H.R. 2140: Insurance Capital and Accounting Standards Act of 2013
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H.R. 2140: Insurance Capital and Accounting Standards Act of 2013
113th Congress · introduced 2013-05-23 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.
federal
Follow this bill, step by step
- Where it came from: introduced 2013-05-23 · official record
- Who proposed it: Rep. Miller, Gary G. [R-CA-31] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Insurance Capital and Accounting Standards Act of 2013
Plain summary
Insurance Capital and Accounting Standards Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and the Home Owners' Loan Act to make minimum leverage and risk-based capital requirements governing insurance companies under the state law also apply to insurance companies that are either depository holding companies or subsidiaries of depository holding companies. Presumes any insurance company, insurance affiliate, or insurance subsidiary in compliance with applicable risk-based capital standards under state law also to be in compliance with minimum capital requirements of Dodd-Frank. Declares inapplicable to such companies the minimum leverage and risk-based capital requirements of Dodd-Frank unless the Board of Governors of the Federal Reserve System (Board) first determines that: (1) the benefits of applying those requirements outweigh their cost, and (2) a quantitative impact study shows such requirements to be appropriate. Prohibits the Board from requiring a nonbank financial company that is an insurance company under its supervision to comply with accounting standards that differ from regulatory accounting standards under state law. Amends the Federal Deposit Insurance Act (FDIA) to require a federal banking agency, before requiring a depository institution holding company that is an insurance company (or that has one or more subsidiaries that are insurance companies) to be used directly or indirectly as a source of financial strength for a subsidiary depository institution, to first obtain: (1) the consent of the domiciliary state insurance commissioner, and (2) a certification that the commissioner considered the safety and soundness of the insurance company or subsidiary insurance company before providing such consent.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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What does this mean? (plain words)
Official text
Insurance Capital and Accounting Standards Act of 2013
Source: Congressional Research Service summary (Introduced in House)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Miller, Gary G. [R-CA-31] · 1 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Appropriation
- Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr2140.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>
Record fed-us-cong113-hr2140 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113