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SJRES 59 118th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Congressional oversight Congressional-executive branch relations Securities and Exchange Commission (SEC)

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff…

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A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".

Introduced: May 7, 2024 Introduced by: Lummis, Cynthia M. Republican · Wyoming See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 1, 2024
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 1, 2024
Introduced in Senate
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 Plain-English summary Congressional Research Service

This joint resolution nullifies the rule issued by the Securities and Exchange Commission on March 31, 2022, titled Staff Accounting Bulletin No. 121. This bulletin provides accounting and disclosure guidance for entities related to their obligations to safeguard cryptoassets held for users of its platform.

A letter of opinion from the Government Accountability Office dated October 31, 2023, titled Securities and Exchange Commission—Applicability of the Congressional Review Act to Staff Accounting Bulletin No. 121 concluded that this bulletin is a rule for purposes of the Congressional Review Act.

What's happening now February 1, 2024

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

 Related & companion bills 1
  • HJRES 109 Identical bill Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Se…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 12
All 12 Republican 12
R
Barrasso, John
Wyoming · May 7, 2024
 R
Blackburn, Marsha
Tennessee · May 7, 2024
 R
Boozman, John
Arkansas · May 7, 2024
 R
Budd, Ted
North Carolina · May 7, 2024
 R
Cramer, Kevin
North Dakota · May 7, 2024
 R
Cruz, Ted
Texas · May 7, 2024
 R
Daines, Steve
Montana · May 7, 2024
 R
Hagerty, Bill
Tennessee · May 7, 2024
 R
Marshall, Roger
Kansas · May 7, 2024
 R
Ricketts, Pete
Nebraska · May 7, 2024
 R
Rounds, Mike
South Dakota · May 7, 2024
 R
Tuberville, Tommy
Alabama · May 7, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S.J. Res. 59: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".. 118th Congress. Open America. https://openamerica.io/bill/118-SJRES-59/
MLA
"S.J. Res. 59: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-SJRES-59/.
Bluebook (legal)
S.J. Res. 59, 118th Cong. (2026), https://openamerica.io/bill/118-SJRES-59/.
Markdown link
[S.J. Res. 59: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".](https://openamerica.io/bill/118-SJRES-59/)
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