Legis Daily

Registration for Index-Linked Annuities Act

USA117th CongressS-3198| Senate 
| Updated: 12/7/2022
Tina Smith

Tina Smith

Democratic Senator

Minnesota

Cosponsors (3)
Thomas Tillis (Republican)Chris Van Hollen (Democratic)Bill Hagerty (Republican)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Registration for Index-Linked Annuities Act This bill requires the Securities and Exchange Commission (SEC) to create a new form for the registration of index-linked annuities to ensure that a purchaser can make a knowledgeable decision. The bill defines a registered index-linked annuity as an annuity that is deemed a security, that is 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performance of a specified benchmark index or rate, and (2) may be subject to a market value adjustment if amounts are withdrawn early.

Bill Text Versions

View Text
2 versions available

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Timeline

Bill from Previous Congress

S 116-3795
Registration for Index Linked Annuities Act of 2020
Nov 4, 2021
Introduced in Senate
Nov 4, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 27, 2022

Latest Companion Bill Action

HR 117-4865
Committee Consideration and Mark-up Session Held.
Dec 6, 2022
Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S7004)
Dec 6, 2022
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Dec 6, 2022
Measure laid before Senate by unanimous consent. (consideration: CR S7003-7004)
Dec 6, 2022
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
Dec 7, 2022
Message on Senate action sent to the House.
Dec 7, 2022
Received in the House.
Dec 7, 2022
Held at the desk.
  • Bill from Previous Congress

    S 116-3795
    Registration for Index Linked Annuities Act of 2020


  • November 4, 2021
    Introduced in Senate


  • November 4, 2021
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • July 27, 2022

    Latest Companion Bill Action

    HR 117-4865
    Committee Consideration and Mark-up Session Held.


  • December 6, 2022
    Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S7004)


  • December 6, 2022
    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.


  • December 6, 2022
    Measure laid before Senate by unanimous consent. (consideration: CR S7003-7004)


  • December 6, 2022
    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.


  • December 7, 2022
    Message on Senate action sent to the House.


  • December 7, 2022
    Received in the House.


  • December 7, 2022
    Held at the desk.

Finance and Financial Sector

Related Bills

  • HR 117-4865: Registration for Index-Linked Annuities Act
Insurance industry and regulationInterest, dividends, interest ratesLicensing and registrationsPerformance measurementSecuritiesSecurities and Exchange Commission (SEC)

Registration for Index-Linked Annuities Act

USA117th CongressS-3198| Senate 
| Updated: 12/7/2022
Registration for Index-Linked Annuities Act This bill requires the Securities and Exchange Commission (SEC) to create a new form for the registration of index-linked annuities to ensure that a purchaser can make a knowledgeable decision. The bill defines a registered index-linked annuity as an annuity that is deemed a security, that is 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 benchmark index or rate, and (2) may be subject to a market value adjustment if amounts are withdrawn early.

Bill Text Versions

View Text
2 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-3795
Registration for Index Linked Annuities Act of 2020
Nov 4, 2021
Introduced in Senate
Nov 4, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 27, 2022

Latest Companion Bill Action

HR 117-4865
Committee Consideration and Mark-up Session Held.
Dec 6, 2022
Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S7004)
Dec 6, 2022
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Dec 6, 2022
Measure laid before Senate by unanimous consent. (consideration: CR S7003-7004)
Dec 6, 2022
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
Dec 7, 2022
Message on Senate action sent to the House.
Dec 7, 2022
Received in the House.
Dec 7, 2022
Held at the desk.
  • Bill from Previous Congress

    S 116-3795
    Registration for Index Linked Annuities Act of 2020


  • November 4, 2021
    Introduced in Senate


  • November 4, 2021
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • July 27, 2022

    Latest Companion Bill Action

    HR 117-4865
    Committee Consideration and Mark-up Session Held.


  • December 6, 2022
    Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S7004)


  • December 6, 2022
    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.


  • December 6, 2022
    Measure laid before Senate by unanimous consent. (consideration: CR S7003-7004)


  • December 6, 2022
    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.


  • December 7, 2022
    Message on Senate action sent to the House.


  • December 7, 2022
    Received in the House.


  • December 7, 2022
    Held at the desk.
Tina Smith

Tina Smith

Democratic Senator

Minnesota

Cosponsors (3)
Thomas Tillis (Republican)Chris Van Hollen (Democratic)Bill Hagerty (Republican)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

Related Bills

  • HR 117-4865: Registration for Index-Linked Annuities Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Insurance industry and regulationInterest, dividends, interest ratesLicensing and registrationsPerformance measurementSecuritiesSecurities and Exchange Commission (SEC)