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[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 33 Reported in House (RH)]

                                                  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]

_______________________________________________________________________

                                 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.

 

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

<DELETED>SECTION 1. SECURITIES ACT OF 1933 AMENDMENT.</DELETED>

<DELETED>    Section 3(a)(2) of the Securities Act of 1933 (15 U.S.C. 
77c(a)(2)) is amended--</DELETED>
        <DELETED>    (1) by inserting ``(other than a retirement income 
        account described in section 403(b)(9) of the Internal Revenue 
        Code of 1986, to the extent that the interest or participation 
        in such single trust fund or collective trust fund is issued to 
        a church, a convention or association of churches, or an 
        organization described in section 414(e)(3)(A) of such Code 
        establishing or maintaining the retirement income account or to 
        a trust established by any such entity in connection with the 
        retirement income account)'' after ``403(b) of such Code''; 
        and</DELETED>
        <DELETED>    (2) by inserting ``(other than a person 
        participating in a church plan who is described in section 
        414(e)(3)(B) of the Internal Revenue Code of 1986)'' after 
        ``section 401(c)(1) of such Code''.</DELETED>

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Church Plan Investment Clarification 
Act''.

SEC. 2. SECURITIES ACT OF 1933 AMENDMENT.

    Section 3(a)(2) of the Securities Act of 1933 (15 U.S.C. 77c(a)(2)) 
is amended--
            (1) by inserting ``(other than a retirement income account 
        described in section 403(b)(9) of the Internal Revenue Code of 
        1986, to the extent that the interest or participation in such 
        single trust fund or collective trust fund is issued to a 
        church, a convention or association of churches, or an 
        organization described in section 414(e)(3)(A) of such Code 
        establishing or maintaining the retirement income account or to 
        a trust established by any such entity in connection with the 
        retirement income account)'' after ``403(b) of such Code''; and
            (2) by inserting ``(other than a person participating in a 
        church plan who is described in section 414(e)(3)(B) of the 
        Internal Revenue Code of 1986)'' after ``section 401(c)(1) of 
        such Code''.
                                                  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 when certain securities 
    issued in connection with church plans are treated as exempted 
                  securities for purposes of that Act.

_______________________________________________________________________

                              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
```