This bill amends the Financial Stability Act of 2010 to significantly alter the composition of the Financial Stability Oversight Council (FSOC). Its primary purpose is to establish a State insurance commissioner as a voting member of the Council, thereby enhancing the representation of state insurance regulation. The new voting member will be appointed by the President, with the advice and consent of the Senate, for a four-year term. The President is directed to request a list of recommended candidates from the National Association of Insurance Commissioners (NAIC) but retains discretion in the final appointment. This legislation repeals the existing provision for a nonvoting State insurance commissioner on the FSOC, effectively replacing it with the new voting position. It also includes provisions for filling vacancies, where a designated State insurance commissioner would temporarily serve as a nonvoting member until a confirmed successor is in place, and ensures a smooth transition by allowing the current nonvoting member to serve until the new voting member is confirmed.