def9ition ,9   
?is section1 ! t]m eligible rule means a
 rule t is 9 effect z ( ! date (        
enactm5t ( ?is section4  4  7b7         
,te*nical & con=m+ am5dm5t ,! *apt]     
head+ = *apt] #h ( title #e1 ,unit$     
,/ates ,code1 is am5d$ by ins]t+ c]ta9  
aft] (4  #ejc4 ,budget>y effects ( rules
 subject to section #hjb ( title #e1    
,unit$ ,/ates ,code ,section            
#beg7;b77#b7 ( ! ,balanc$ ,budget &     
,em]g5cy ,deficit ,control ,act ( #aihe 
7#b ,u4,s4,c4 #ijg7;b77#b77 is am5d$ by 
add+ at ! end ! foll[+ new subp>agraph3 
7,e7 ,budget>y effects ( rules subject  

to section #hjb ( title #e1 ,unit$      
,/ates ,code ,any rule subject to !     
congressional approval proc$ure set =? 9
 section #hjb ( *apt] #h ( title #e1    
,unit$ ,/ates ,code1 affect+ budget     
au?ority1 outlays1 or receipts %all be  
assum$ to be effective unless x is n    
approv$ 9 accordance ) su* section4  4  
#ejd4 ,gov]nm5t ,acc\ntability ,(fice   
/udy ( rules  7a7 ,9 g5]al ,!           
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all conduct a /udy to det]m9e1 z ( !   
date ( ! enactm5t ( ?is ,act-- 7#a7 h[  
_m rules 7z t t]m is def9$ 9 section    
#hjd ( title #e1 ,unit$ ,/ates ,code1 z 
add$ by ?is title7 7 9 effect2  7#b7 h[ 
_m major rules 7z t t]m is def9$ 9      
section #hjd ( title #e1 ,unit$ ,/ates  
,code1 z add$ by ?is title7 7 9 effect2 
&  7#c7 ! total e/imat$ economic co/    
impos$ by all su* rules4  7b7 ,report ,n
 lat] ?an #a ye> aft] ! date ( enactm5t 
( ?is ,act1 ! ,comptroll] ,g5]al ( !    
,unit$ ,/ates %all submit to ,congress1 
& publi% on ! website ( ! ,gov]nm5t     

,acc\ntability ,(fice1 a report t       
conta9s ! f9d+s ( ! /udy conduct$ "u    
subsection 7a74  ,,vi ,suspici\s        
activity  #fja4 ,crim9al p5alties ,! ,"r
 to ,f9ancial ,privacy ,act ( #aigh 7#ab
 ,u4,s4,c4 #cdja et seq47 is am5d$ by   
ins]t+ aft] section #aaaf 7#ab ,u4,s4,c4
 #cdaf7 ! foll[+3  #aaaf;,a4 ,crim9al   
p5alties  7a7 ,except z provid$ 9       
subsection 7b71 any ag5cy or dep>tm5t ( 
! ,unit$ ,/ates or f9ancial in/itution  
kn[+ly obta9+ or kn[+ly disclos+        
f9ancial records or in=mation conta9$   
!re9 9 violation ( ?is title %all be f9$
 9 any am\nt n exce$+ #e1jjj1 or        
imprison$ n m ?an #e ye>s1 or bo?1      
toge!r ) ! co/s ( prosecution1 & if su* 
(f5se is committ$ by any (fic] or       
employee ( ! ,unit$ ,/ates1 ! (fic] or  
employee %all1 9 addition to any o!r    
puni%m5t1 be dismiss$ f (fice or dis*>g$
 f employm5t ^u conviction = su* (f5se4 
7b7 ,any f9ancial in/itution or ag5t or 
employee !re( mak+ a disclosure (       
f9ancial records pursuant to ?is title 9

 good-fai? reliance ^u a c]tificate by  
any ,gov]nm5t au?ority or pursuant to ! 
provisions ( section #aaac7l7 %all n be 
subject to prosecution "u subsection    
7a74  4  #fjb4 ,civil p5alties ,section 
#aaag7;a7 ( ! ,"r to ,f9ancial ,privacy 
,act ( #aigh 7#ab ,u4,s4,c4 #cdag7;a77  
is am5d$ by /rik+ p>agraphs 7#a7 ?r\gh  
7#d7 & ins]t+ ! foll[+3  7#a7 n less ?an
 #a1jjj p] violation p] day2  7#b7      
reasonable attorney's fees & litigation 
co/s2 &  7#c7 comp5satory damages4  4   
#fjc4 ,o!r relief ,! ,"r to ,f9ancial   
,privacy ,act ( #aigh 7#ab ,u4,s4,c4    
#cdja et seq47 is am5d$ by ins]t+ aft]  
section #aaah 7#ab ,u4,s4,c4 #cdah7 !   
foll[+3  #aaah;,a4 ,o!r relief ,9       
addition to any o!r rem$y conta9$ 9 ?is 
title1 a writ ( m&amus & all o!r        
appropriate relief1 includ+ any         
equitable or decl>atory relief1 %all be 
available to require t ! proc$ures ( ?is
 title are compli$ )4  4  ,,vii ,/opp+ !
 nosy obsession ) onl9e paym5ts  #gja4  
,repeal ( modification ( exceptions =   

report+ ( ?ird p>ty network transactions
  7a7 ,9 g5]al ,section #fjej,w7e7 ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  7e7 ,exception = de  
m9imis paym5ts by ?ird p>ty settlem5t   
organizations ,a ?ird p>ty settlem5t    
organization %all be requir$ to report  
any in=mation "u subsection 7a7 )       
respect to ?ird p>ty network            
transactions ( any p>ticipat+ payee only
 if-- 7#a7 ! am\nt :i* w\ld o!rwise be  
report$ "u subsection 7a77#b7 ) respect 
to su* transactions exce$s #bj1jjj1 &   
7#b7 ! aggregate numb] ( su*            
transactions exce$s #bjj4  4  7b7       
,con=m+ am5dm5t ,section #fjej,w7c77#c7 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$ by /rik+ describ$ 9 subsection    
7d77#c77;,a77iii74  7c7 ,effective date 
7#a7 ,9 g5]al ,! am5dm5t made by        
subsection 7a7 %all apply to returns =  
cal5d> ye>s beg9n+ aft] ,decemb] #ca1   
#bjba4  7#b7 ,cl>ification ,! am5dm5t   
made by subsection 7b7 %all apply to    
transactions aft] ! date ( ! enactm5t ( 

! ,am]ican ,rescue ,plan ,act ( #bjba4  
,,viii ,prohibition on re/rictions      
relat+ to conv]tible virtual curr5cy    
#hja4 ,%ort title ,?is title may be cit$
 z ! ,keep ,y\r ,co9s ,act4  #hjb4      
,prohibition on re/rict+ use (          
conv]tible virtual curr5cy by a p]son to
 pur*ase goods or s]vices = ! p]son's   
own use  7a7 ,9 g5]al ,no ,f$]al ag5cy  
head may prohibit or o!rwise re/rict !  
ability ( a cov]$ us] to-- 7#a7 use     
virtual curr5cy or its equival5t = su*  
us]'s own purposes1 su* z to pur*ase    
real or virtual goods & s]vices = !     
us]'s own use2 or  7#b7 conduct         
transactions ?r\gh a self-ho/$ wallet4  
7b7 ,def9itions ,9 ?is section3 7#a7    
,conv]tible virtual curr5cies ,! t]m    
conv]tible virtual curr5cies means a    
m$ium ( ex*ange t-- 7,a7 has an         
equival5t value z curr5cy 7z def9$ 9    
section #ajaj4ajj ( title #ca1 ,code (  
,f$]al ,regulations 7or successor       
regulations772 or  7,b7 acts z a        
sub/itute = curr5cy b may n possess all 

! attributes 7includ+ legal t5d] /atus7 
specifi$ "u su* section #ajaj4ajj4  7#b7
 ,cov]$ us] ,! t]m cov]$ us] means a    
p]son t obta9s conv]tible virtual       
curr5cy to pur*ase goods or s]vices on t
 p]son's own behalf1 )\t reg>d to !     
me?od 9 :i* su* cov]$ us] obta9$ su*    
conv]tible virtual curr5cy4  7#c7       
,self-ho/$ wallet ,! t]m self-ho/$      
wallet means an int]face-- 7,a7 us$ to  
secure & transf] conv]tible virtual     
curr5cy2 &  7,b7 "u :i* ! own] (        
conv]tible virtual curr5cy reta9s       
indep5d5t control ov] su* conv]tible    
virtual curr5cy t is secur$ by su*      
digital int]face4