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![handle is hein.congrecreports/crptxabvk0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 1 115-1008
FEDERAL INSURANCE OFFICE REFORM ACT OF 2018
NOVEMBER 2, 2018.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 3861]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 3861) to reform the Federal Insurance Office of the De-
partment of the Treasury, and for other purposes, having consid-
ered the same, report favorably thereon with an amendment and
recommend that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Federal Insurance Office Reform Act of 2018.
SEC. 2. REFORM OF FEDERAL INSURANCE OFFICE.
(a) IN GENERAL.-Section 313 of title 31, United States Code, is amended as fol-
lows:
(1) LEADERSHIP.-In the first sentence of subsection (b), by inserting before
the period at the end the following: after consultation with State insurance
commissioners.
(2) FUNCTIONS.-In subsection (c)(1)-
(A) in subparagraph (E), by striking to coordinate and all that follows
through United States and inserting the following: to coordinate Federal
efforts, and to coordinate with the States, in developing Federal policy on
prudential aspects of international insurance matters, including rep-
resenting the Federal Government;
(B) in subparagraph (F), by striking to determine and inserting to as-
sist the Secretary in determining; and
(C) by striking subparagraph (G) and inserting the following:
(G) to consult and work toward consensus with the States (including
State insurance regulators) on matters of international importance; and.
89-006](ViewImageLocal?handle=hein.congrecreports/crptxabvk0001&div=1&collection=&method=preview&ext=.png&size=3)