US Congress House Bill 6994 (Prior Session Legislation)

---

Spectrum: Bipartisan Bill
Status: Introduced on May 22 2020 - 25% progression, died in committee
Action: 2020-05-22 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Requires the Securities and Exchange Commission (SEC) to create a new form for the registration of index linked annuities. The bill defines a registered index linked annuity as an annuity that is deemed a security, that must be registered with the SEC, and that is issued by an insurance company subject to state supervision. Furthermore, the returns of these annuities (1) are based on the performance of a specified index rate or other financial tracking vehicle, (2) are subject to modification by a financial calculation mechanism, and (3) may be subject to a market value adjustment if amounts are withdrawn early.

Registration for Index-Linked Annuities Act

Rep. Dean Phillips [D-MN]	Rep. Steve Stivers [R-OH]	Rep. Bill Huizenga [R-MI]	Rep. Bill Foster [D-IL]
Rep. Alexander Mooney [R-WV]	Rep. Trey Hollingsworth [R-IN]	Rep. Ed Perlmutter [D-CO]	Rep. Denny Heck [D-WA]
Rep. Harley Rouda [D-CA]	Rep. Brad Sherman [D-CA]	Rep. Ann Wagner [R-MO]

Date	Chamber	Action
2020-05-22	House	Referred to the House Committee on Financial Services.
2020-05-22	House	Introduced in House

SB3795 (Related) 2020-05-21 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6994/all-info
Text	https://www.congress.gov/116/bills/hr6994/BILLS-116hr6994ih.pdf