US Congress House Bill 4565 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on September 27 2019 - 25% progression, died in committee
Action: 2019-09-27 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Requires a standard setting body to meet certain requirements when establishing generally accepted accounting principles for purposes of securities laws. Specifically, the standard setting body must follow certain administrative procedures when adopting accounting principles. The Securities and Exchange Commission may recognize an accounting principle if the standard setting body considers the impact the accounting principle will have on the U.S. economy, market stability, and the availability of credit.

Responsible Accounting Standards Act of 2019

Rep. Blaine Luetkemeyer [R-MO]

Date	Chamber	Action
2019-09-27	House	Referred to the House Committee on Financial Services.
2019-09-27	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/4565/all-info
Text	https://www.congress.gov/116/bills/hr4565/BILLS-116hr4565ih.pdf