Top Legislation - View All

Latest Action: 02/08/2007 - Signed by President.

Bill Text
To provide a new effective date for the applicability of certain provisions of law to Public Law 105-331.

2/8/2007--Public Law.    (There are 2 other summaries)

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Revises the effective date for mandatory deposit in the Treasury as miscellaneous receipts of any amount derived from proceeds of the surcharge on the sale of the Thomas Alva Edison Commemorative Coin, under the Thomas Alva Edison Commemorative Coin Act, which remains unpaid to a designated recipient organization solely by reason of a specified matching fund requirement.

Postpones the effective date of such requirement until July 1, 2007.

Latest Action: 03/23/2007 - Referred to the Subcommittee on Information Policy, Census, and National Archives.

Bill Text
To increase the security of sensitive data maintained by the Federal Government.

1/17/2007--Introduced.

Federal Agency Data Privacy Protection Act - Sets forth requirements: (1) for the use of encryption for sensitive data maintained by the federal government; (2) relating to access by agency personnel to sensitive data; and (3) relating to government contractors and their employees involving sensitive data.

Latest Action: 05/22/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To amend the Federal Deposit Insurance Act to establish industrial bank holding company regulation, and for other purposes. 5/21/2007--Passed House amended.    (There are 2 other summaries) Industrial Bank Holding Company Act of 2007 - Amends the Federal Deposit Insurance Act (FDIA) to apply the bank share or asset acquisition requirements of the Bank Holding Company Act of 1956 to any company that is or would become an industrial bank holding company. States that an application filed to acquire control of an industrial bank shall be treated as an application for a deposit facility. Subjects an industrial bank to Federal Deposit Insurance Corporation (FDIC) requirements regarding registration, reporting, and bank examinations. Authorizes the FDIC to accept reports that an industrial bank holding company or its subsidiary has provided to another federal or state supervisor or to any appropriate self-regulatory organization. Prohibits [...]

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Latest Action: 02/28/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To require annual oral testimony before the Financial Services Committee of the Chairperson or a designee of the Chairperson of the Securities and Exchange Commission, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board, relating to their efforts to promote transparency in financial reporting. 2/27/2007--Passed House without amendment.    (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Promoting Transparency in Financial Reporting Act of 2007 - Requires the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to provide oral testimony by their respective Chairpersons (or a designee), beginning in 2007, and annually for five years, to the Committee on Financial Services of the House of Representatives on their efforts to reduce the complexity [...]

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Latest Action: 02/06/2007 - Referred to the House Committee on the Judiciary.

Bill Text
To improve and consolidate the law relating to restitution in criminal cases. 2/6/2007--Introduced. Criminal Restitution Improvement Act of 2007 - Amends the federal criminal code to: (1) make restitution mandatory for federal crimes resulting in pecuniary loss to identifiable victims, including loss proximately resulting from such crimes; (2) expand the extent of such restitution to include the victim's costs related to the investigation or prosecution of the underlying crime; (3) permit disclosure to crime victims of portions of pre-sentence reports relating to restitution; (4) require courts to enter orders requiring immediate payment of full restitution; (5) prohibit termination of supervised release or probation for convicts with unsatisfied orders of restitution; (6) expand forfeiture provisions to require the forfeiture of any profits made possible by a criminal offense; (7) require courts to enter protective orders to preserve assets available for restitution; and [...]

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Latest Action: 03/09/2007 - Sponsor introductory remarks on measure. (CR S2973)

Bill Text
A bill to require annual testimony before Congress by the Securities and Exchange Commission, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board, relating to efforts to promote transparency in financial reporting.

3/9/2007--Introduced.

Promoting Transparency in Financial Reporting Act of 2007 - Requires the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to provide oral testimony by their respective chairpersons (or a designee), beginning in 2007, and annually for five years, to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on their efforts to reduce the complexity in financial reporting, so that investors are provided with more accurate and clear financial information.

Latest Action: 03/14/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
A bill to reform certain provisions of section 404 of the Sarbanes-Oxley Act of 2002, to make compliance with that section more efficient, with the goal of maintaining United States capital market global competitiveness. 3/14/2007--Introduced. Competitive and Open Markets That Protect and Enhance the Treatment of Entrepreneurs Act of 2007, or the Compete Act of 2007 - Amends the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) to revise requirements for the internal control assessment component of a securities issuer's annual report.Requires the attestation and report by a registered public accounting firm on an issuer's management assessment of its internal control structure and procedures to focus upon the process and system used by management to identify and manage risks, identify and implement key controls, and come to a conclusion on the effectiveness of the internal controls over financial reporting. Prohibits an auditor's attestation and report from including [...]

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Latest Action: 03/20/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
A bill to streamline the regulation of nonadmitted insurance and reinsurance, and for other purposes. 3/20/2007--Introduced. Nonadmitted and Reinsurance Reform Act of 2007 - Prohibits any state other than the home state of an insured from requiring a premium tax payment for nonadmitted insurance. Authorizes states to enter into procedures to allocate among themselves the premium taxes paid to an insured's home state. Allows an insured's home state to require surplus lines brokers and certain insureds to file annually tax allocation reports detailing the portion of the nonadmitted insurance premiums attributable to properties, risks, or exposures located in each state. Declares that Congress intends that each state adopt a nationwide or uniform procedure that provides for the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance. Subjects nonadmitted insurance solely to the regulatory requirements of the insured's [...]

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Latest Action: 04/13/2007 - Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

Bill Text
To reduce the unintended costs and burdens that the Sarbanes-Oxley Act of 2002 imposes on United States businesses, while maintaining that Act's goals of bolstering confidence in the integrity of publicly held companies. 2/14/2007--Introduced. Amend Misinterpreted Excessive Regulation In Corporate America Act - Amends the Sarbanes-Oxley Act of 2002 to direct the Public Company Accounting Oversight Board to appoint an ombudsman to act as a liaison between the Board and any registered public accounting firm or issuer regarding: (1) issues or disputes concerning the preparation or issuance of any audit report with respect to that issuer; and (2) problems resulting from Board regulatory activities, particularly implementation of management assessment of internal controls. Revises requirements governing appointment of Board members. Provides for Presidential appointment of Board members, by and with the advice and consent of the Senate. Declares that Congress reserves [...]

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Latest Action: 06/26/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To streamline the regulation of nonadmitted insurance and reinsurance, and for other purposes. 6/25/2007--Passed House without amendment.    (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Nonadmitted and Reinsurance Reform Act of 2007 - Title I: Nonadmitted Insurance - (Sec. 101) Prohibits any state other than the home state of an insured from requiring a premium tax payment for nonadmitted insurance. Authorizes states to enter into procedures to allocate among themselves the premium taxes paid to an insured's home state. Declares that Congress intends that each state adopt a nationwide or uniform procedure that provides for the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance. Allows an insured's home state to require surplus lines brokers and certain insureds to file [...]

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Latest Legislation - View All

Latest Action: 10/01/2008 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to provide for the disclosure of schedule M-3 to the Securities and Exchange Commission, to provide for the public disclosure of certain information on such schedule, to provide penalties for failure to file such schedule or inaccurately reporting information on such schedule, and for other purposes. 10/1/2008--Introduced. Corporate Transparency Act of 2007 [sic] - Amends the Internal Revenue Code to require the Secretary of the Treasury to: (1) disclose to the Securities and Exchange Commission (SEC) certain tax return information of public entities whose securities are required to be registered under the Securities and Exchange Act of 1934 relating to the reconciliation of financial income statements with income tax returns (i.e., Schedule M-3); and (2) post on the Internet certain identifying and financial information for such entities. Imposes penalties on entities that fail to file required information. Requires [...]

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Latest Action: 07/14/2008 - Read twice and referred to the Committee on Small Business and Entrepreneurship.

Bill Text
A bill to reauthorize the women's entrepreneurial development programs of the Small Business Administration, and for other purposes. 7/14/2008--Introduced. SBA Women's Business Programs Act of 2008 - Amends the Women's Business Ownership Act of 1988 to direct the National Women's Business Council to: (1) conduct at least one annual study that evaluates problems hindering the success of women entrepreneurs; and (2) report biannually on its initiatives, policies, programs, and plans. Amends the Small Business Act relating to the women's business center program (program) to replace the five-year projects for the benefit of small businesses owned and controlled by women with a three-tiered program of five-year (first tier), three-year (second tier), and three-year (third tier) projects, with each tier commencing after the previous tier is being completed. Revises matching funds requirements for such projects. States that organizations that have conducted projects [...]

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Latest Action: 06/16/2008 - Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Bill Text
A bill to provide for greater accountability and transparency in the Federal contracting process, and for other purposes. 6/16/2008--Introduced. Oversight of the Performance and Effectiveness of National Contracting Act of 2008 - States the policy of the U.S. government concerning the award of contracts or grants to companies organized in an offshore secrecy jurisdiction to avoid federal tax obligations. Prohibits such awards. Requires the Director of the Office of Management and Budget (OMB) and the Secretary of the Treasury to adopt and revise regulations and guidance as necessary to effect this prohibition.Prohibits for one year (with exceptions) entry into or approval of any contract or subcontract with a company that files periodic reports under the Securities Exchange Act of 1934 and that has failed to certify the most recently due financial report as required by the Sarbanes-Oxley Act of 2002.Prohibits award of a contract with an executive agency unless [...]

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Latest Action: 05/08/2008 - Select Committee on Intelligence. Original measure reported to Senate by Senator Rockefeller. With written report No. 110-333. Additional and Minority views filed.

Bill Text
An original bill to authorize appropriations for fiscal year 2009 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes. 5/8/2008--Reported to Senate without amendment.    (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)Intelligence Authorization Act for Fiscal Year 2009 - Title I: Budget and Personnel Authorizations - (Sec. 101) Authorizes appropriations for FY2009 for the conduct of intelligence and intelligence-related activities of the: (1) Office of the Director of National Intelligence (DNI); (2) Central Intelligence Agency (CIA); (3) Department of Defense (DOD); (4) Defense Intelligence Agency (DIA); (5) National Security Agency (NSA); (6) Departments of the Army,[...]

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Latest Action: 07/17/2008 - Committee Consideration and Mark-up Session Held.

Bill Text
To authorize appropriations for fiscal year 2009 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes. 7/16/2008--Passed House amended.    (There is 1 other summary) Intelligence Authorization Act for Fiscal Year 2009 - Title I: Budget and Personnel Authorizations - (Sec. 101) Authorizes appropriations for FY2009 for the conduct of intelligence and intelligence-related activities of the: (1) Office of the Director of National Intelligence; (2) Central Intelligence Agency (CIA); (3) Department of Defense (DOD); (4) Defense Intelligence Agency (DIA); (5) National Security Agency (NSA); (6) Departments of the Army, Navy, and Air Force; (7) Coast Guard; (8) Departments of State, the Treasury, Energy, and Justice; (9) Federal Bureau of Investigation (FBI); (10) Drug Enforcement Administration [...]

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Latest Action: 05/07/2008 - Referred to the Subcommittee on Health.

Bill Text
To amend the Internal Revenue Code of 1986 to allow individuals a refundable and advancable credit against income tax for health insurance costs, to allow employees who elect not to participate in employer subsidized health plans an exclusion from gross income for employer payments in lieu of such participations, and for other purposes. 4/29/2008--Introduced. Patients' Health Care Reform Act - Amends the Public Health Service Act to provide for the establishment and governance of : (1) HealthMarts, which are nonprofit organizations that offer health benefits coverage to employers, employees, and individuals through contracts with health insurance issuers; and (2) individual membership associations (IMAs), which are organizations that offer health benefits coverage to members through health insurance issuer contracts. Requires the Secretary of Heath and Human Services to pay 50% of a state's costs to provide health benefits coverage under a high-risk pool, a reinsurance [...]

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Latest Action: 04/17/2008 - Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Bill Text
A bill to amend the Labor-Management Reporting and Disclosure Act of 1959 to provide for specified civil penalties for violations of that Act, and for other purposes. 4/17/2008--Introduced. Labor Management Reporting and Disclosure Enforcement Act of 2008 - Amends the Labor-Management Reporting and Disclosure Act of 1959 (Landrum-Griffin Act) to make a labor organization liable to any of its members for a civil money penalty of up to $250 for each day that it fails to provide such member information regarding the organization's constitution, bylaws, organization report, and annual financial report, including any books, records, and accounts necessary to verify such reports. Authorizes the Secretary of Labor to bring an action in U.S. district court for injunctive relief and enforcement of administrative penalties against any person who has violated or is about to violate any reporting requirements of such Act, including those applying to a labor organization which has [...]

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Latest Action: 04/15/2008 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to require greater disclosure of senior corporate officer compensation, to empower shareholders and investors to protect themselves from fraud, to limit conflicts of interest in determining senior corporate officer compensation, to ensure integrity in Federal contracting, to close corporate tax loopholes utilized to subsidize senior corporate officer compensation, and for other purposes. 4/15/2008--Introduced. Corporate Executive Compensation Accountability and Transparency Act - Amends the Internal Revenue Code to the limit annual aggregate amounts which may be deferred under nonqualified deferred compensation arrangements. Amends the Sarbanes-Oxley Act of 2002 to extend from 12 to 36 months the look-back period for any bonuses, incentive-based or equity-based compensation, or profits realized from the sale of securities which must be reimbursed to a securities issuer by its chief executive officer and chief financial officer if the issuer is required to prepare [...]

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Latest Action: 07/09/2008 - Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

Bill Text
To amend the Liability Risk Retention Act of 1986 to increase insurance competition and available coverage for consumers. 4/15/2008--Introduced. Increasing Insurance Coverage Options for Consumers Act of 2008 - Amends the Liability Risk Retention Act of 1986 to cover risk retention groups offering commercial property insurance. Applies the exemption of purchasing groups from state law to commercial property insurance. Terminates the inclusion in risk retention groups under the Act of any such group chartered, licensed, or authorized under the laws of Bermuda or the Cayman Islands. Prescribes general corporate governance standards for such groups, together with license or charter criteria regarding state examination authority and minimum requirements for safety and soundness. Prohibits a risk retention group from participating in an insurance insolvency guaranty association that includes participants other than risk retention groups. Revises procedures [...]

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Latest Action: 04/14/2008 - Sponsor introductory remarks on measure. (CR S2977-2978)

Bill Text
A bill to provide increased accessibility to information on Federal spending, and for other purposes. 4/14/2008--Introduced. Federal Spending and Taxpayer Accessibility Act - Directs the Congressional Research Service (CRS) to create a free public Internet website that includes data for fiscal years after FY2007 and allows the user to search specified information on each federal earmark, including the intended recipient, total dollar amount, the sponsoring Member of Congress, and the status of the bill to which it is attached. Requires the Secretary of the Treasury to provide, upon an eligible individual's request, his or her taxpayer account statement. Requires the Director of the Office of Management and Budget (OMB) to include the financial outlays exceeding $25,000 of all federal agencies for fiscal years after FY2008 on the Internet website established by the Federal Funding Accountability and Transparency Act of 2006. Declares that nothing in this [...]

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