H. Rept. 115-1008 1 (2018-11-02)

handle is hein.congrecreports/crptxabvk0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
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                     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

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