IB 

Union Calendar No. 81 

112TH CONGRESS 

1ST SESSION H. R. 33 

[Report No. 112–131] 

To amend the Securities Act of 1933 to specify when certain securities 

issued in connection with church plans are treated as exempted securities 

for purposes of that Act. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 5, 2011 

Mrs. BIGGERT introduced the following bill; which was referred to the 

Committee on Financial Services 

JULY 1, 2011 

Reported with an amendment, committed to the Committee of the Whole 

House on the State of the Union, and ordered to be printed 

[Strike out all after the enacting clause and insert the part printed in italic] 


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•HR 33 RH

A BILL 

To amend the Securities Act of 1933 to specify when certain 

securities issued in connection with church plans are 

treated as exempted securities for purposes of that Act. 


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3 

•HR 33 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SECURITIES ACT OF 1933 AMENDMENT. 

4 Section 3(a)(2) of the Securities Act of 1933 (15 

5 U.S.C. 77c(a)(2)) is amended— 

6 (1) by inserting ‘‘(other than a retirement in7 come account described in section 403(b)(9) of the 

8 Internal Revenue Code of 1986, to the extent that 

9 the interest or participation in such single trust fund 

10 or collective trust fund is issued to a church, a con11 vention or association of churches, or an organiza12 tion described in section 414(e)(3)(A) of such Code 

13 establishing or maintaining the retirement income 

14 account or to a trust established by any such entity 

15 in connection with the retirement income account)’’ 

16 after ‘‘403(b) of such Code’’; and 

17 (2) by inserting ‘‘(other than a person partici18 pating in a church plan who is described in section 

19 414(e)(3)(B) of the Internal Revenue Code of 

20 1986)’’ after ‘‘section 401(c)(1) of such Code’’. 

21 SECTION 1. SHORT TITLE. 

22 This Act may be cited as the ‘‘Church Plan Investment 

23 Clarification Act’’. 


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•HR 33 RH

1 SEC. 2. SECURITIES ACT OF 1933 AMENDMENT. 

2 Section 3(a)(2) of the Securities Act of 1933 (15 U.S.C. 

3 77c(a)(2)) is amended— 

4 (1) by inserting ‘‘(other than a retirement in5 come account described in section 403(b)(9) of the In6 ternal Revenue Code of 1986, to the extent that the in7 terest or participation in such single trust fund or 

8 collective trust fund is issued to a church, a conven9 tion or association of churches, or an organization de10 scribed in section 414(e)(3)(A) of such Code estab11 lishing or maintaining the retirement income account 

12 or to a trust established by any such entity in connec13 tion with the retirement income account)’’ after 

14 ‘‘403(b) of such Code’’; and 

15 (2) by inserting ‘‘(other than a person partici16 pating in a church plan who is described in section 

17 414(e)(3)(B) of the Internal Revenue Code of 1986)’’ 

18 after ‘‘section 401(c)(1) of such Code’’. 


srobinson on DSK4SPTVN1PROD with BILLS

srobinson on DSK4SPTVN1PROD with BILLS
Union Calendar No. 81 

112TH CONGRESS 

1ST SESSION H. R. 33 

[Report No. 112–131] 

A BILL 

To amend the Securities Act of 1933 to specify 

for purposes of that Act. church plans are treated as exempted securities when certain securities issued in connection with 

JULY 1, 2011 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 


srobinson on DSK4SPTVN1PROD with BILLS