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S 3795 116th Congress Senate Finance and Financial Sector

Registration for Index Linked Annuities Act of 2020

Introduced: May 21, 2020 Introduced by: Smith, Tina Democratic · Minnesota See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 21, 2020
Introduced in Senate
May 21, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
 Plain-English summary Congressional Research Service

Registration for Index-Linked Annuities Act of 2020

This bill 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modification by a financial calculation mechanism, and (3) may be subject to a market value adjustment if amounts are withdrawn early.

What's happening now May 21, 2020

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1