I 

118TH CONGRESS 

2D SESSION H. R. 10542 

To amend the Federal Deposit Insurance Act and the Federal Credit Union 

Act to authorize a temporary transaction account guarantee program, 

expand deposit and share insurance to cover business payment accounts, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 19, 2024 

Ms. WATERS introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To amend the Federal Deposit Insurance Act and the Federal Credit Union Act to authorize a temporary transaction account guarantee program, expand deposit and 

share insurance to cover business payment accounts, and 

for other purposes. 

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

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Employee Paycheck 

5 and Small Business Protection Act’’. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
2 

•HR 10542 IH

1 SEC. 2. EXPANDED INSURANCE COVERAGE FOR BUSINESS 

2 PAYMENT ACCOUNTS. 

3 (a) INSURED DEPOSITORY INSTITUTIONS.— 

4 (1) IN GENERAL.—Section 11(a) of the Federal 

5 Deposit Insurance Act (12 U.S.C. 1821(a)) is 

6 amended— 

7 (A) in paragraph (1)(B), by striking ‘‘The 

8 net amount’’ and inserting ‘‘Except as provided 

9 in paragraph (6), the net amount’’; and 

10 (B) by adding at the end the following: 

11 ‘‘(6) EXPANDED INSURANCE COVERAGE FOR

12 BUSINESS PAYMENT ACCOUNTS.— 

13 ‘‘(A) INSURANCE REQUIRED.—Notwith14 standing paragraph (1), the Corporation shall 

15 establish a program under which the Corpora16 tion shall fully insure the deposits that any de17 positor at an insured depository institution 

18 maintains in a covered transaction account in 

19 accordance with subparagraph (B). 

20 ‘‘(B) AMOUNT.—The Corporation may 

21 only provide insurance for deposits under sub22 paragraph (A) in an amount of net deposits up 

23 to $100,000,000 per depositor per depository 

24 institution. 

25 ‘‘(C) EXCLUSION FROM NET AMOUNT OF

26 INSURED DEPOSITS.—Any amount of deposits 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
3 

•HR 10542 IH

1 insured under this paragraph shall not be taken 

2 into account when computing the net amount 

3 due to such depositor under paragraph (1)(B). 

4 ‘‘(D) COVERED TRANSACTION ACCOUNT

5 DEFINED.—In this paragraph, the term ‘cov6 ered transaction account’ means a deposit or 

7 account maintained at an insured depository in8 stitution— 

9 ‘‘(i) by a business, non-profit, munici10 pality, or similar organization; 

11 ‘‘(ii) used predominantly for trans12 actions, including payroll payments, vendor 

13 payments, and any other regular payments 

14 made to support the work or mission of the 

15 account holder; and 

16 ‘‘(iii) that is non-interest bearing or 

17 that pays interest materially below pre18 vailing market rates, as determined by the 

19 Corporation.’’. 

20 (2) APPLICABILITY.—The amendments made 

21 by this subsection shall apply with respect to a cov22 ered transaction account (as defined in paragraph 

23 (6)(D) of section 11(a) of the Federal Deposit In24 surance Act, as added by this section) on the date 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
4 

•HR 10542 IH

1 of the issuance of a final rule described in subsection 

2 (d). 

3 (b) CREDIT UNIONS.— 

4 (1) IN GENERAL.—Section 207(k) of the Fed5 eral Credit Union Act (12 U.S.C. 1787(k)) is 

6 amended— 

7 (A) in paragraph (1)(A), by inserting ‘‘and 

8 except as provided in paragraph (7)’’ after 

9 ‘‘paragraph (2)’’; and 

10 (B) by adding at the end the following: 

11 ‘‘(7) EXPANDED INSURANCE COVERAGE FOR

12 BUSINESS PAYMENT ACCOUNTS.— 

13 ‘‘(A) INSURANCE REQUIRED.—Notwith14 standing paragraph (1), the Board shall estab15 lish a program under which the Board shall 

16 fully insure the deposits or shares in members 

17 accounts of an insured credit union that are 

18 covered transaction accounts in accordance with 

19 subparagraph (B). 

20 ‘‘(B) AMOUNT.—The Board may only pro21 vide insurance under subparagraph (A) in an 

22 amount of the net deposits or shares up to 

23 $100,000,000 per member per insured credit 

24 union. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
5 

•HR 10542 IH

1 ‘‘(C) EXCLUSION FROM NET AMOUNT OF

2 INSURED DEPOSITS OR SHARES.—Any amount 

3 of deposits or shares insured under this para4 graph shall not be taken into account when 

5 computing the net amount due under paragraph 

6 (1)(A). 

7 ‘‘(D) COVERED TRANSACTION ACCOUNT

8 DEFINED.—In this paragraph, the term ‘cov9 ered transaction account’ means a deposit, 

10 share, or account maintained at an insured 

11 credit union— 

12 ‘‘(i) by a business, non-profit, munici13 pality, or similar organization; 

14 ‘‘(ii) used predominantly for trans15 actions, including payroll payments, vendor 

16 payments, and any other regular payments 

17 made to support the work or mission of the 

18 account holder; and 

19 ‘‘(iii) that is non-interest bearing or 

20 that pays interest materially below pre21 vailing market rates, as determined by the 

22 Board.’’. 

23 (2) APPLICABILITY.—The amendments made 

24 by this subsection shall apply with respect to a cov25 ered transaction account (as defined in section 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
6 

•HR 10542 IH

1 207(k)(7)(D) of the Federal Credit Union Act, as 

2 added by this section) on the date of the issuance of 

3 a final rule described in subsection (d). 

4 (c) DATA COLLECTION AND ANALYSIS.— 

5 (1) IN GENERAL.— 

6 (A) FDIC.—Not later than 90 days after 

7 the date of the enactment of this Act, the Fed8 eral Deposit Insurance Corporation shall begin 

9 collecting and analyzing data from insured de10 pository institutions to establish requirements 

11 for the program established under paragraph 

12 (6) of section 11(a) of the Federal Deposit In13 surance Act, as added by this Act, including to 

14 determine the eligibility of covered transaction 

15 accounts and the amount of deposits to be in16 sured under such program, as appropriate. 

17 (B) NCUA.—Not later than 90 days after 

18 the date of the enactment of this Act, the Na19 tional Credit Union Administration Board shall 

20 begin collecting and analyzing data from in21 sured credit unions to establish requirements 

22 for the program established under paragraph 

23 (7) of section 207(k) of the Federal Credit 

24 Union Act, as added by this Act, including to 

25 determine the eligibility of covered transaction 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
7 

•HR 10542 IH

1 accounts and the amount of deposits or shares 

2 to be insured under such program, as appro3 priate. 

4 (2) ELEMENTS.—In establishing the eligibility 

5 of covered transaction accounts and the amount of 

6 deposits or shares to be insured as described in 

7 paragraph (1), the Federal Deposit Insurance Cor8 poration and the National Credit Union Administra9 tion Board, respectively, shall consider the following: 

10 (A) The eligibility of covered transaction 

11 accounts and the maximum insurance amount 

12 for such deposits or shares to promote safety 

13 and soundness of insured depository institutions 

14 and insured credit unions, as applicable. 

15 (B) The eligibility of covered transaction 

16 accounts and the maximum insurance amount 

17 for such deposits or shares to promote stability 

18 of the financial system of the United States. 

19 (C) The eligibility of covered transaction 

20 accounts and the maximum insurance amount 

21 for such deposits or shares to promote a com22 petitive depository market structure that, as ap23 plicable, includes— 

24 (i) minority depository institutions (as 

25 defined in section 308 of the Financial InVerDate Sep 11 2014 02:01 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\H10542.IH H10542

kjohnson on DSK7ZCZBW3PROD with $$_JOB
8 

•HR 10542 IH

1 stitutions Reform, Recovery, and Enforce2 ment Act of 1989) and minority insured 

3 credit unions; 

4 (ii) rural depository institutions and 

5 rural insured credit unions; 

6 (iii) depository institutions and credit 

7 unions that are community development fi8 nancial institutions (as defined in section 

9 103(5) of the Riegle Community Develop10 ment and Regulatory Improvement Act of 

11 1994); and 

12 (iv) other large, small, and medium13 sized insured depository institutions and 

14 insured credit unions. 

15 (D) The eligibility of covered transaction 

16 accounts and the maximum insurance amount 

17 for such deposits or shares to ensure holders of 

18 covered transaction accounts would be able to 

19 meet payment obligations in a timely fashion, 

20 including payroll and vendor payment obliga21 tions. 

22 (E) The expected effect of assessment or 

23 premium adjustments on insured depository in24 stitutions and insured credit unions, as applica25 ble. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
9 

•HR 10542 IH

1 (3) PUBLICATION.—Not later than 18 months 

2 after the date of the enactment of this Act, the Fed3 eral Deposit Insurance Corporation and the National 

4 Credit Union Administration Board shall— 

5 (A) make publicly available a report with 

6 detailed analyses conducted under this sub7 section, including aggregated data; and 

8 (B) make available to the Committee on 

9 Financial Services of the House of Representa10 tives and Committee on Banking, Housing, and 

11 Urban Affairs of the Senate the data collected 

12 under this subsection. 

13 (d) RULEMAKING.— 

14 (1) PROPOSED RULEMAKING.— 

15 (A) IN GENERAL.—Not later than 18 

16 months after the date of the enactment of this 

17 Act, the Federal Deposit Insurance Corporation 

18 and the National Credit Union Administration 

19 Board shall each issue a proposed rule to carry 

20 out the requirements of this section and the 

21 amendments made by this section. 

22 (B) ADDITIONAL REQUIREMENTS.—The 

23 Federal Deposit Insurance Corporation and the 

24 National Credit Union Administration Board 

25 shall consult with the Board of Governors of 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
10 

•HR 10542 IH

1 the Federal Reserve System and the Comp2 troller of the Currency before issuing a pro3 posed rule required under subparagraph (A). 

4 (C) TESTIMONY.—The Chairperson of the 

5 Federal Deposit Insurance Corporation and the 

6 Chairman of the National Credit Union Admin7 istration Board shall testify before the Finan8 cial Services Committee of the House of Rep9 resentatives and Committee on Banking, Hous10 ing, and Urban Affairs of the Senate, at a time 

11 determined by the Chairs of those Committees 

12 that is after the date on which the proposed 

13 rule described in subparagraph (A) is issued. 

14 (2) FINAL RULEMAKING.— 

15 (A) IN GENERAL.—Not later than 30 

16 months after the date of the enactment of this 

17 Act, the Federal Deposit Insurance Corporation 

18 and the National Credit Union Administration 

19 Board shall each issue a final rule to carry out 

20 the requirements of this section and the amend21 ments made by this section. 

22 (B) JOINT DETERMINATIONS REQUIRED.— 

23 Each rule described under subparagraph (A) 

24 shall contain the following, which shall be joint25 ly determined by the Federal Deposit Insurance 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
11 

•HR 10542 IH

1 Corporation and the National Credit Union Ad2 ministration Board: 

3 (i) A definition of the term ‘‘deposits’’ 

4 and ‘‘deposits or shares’’ that applies to 

5 both programs. 

6 (ii) A maximum insurance amount for 

7 deposits or shares held in a covered trans8 action account that applies to both pro9 grams. 

10 (3) FAILURE TO ISSUE A FINAL RULE.—If the 

11 Federal Deposit Insurance Corporation or the Na12 tional Credit Union Administration Board do not 

13 issue a final rule required under paragraph (2) be14 fore the deadline described in that paragraph— 

15 (A) the Chair of each agency failing to 

16 issue a final rule shall— 

17 (i) testify before the Committee on Fi18 nancial Services of the House of Rep19 resentatives and Committee on Banking, 

20 Housing, and Urban Affairs of the Senate 

21 regarding the reasons why the agency has 

22 not yet issued a final rule; and 

23 (ii) submit a report to such Commit24 tees that includes— 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
12 

•HR 10542 IH

1 (I) an assessment of the benefits 

2 and challenges posed by expanding de3 posit or share insurance as required, 

4 as applicable, under the program es5 tablished under paragraph (6) of sec6 tion 11(a) of the Federal Deposit In7 surance Act (as added by this Act) 

8 and the program established under 

9 paragraph (7) of section 207(k) of the 

10 Federal Credit Union Act (as added 

11 by this Act); and 

12 (II) any recommendations for ad13 ministrative or legislative modifica14 tions; 

15 (B) the Comptroller General of the United 

16 State shall conduct a review of the reports re17 quired under subsection (c), along with any 

18 other relevant data, and submit to Congress a 

19 report on— 

20 (i) the benefits and challenges posed 

21 by— 

22 (I) the program established 

23 under paragraph (6) of section 11(a) 

24 of the Federal Deposit Insurance Act, 

25 as added by this Act; and 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
13 

•HR 10542 IH

1 (II) the program established 

2 under paragraph (7) of section 207(k) 

3 of the Federal Credit Union Act, as 

4 added by this Act; and 

5 (ii) any recommendations for legisla6 tive or regulatory actions. 

7 (e) EXTENSION OF DEPOSIT INSURANCE FUND AND

8 NATIONAL CREDIT UNION SHARE INSURANCE FUND

9 RESTORATION PLANS.—A Deposit Insurance Fund res10 toration plan (as defined under section 7(b)(3)(E) of the 

11 Federal Deposit Insurance Act (12 U.S.C. 

12 1817(b)(3)(E))) or a restoration plan for the National 

13 Credit Union Share Insurance Fund (as described in sec14 tion 202(c)(2)(D) of the Federal Credit Union Act (12 

15 U.S.C. 1782(c)(2)(D))) in effect on the date of the enact16 ment of this Act shall be extended for a period of 8 years 

17 beginning on the effective date of a final rule issued by 

18 the applicable agency pursuant to subsection (d). 

19 SEC. 3. TEMPORARY TRANSACTION ACCOUNT GUARANTEE 

20 PROGRAM. 

21 (a) INSURED DEPOSITORY INSTITUTIONS.—Section 

22 13 of the Federal Deposit Insurance Act (12 U.S.C. 1823) 

23 is amended by adding at the end the following: 

24 ‘‘(l) INSURANCE OF CERTAIN UNINSURED DEPOSITS

25 TO PRESERVE FINANCIAL STABILITY.— 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
14 

•HR 10542 IH

1 ‘‘(1) ESTABLISHMENT OF PROGRAM FRAME2 WORK.—The Corporation shall, by rule, establish a 

3 framework for a Temporary Transaction Account 

4 Guarantee Program (the ‘Program’) under which 

5 the Corporation fully insures the net amount any de6 positor at an insured depository institution main7 tains in a covered transaction account for a single 

8 period not to exceed 180 days. 

9 ‘‘(2) IMPLEMENTATION.—The Corporation may 

10 implement the Program only if, upon the written 

11 recommendation of the Board of Directors (upon a 

12 vote of not less than two-thirds of the members of 

13 the Board of Directors) and the Board of Governors 

14 of the Federal Reserve System (upon a vote of not 

15 less than two-thirds of the members of such Board), 

16 the Secretary of the Treasury (in consultation with 

17 the President) determines that the failure to imple18 ment the program would have serious adverse effects 

19 on financial stability or economic conditions in the 

20 United States. 

21 ‘‘(3) ELIGIBILITY.—An insolvent insured depos22 itory institution is not eligible to be enrolled in the 

23 Program. 

24 ‘‘(4) FUNDING.—In implementing the Program, 

25 the Corporation may— 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
15 

•HR 10542 IH

1 ‘‘(A) establish assessments on insured de2 pository institutions that participate in the Pro3 gram; and 

4 ‘‘(B) use amounts available in the Deposit 

5 Insurance Fund. 

6 ‘‘(5) EXTENSION.—The Corporation may ex7 tend the period described in paragraph (2) for an 

8 additional 90 days if— 

9 ‘‘(A) the Board of Directors (upon a vote 

10 of not less than two-thirds of the members of 

11 the Board of Directors), the Board of Gov12 ernors of the Federal Reserve System (upon a 

13 vote of not less than two-thirds of the members 

14 of such Board), and the Secretary (in consulta15 tion with the President) determines that the 

16 failure to extend such program would have seri17 ous adverse effects on financial stability or eco18 nomic conditions in the United States; and 

19 ‘‘(B) the Secretary of the Treasury sub20 mits to Congress a report containing data and 

21 analysis, including data and analysis from the 

22 Board of Directors and the Board of Governors 

23 of the Federal Reserve System, justifying such 

24 extension. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
16 

•HR 10542 IH

1 ‘‘(6) TESTIMONY.—Not later than 45 days after 

2 any implementation of the Program, the Chairperson 

3 of the Board of Directors, the Chairman of the 

4 Board of Governors of the Federal Reserve System, 

5 and the Secretary of the Treasury shall provide tes6 timony to the Committee on Financial Services Com7 mittee of the House of Representatives and the 

8 Committee on Banking, Housing, and Urban Affairs 

9 of the Senate describing the data, analysis, and jus10 tification for implementing the Program. 

11 ‘‘(7) GAO REPORT.—Not later than 90 days 

12 after any implementation of the Program, the Comp13 troller General of the United States shall submit to 

14 Congress a report describing the implementation of 

15 the Program. 

16 ‘‘(8) COVERED TRANSACTION ACCOUNT DE17 FINED.—In this subsection, the term ‘covered trans18 action account’ means a transaction account that is 

19 non-interest bearing or that pays interest materially 

20 below prevailing market rates, as determined by the 

21 Corporation. 

22 ‘‘(9) TERMINATION.— 

23 ‘‘(A) IN GENERAL.—Any implementation 

24 of the Program shall terminate not later than 

25 270 days after the date of implementation unVerDate Sep 11 2014 02:01 Jan 29, 2025 Jkt 059200 PO 00000 Frm 00016 Fmt 6652 Sfmt 6201 E:\BILLS\H10542.IH H10542

kjohnson on DSK7ZCZBW3PROD with $$_JOB
17 

•HR 10542 IH

1 less the Board of Directors (upon a vote of not 

2 less than two-thirds of the members of the 

3 Board of Directors) and the Board of Gov4 ernors of the Federal Reserve System (upon a 

5 vote of not less than two-thirds of the members 

6 of such Board) submits to the Secretary of the 

7 Treasury a written recommendation to not ter8 minate the program, and— 

9 ‘‘(i) the Secretary of the Treasury— 

10 ‘‘(I) submits to Congress a report 

11 containing data and analysis to justify 

12 not terminating the Program that in13 cludes data and analysis from the 

14 Board of Directors and the Board of 

15 Governors of the Federal Reserve Sys16 tem; and 

17 ‘‘(II) requests approval from 

18 Congress to extend the Program for a 

19 specified period of time; and 

20 ‘‘(ii) a joint resolution of approval is 

21 enacted to extend the Program. 

22 ‘‘(B) PROCEDURES FOR JOINT RESOLU23 TION OF APPROVAL.—The procedures provided 

24 for congressional consideration of a joint resolu25 tion under section 1105(d) of the Dodd-Frank 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
18 

•HR 10542 IH

1 Wall Street Reform and Consumer Protection 

2 Act shall apply to a joint resolution of approval 

3 described under subparagraph (A)(ii).’’. 

4 (b) INSURED CREDIT UNIONS.—Section 207 of the 

5 Federal Credit Union Act (12 U.S.C. 1787) is amended 

6 by adding at the end the following: 

7 ‘‘(s) INSURANCE OF CERTAIN UNINSURED DEPOSITS

8 TO PRESERVE FINANCIAL STABILITY.— 

9 ‘‘(1) IN GENERAL.—The National Credit Union 

10 Administration Board may establish a program 

11 under which the Board fully insures the net amount 

12 in member accounts of an insured credit union that 

13 are covered transaction accounts for a single period 

14 not to exceed 180 days if, upon the written rec15 ommendation of such Board (upon a vote of not less 

16 than two-thirds of the members of such Board) and 

17 the Board of Governors of the Federal Reserve Sys18 tem (upon a vote of not less than two-thirds of the 

19 members of such Board), the Secretary of the Treas20 ury (in consultation with the President) determines 

21 that the failure to establish such program would 

22 have serious adverse effects on financial stability or 

23 economic conditions in the United States. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
19 

•HR 10542 IH

1 ‘‘(2) ELIGIBILITY.—An insolvent insured credit 

2 union is not eligible to be enrolled in a program es3 tablished under this subsection. 

4 ‘‘(3) FUNDING.—To carry out a program under 

5 this subsection, the Board may— 

6 ‘‘(A) establish assessments on insured 

7 credit unions that participate in such a pro8 gram; and 

9 ‘‘(B) use amounts available in the Fund. 

10 ‘‘(4) EXTENSION.—The National Credit Union 

11 Administration Board may extend the period de12 scribed in paragraph (1) for an additional 90 days 

13 if— 

14 ‘‘(A) the National Credit Union Adminis15 tration Board (upon a vote of not less than 

16 two-thirds of the members of such Board), the 

17 Board of Governors of the Federal Reserve Sys18 tem (upon a vote of not less than two-thirds of 

19 the members of such Board), and the Secretary 

20 of the Treasury (in consultation with the Presi21 dent) determines that the failure to extend such 

22 program would have serious adverse effects on 

23 financial stability or economic conditions in the 

24 United States; and 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
20 

•HR 10542 IH

1 ‘‘(B) the Secretary of the Treasury sub2 mits to Congress a report containing data and 

3 analysis, including data and analysis from the 

4 Board of Directors and the Board of Governors 

5 of the Federal Reserve System, justifying such 

6 extension. 

7 ‘‘(5) TESTIMONY.—Not later than 45 days after 

8 the establishment of a program under this sub9 section, the Chairman, the Chairman of the Board 

10 of Governors of the Federal Reserve System, and the 

11 Secretary of the Treasury shall provide testimony to 

12 the Committee on Financial Services of the House of 

13 Representatives and the Committee on Banking, 

14 Housing, and Urban Affairs of the Senate describing 

15 the data, analysis, and justification for establishing 

16 the program under this subsection. 

17 ‘‘(6) GAO REPORT.—Not later than 90 days 

18 after the establishment of a program under this sub19 section, the Comptroller General of the United 

20 States shall submit to Congress a report describing 

21 the establishment of such program. 

22 ‘‘(7) COVERED TRANSACTION ACCOUNT DE23 FINED.—In this subsection, the term ‘covered trans24 action account’ means a transaction account that is 

25 non-interest bearing or that pays interest materially 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
21 

•HR 10542 IH

1 below prevailing market rates, as determined by the 

2 National Credit Union Administration Board. 

3 ‘‘(8) TERMINATION.— 

4 ‘‘(A) IN GENERAL.—A program established 

5 under this subsection shall terminate not later 

6 than 270 days after the date of establishment 

7 unless the Board (upon a vote of not less than 

8 two-thirds of the members of such Board) and 

9 the Board of Governors of the Federal Reserve 

10 System (upon a vote of not less than two-thirds 

11 of the members of such Board) submits to the 

12 Secretary of the Treasury a written rec13 ommendation to not terminate the program, 

14 and— 

15 ‘‘(i) the Secretary of the Treasury— 

16 ‘‘(I) submits to Congress a report 

17 containing data and analysis to justify 

18 not terminating the program that in19 cludes data and analysis from the 

20 Board and the Board of Governors of 

21 the Federal Reserve System; and 

22 ‘‘(II) requests approval from 

23 Congress to extend the program for a 

24 specified period of time; and 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
22 

•HR 10542 IH

1 ‘‘(ii) a joint resolution of approval is 

2 enacted to extend the program. 

3 ‘‘(B) PROCEDURES FOR JOINT RESOLU4 TION OF APPROVAL.—The procedures provided 

5 for congressional consideration of a joint resolu6 tion under section 1105(d) of the Dodd-Frank 

7 Wall Street Reform and Consumer Protection 

8 Act shall apply to a joint resolution of approval 

9 described under subparagraph (A)(ii).’’. 

10 (c) MODIFICATION TO EXPEDITED PROCEDURES.— 

11 Section 1105(d) of the Dodd-Frank Wall Street Reform 

12 and Consumer Protection Act (12 U.S.C. 5612(d)) is 

13 amended— 

14 (1) by redesignating paragraph (4) as para15 graph (5); and 

16 (2) by inserting after paragraph (3) the fol17 lowing: 

18 ‘‘(4) CONSIDERATION IN THE HOUSE OF REP19 RESENTATIVES.—Upon receipt of a request under 

20 subsection (c), a joint resolution introduced in the 

21 House of Representatives in connection with such re22 quest shall be privileged.’’. 

Æ 


kjohnson on DSK7ZCZBW3PROD with $$_JOB