IB 
Union Calendar No. 623 
115TH CONGRESS 
2D SESSION 
H. R. 4537 
[Report No. 115–804, Part I] 
To preserve the State-based system of insurance regulation and provide great-
er oversight of and transparency on international insurance standards 
setting processes, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 4, 2017 
Mr. DUFFY (for himself, Mr. HECK, Mr. SHERMAN, Mr. ROSS, Mr. BUDD, 
Mr. CAPUANO, Mr. ROTHFUS, and Ms. TENNEY) introduced the following 
bill; which was referred to the Committee on Financial Services, and in 
addition to the Committee on Rules, for a period to be subsequently de-
termined by the Speaker, in each case for consideration of such provisions 
as fall within the jurisdiction of the committee concerned 
JULY 3, 2018 
Additional sponsors: Mr. ZELDIN, Mrs. LOVE, Mr. WILLIAMS, Mr. MESSER, 
and Mr. YOUNG of Iowa 
JULY 3, 2018 
Reported from the Committee on Financial Services with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
JULY 3, 2018 
Committee on Rules discharged; committed to the Committee of the Whole 
House on the State of the Union and ordered to be printed 
[For text of introduced bill, see copy of bill as introduced on December 4, 2017] 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘International Insurance 
Standards Act of 2018’’. 
SEC. 2. CONGRESSIONAL FINDINGS. 
The Congress finds the following: 
(1) The State-based system for insurance regula-
tion in the United States has served American con-
sumers well for more than 150 years and has fostered 
an open and competitive marketplace with a diversity 
of insurance products to the benefit of policyholders 
and consumers. 
(2) Protecting policyholders by regulating to en-
sure an insurer’s ability to pay claims has been the 
hallmark of the successful United States system and 
should be the paramount objective of domestic pruden-
tial regulation and emerging international standards. 
(3) The Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Public Law 111–203) re-
affirmed the State-based insurance regulatory system. 
SEC. 3. REQUIREMENT THAT INSURANCE STANDARDS RE-
FLECT UNITED STATES POLICY. 
(a) REQUIREMENT.—Parties representing the Federal 
Government in any international regulatory, standard-set-
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ting, or supervisory forum or in any negotiations of any 
international agreements relating to the prudential aspects 
of insurance shall not agree to, accede to, accept, or estab-
lish, and shall use their voice and shall vote to oppose, any 
proposed agreement or standard, including proposals devel-
oped by the International Association of Insurance Super-
visors (or a successor entity), unless such proposed agree-
ment or standard— 
(1) is consistent with and reflective of the exist-
ing United States system of insurance regulation, in-
cluding the primacy of policyholder protection in sol-
vency regulation; and 
(2) recognizes the existing United States system 
of insurance regulation as satisfying such proposals. 
(b) FEDERAL INSURANCE OFFICE FUNCTIONS.—Sub-
paragraph (E) of section 313(c)(1) of title 31, United States 
Code, is amended by inserting ‘‘Department of the Treasury 
of the’’ before ‘‘United States’’. 
(c) NEGOTIATIONS.—Nothing in this section shall be 
construed to prevent participation in negotiations of any 
proposed agreement or standard. 
SEC. 4. STATE INSURANCE REGULATOR INVOLVEMENT IN 
INTERNATIONAL STANDARD SETTING. 
In developing international insurance standards pur-
suant to section 3, and throughout the negotiations of such 
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standards, parties representing the Federal Government 
shall, on matters related to insurance, closely consult, co-
ordinate with, and include in such meetings, State insur-
ance commissioners or, at the option of the State insurance 
commissioners, designees of the insurance commissioners 
acting at their direction. 
SEC. 5. CONSULTATIONS. 
(a) CONSULTATION WITH CONGRESS.—Before initi-
ating negotiations to enter into an agreement under section 
3, during such negotiations, and before entering into any 
such agreement, parties representing the Federal Govern-
ment shall provide written notice to and consult with the 
Committee on Financial Services of the House of Represent-
atives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate, and any other relevant committees 
of jurisdiction, regarding— 
(1) the intention of the United States to partici-
pate in or enter into such negotiations; 
(2) the nature and objectives of the negotiations; 
(3) the implementation of the agreement, includ-
ing how it is consistent with and does not materially 
differ from or otherwise affect Federal or State laws 
or regulations; 
(4) the impact on the competitiveness of United 
States insurers; and 
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(5) the impact on United States consumers. 
(b) CONSULTATION WITH FEDERAL ADVISORY COM-
MITTEE ON INSURANCE.—Before entering into an agree-
ment under section 3, the Secretary of the Treasury shall 
consult with the Federal Advisory Committee on Insurance 
formed pursuant to section 313(h) of title 31, United States 
Code. 
(c) SUBMISSION AND LAYOVER PROVISIONS.—Parties 
representing the Federal Government may not sign the final 
text or otherwise agree to, accept, or establish an agreement 
under section 3 that would not have the force and effect 
of law before— 
(1) such parties submit to the committees speci-
fied in subsection (a), on a day in which both Houses 
of Congress are in session, a copy of the final legal 
text of the agreement; and 
(2) the later of— 
(A) the expiration of 90-day period begin-
ning on the date on which the copy of the final 
legal text of the agreement is submitted to the 
congressional committees under paragraph (1); 
or 
(B) if the President has vetoed a joint reso-
lution described in section 6(b) relating to the 
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agreement, the expiration of the 15-day period 
described in section 6(a)(2). 
(d) DELIVERY OF DOCUMENTS TO BOTH HOUSES.— 
Whenever, pursuant to this section, written notice or a doc-
ument is required to be transmitted to the Congress, copies 
of such notice or document shall be delivered to both Houses 
of Congress on the same day and shall be delivered to the 
Clerk of the House of Representatives if the House is not 
in session and to the Secretary of the Senate if the Senate 
is not in session. 
SEC. 6. CONGRESSIONAL REVIEW. 
(a) DISAPPROVAL.— 
(1) IN GENERAL.—In the case of any agreement 
under section 3 that would not have the force and ef-
fect of law, the United States shall not be considered 
a party to such agreement if, before the expiration of 
the 90-day period beginning on the day that the final 
legal text of the agreement is submitted to the Con-
gress pursuant to section 5(c)(1), a joint resolution 
described in subsection (b) is enacted into law. 
(2) VETO.—If the President vetoes the joint reso-
lution, the joint resolution shall be treated as enacted 
into law before the end of the 90-day period under 
paragraph (1) if both Houses of Congress vote to over-
ride such veto on or before the later of— 
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(A) the last day of such 90-day period; or 
(B) the last day of the 15-day period (ex-
cluding any day described in subsection (h)) be-
ginning on the date the Congress receives the veto 
message from the President. 
(b) CONTENTS OF RESOLUTION.—For purposes of this 
section, the term ‘‘resolution’’ means only a joint resolution 
of the two Houses of the Congress, that is introduced during 
the 60-day period beginning upon the submission to the 
Congress pursuant to section 5(c)(1) of the agreement to 
which such resolution relates, and the matter after the re-
solving clause of which is as follows: ‘‘That the Congress 
does not approve the agreement transmitted to the Congress 
pursuant to section 5(c)(1) of the International Insurance 
Standards Act of 2017, on llllll.’’, the blank space 
being filled with the appropriate date. 
(c) REFERENCE TO COMMITTEES.—All resolutions in-
troduced in the House of Representatives shall be referred 
to the Committee on Financial Services and all resolutions 
introduced in the Senate shall be referred to the Committee 
on Banking, Housing, and Urban Affairs. 
(d) DISCHARGE OF COMMITTEES.— 
(1) IN
GENERAL.—If the committee of either 
House to which a resolution has been referred has not 
reported it at the end of 30 days after its introduc-
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tion, not counting any day which is excluded under 
subsection (h), it is in order to move either to dis-
charge the committee from further consideration of the 
resolution or to discharge the committee from further 
consideration of any other resolution introduced with 
respect to the same matter, except that a motion to 
discharge— 
(A) may only be made on the second legisla-
tive day after the calendar day on which the 
Member making the motion announces to the 
House his intention to do so; and 
(B) is not in order after the committee has 
reported a resolution with respect to the same 
matter. 
(2) PRIVILEGE.—A motion to discharge under 
paragraph (1) may be made only by an individual 
favoring the resolution, and is highly privileged in the 
House and privileged in the Senate; and debate there-
on shall be limited to not more than 1 hour, the time 
to be divided in the House equally between those fa-
voring and those opposing the resolution, and to be 
divided in the Senate equally between, and controlled 
by, the majority leader and the minority leader or 
their designees. An amendment to the motion is not 
in order, and it is not in order to move to reconsider 
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the vote by which the motion is agreed to or disagreed 
to. 
(e) FLOOR CONSIDERATION IN THE HOUSE.— 
(1) IN GENERAL.—A motion in the House of 
Representatives to proceed to the consideration of a 
resolution shall be highly privileged and not debat-
able. An amendment to the motion shall not be in 
order, nor shall it be in order to move to reconsider 
the vote by which the motion is agreed to or disagreed 
to. 
(2) DEBATE; NO RECONSIDERATION.—Debate in 
the House of Representatives on a resolution shall be 
limited to not more than 20 hours, which shall be di-
vided equally between those favoring and those oppos-
ing the resolution. A motion further to limit debate 
shall not be debatable. No amendment to, or motion 
to recommit, the resolution shall be in order. It shall 
not be in order to move to reconsider the vote by 
which a resolution is agreed to or disagreed to. 
(3) CONSIDERATION OF OTHER MOTIONS.—Mo-
tions to postpone, made in the House of Representa-
tives with respect to the consideration of a resolution, 
and motions to proceed to the consideration of other 
business, shall be decided without debate. 
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(4) APPEALS TO DECISIONS OF CHAIR.—All ap-
peals from the decisions of the Chair relating to the 
application of the Rules of the House of Representa-
tives to the procedure relating to a resolution shall be 
decided without debate. 
(5) APPLICABILITY OF RULES.—Except to the ex-
tent specifically provided in the preceding provisions 
of this subsection, consideration of a resolution in the 
House of Representatives shall be governed by the 
Rules of the House of Representatives applicable to 
other resolutions in similar circumstances. 
(f) FLOOR CONSIDERATION IN THE SENATE.— 
(1) MOTION TO PROCEED.—A motion in the Sen-
ate to proceed to the consideration of a resolution 
shall be privileged. An amendment to the motion shall 
not be in order, nor shall it be in order to move to 
reconsider the vote by which the motion is agreed to 
or disagreed to. 
(2) DEBATE
ON
RESOLUTION.—Debate in the 
Senate on a resolution, and all debatable motions and 
appeals in connection therewith, shall be limited to 
not more than 20 hours, to be equally divided be-
tween, and controlled by, the majority leader and the 
minority leader or their designees. 
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(3) DEBATE ON MOTION OR APPEAL.—Debate in 
the Senate on any debatable motion or appeal in con-
nection with a resolution shall be limited to not more 
than 1 hour, to be equally divided between, and con-
trolled by, the mover and the manager of the resolu-
tion, except that in the event the manager of the reso-
lution is in favor of any such motion or appeal, the 
time in opposition thereto, shall be controlled by the 
minority leader or his designee. Such leaders, or ei-
ther of them, may, from time under their control on 
the passage of a resolution, allot additional time to 
any Senator during the consideration of any debat-
able motion or appeal. 
(4) MOTION TO LIMIT DEBATE.—A motion in the 
Senate to further limit debate on a resolution, debat-
able motion, or appeal is not debatable. No amend-
ment to, or motion to recommit, a resolution is in 
order in the Senate. 
(g) PROCEDURES IN THE SENATE.— 
(1) PROCEDURES.—Except as otherwise provided 
in this section, the following procedures shall apply in 
the Senate to a resolution to which this section ap-
plies: 
(A)(i) Except as provided in clause (ii), a 
resolution that has passed the House of Rep-
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resentatives shall, when received in the Senate, 
be referred to the Committee on Banking, Hous-
ing, and Urban Affairs for consideration in ac-
cordance with this section. 
(ii) If a resolution to which this section ap-
plies was introduced in the Senate before receipt 
of a resolution that has passed the House of Rep-
resentatives, the resolution from the House of 
Representatives shall, when received in the Sen-
ate, be placed on the calendar. If this clause ap-
plies, the procedures in the Senate with respect 
to a resolution introduced in the Senate that 
contains the identical matter as the resolution 
that passed the House of Representatives shall be 
the same as if no resolution had been received 
from the House of Representatives, except that 
the vote on passage in the Senate shall be on the 
resolution that passed the House of Representa-
tives. 
(B) If the Senate passes a resolution before 
receiving from the House of Representatives a 
joint resolution that contains the identical mat-
ter, the joint resolution shall be held at the desk 
pending receipt of the joint resolution from the 
House of Representatives. Upon receipt of the 
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joint resolution from the House of Representa-
tives, such joint resolution shall be deemed to be 
read twice, considered, read the third time, and 
passed. 
(2) NON-IDENTICAL RESOLUTIONS.—If the texts 
of joint resolutions described in this section con-
cerning any matter are not identical— 
(A) the Senate shall vote passage on the res-
olution introduced in the Senate; and 
(B) the text of the joint resolution passed by 
the Senate shall, immediately upon its passage 
(or, if later, upon receipt of the joint resolution 
passed by the House), be substituted for the text 
of the joint resolution passed by the House of 
Representatives, and such resolution, as amend-
ed, shall be returned with a request for a con-
ference between the two Houses. 
(3) CONSIDERATION OF VETO MESSAGE.—Con-
sideration in the Senate of any veto message with re-
spect to a joint resolution described in subsection (b), 
including consideration of all debatable motions and 
appeals in connection therewith, shall be limited to 10 
hours, to be equally divided between, and controlled 
by, the majority leader and the minority leader or 
their designees. 
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(h) COMPUTATION OF PERIOD.—For purposes of sub-
section (a)(1) of this section and subsection (c)(2) of section 
5, the 90-day period referred to in such subsections shall 
be computed by excluding— 
(1) the days on which either House is not in ses-
sion because of an adjournment of more than 3 days 
to a day certain or an adjournment of the Congress 
sine die; and 
(2) any Saturday and Sunday, not excluded 
under paragraph (1), when either House is not in ses-
sion. 
(i) EXERCISE OF RULEMAKING POWER.—This section 
is enacted by the Congress— 
(1) as an exercise of the rulemaking power of the 
House of Representatives and the Senate, respectively, 
and as such they are deemed a part of the rules of 
each House, respectively, but applicable only with re-
spect to the procedure to be followed in that House in 
the case of resolutions described in subsection (b); and 
they supersede other rules only to the extent that they 
are inconsistent therewith; and 
(2) with full recognition of the constitutional 
right of either House to change the rules (so far as re-
lating to the procedure of that House) at any time, 
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in the same manner and to the same extent as in the 
case of any other rule of that House. 
(j) RULE OF CONSTRUCTION.—This section, and any 
failure to enact a resolution under this section, shall not 
be construed to be an endorsement of or to establish or ex-
pand any authority to enter into or implement an agree-
ment described in section 3 that is not otherwise provided 
for under Federal law. 
SEC. 7. COVERED AGREEMENTS. 
(a) PREEMPTION OF STATE INSURANCE MEASURES.— 
Subsection (f) of section 313 of title 31, United States Code, 
is amended by striking ‘‘Director’’ each place such term ap-
pears and inserting ‘‘Secretary’’. 
(b) DEFINITION.—Paragraph (2) of section 313(r) of 
title 31, United States Code, is amended— 
(1) in subparagraph (A), by striking ‘‘and’’ at 
the end; 
(2) in subparagraph (B), by striking the period 
at the end and inserting ‘‘; and’’; and 
(3) by adding at the end the following new sub-
paragraph: 
‘‘(C) applies only on a prospective basis.’’. 
(c) CONSULTATION; SUBMISSION AND LAYOVER; CON-
GRESSIONAL REVIEW.—Section 314 of title 31, United 
States Code is amended— 
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(1) in subsection (b)— 
(A) in paragraph (2)(C), by striking ‘‘laws’’ 
and inserting the following: ‘‘and Federal law, 
and the nature of any changes in the laws of the 
United States or the administration of such laws 
that would be required to carry out a covered 
agreement’’; and 
(B) by adding at the end the following new 
paragraph: 
‘‘(3) ACCESS TO NEGOTIATING TEXTS AND OTHER 
DOCUMENTS.—Congressional committees and staff 
with proper security clearances shall be given access 
to United States negotiating proposals, consolidated 
draft texts, and other pertinent documents related to 
the negotiations, including classified materials.’’; 
(2) in subsection (c)— 
(A) in the matter preceding paragraph (1), 
by striking ‘‘only if—’’ and inserting the fol-
lowing: ‘‘only if, before signing the final legal 
text or otherwise entering into the agreement— 
’’; 
(B) in paragraph (1), by striking ‘‘congres-
sional committees specified in subsection (b)(1)’’ 
and inserting ‘‘congressional committees and to 
staff with proper security clearances’’; and 
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(C) by striking paragraph (2) and inserting 
the following new paragraph: 
‘‘(2)(A) the 90-day period beginning on the date 
on which the copy of the final legal text of the agree-
ment is submitted under paragraph (1) to the con-
gressional committees and staff has expired; and 
‘‘(B) if the President has vetoed a joint resolu-
tion described in subsection (d)(2) relating to the 
agreement, the 15-day period described in subsection 
(d)(1)(B)(ii) has expired.’’; and 
(3) by adding at the end the following new sub-
sections: 
‘‘(d) CONGRESSIONAL REVIEW.— 
‘‘(1) DISAPPROVAL.— 
‘‘(A) IN
GENERAL.—A covered agreement 
shall have no force and effect in the United 
States if, before the expiration of the 90-day pe-
riod beginning on the day that the final legal 
text of the agreement is submitted to the Congress 
pursuant to subsection (c), a joint resolution de-
scribed in paragraph (2) is enacted into law. 
‘‘(B) VETO.—If the President vetoes the 
joint resolution, the joint resolution shall be 
treated as enacted into law before the end of the 
90-day period under subparagraph (A) if both 
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Houses of Congress vote to override such veto on 
or before the later of— 
‘‘(i) the last day of such 90-day period; 
or 
‘‘(ii) the last day of the 15-day period 
(excluding any day described in paragraph 
(8)) beginning on the date the Congress re-
ceives the veto message from the President. 
‘‘(2) CONTENTS OF RESOLUTIONS.—For purposes 
of this subsection, the term ‘resolution’ means only a 
joint resolution of the two Houses of the Congress, 
that is introduced during the 60-day period beginning 
upon the submission to the Congress pursuant to sub-
section (c) of the covered agreement to which such res-
olution relates, and the matter after the resolving 
clause of which is as follows: ‘That the Congress does 
not approve the covered agreement transmitted to the 
Congress pursuant to section 314(c) of title 31, 
United States Code, on llllll.’, the blank 
space being filled with the appropriate date. 
‘‘(3) REFERENCE TO COMMITTEES.—All resolu-
tions introduced in the House of Representatives shall 
be referred to the Committee on Financial Services 
and all resolutions introduced in the Senate shall be 
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referred to the Committee on Banking, Housing, and 
Urban Affairs. 
‘‘(4) DISCHARGE OF COMMITTEES.— 
‘‘(A) IN GENERAL.—If the committee of ei-
ther House to which a resolution has been re-
ferred has not reported it at the end of 30 days 
after its introduction, not counting any day 
which is excluded under paragraph (8), it is in 
order to move either to discharge the committee 
from further consideration of the resolution or to 
discharge the committee from further consider-
ation of any other resolution introduced with re-
spect to the same matter, except that a motion 
to discharge— 
‘‘(i) may only be made on the second 
legislative day after the calendar day on 
which the Member making the motion an-
nounces to the House his intention to do so; 
and 
‘‘(ii) is not in order after the com-
mittee has reported a resolution with respect 
to the same matter. 
‘‘(B) PRIVILEGE.—A motion to discharge 
under subparagraph (A) may be made only by 
an individual favoring the resolution, and is 
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highly privileged in the House and privileged in 
the Senate; and debate thereon shall be limited to 
not more than 1 hour, the time to be divided in 
the House equally between those favoring and 
those opposing the resolution, and to be divided 
in the Senate equally between, and controlled by, 
the majority leader and the minority leader or 
their designees. An amendment to the motion is 
not in order, and it is not in order to move to 
reconsider the vote by which the motion is agreed 
to or disagreed to. 
‘‘(5) FLOOR CONSIDERATION IN THE HOUSE.— 
‘‘(A) IN GENERAL.—A motion in the House 
of Representatives to proceed to the consideration 
of a resolution shall be highly privileged and not 
debatable. An amendment to the motion shall not 
be in order, nor shall it be in order to move to 
reconsider the vote by which the motion is agreed 
to or disagreed to. 
‘‘(B) DEBATE; NO RECONSIDERATION.—De-
bate in the House of Representatives on a resolu-
tion shall be limited to not more than 20 hours, 
which shall be divided equally between those fa-
voring and those opposing the resolution. A mo-
tion further to limit debate shall not be debat-
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able. No amendment to, or motion to recommit, 
the resolution shall be in order. It shall not be 
in order to move to reconsider the vote by which 
a resolution is agreed to or disagreed to. 
‘‘(C) 
CONSIDERATION
OF
OTHER
MO-
TIONS.—Motions to postpone, made in the House 
of Representatives with respect to the consider-
ation of a resolution, and motions to proceed to 
the consideration of other business, shall be de-
cided without debate. 
‘‘(D) APPEALS TO DECISIONS OF CHAIR.— 
All appeals from the decisions of the Chair relat-
ing to the application of the Rules of the House 
of Representatives to the procedure relating to a 
resolution shall be decided without debate. 
‘‘(E) APPLICABILITY OF RULES.—Except to 
the extent specifically provided in the preceding 
provisions of this paragraph, consideration of a 
resolution in the House of Representatives shall 
be governed by the Rules of the House of Rep-
resentatives applicable to other resolutions in 
similar circumstances. 
‘‘(6) FLOOR CONSIDERATION IN THE SENATE.— 
‘‘(A) MOTION TO PROCEED.—A motion in 
the Senate to proceed to the consideration of a 
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resolution shall be privileged. An amendment to 
the motion shall not be in order, nor shall it be 
in order to move to reconsider the vote by which 
the motion is agreed to or disagreed to. 
‘‘(B) DEBATE ON RESOLUTION.—Debate in 
the Senate on a resolution, and all debatable mo-
tions and appeals in connection therewith, shall 
be limited to not more than 20 hours, to be 
equally divided between, and controlled by, the 
majority leader and the minority leader or their 
designees. 
‘‘(C) DEBATE ON MOTION OR APPEAL.—De-
bate in the Senate on any debatable motion or 
appeal in connection with a resolution shall be 
limited to not more than 1 hour, to be equally 
divided between, and controlled by, the mover 
and the manager of the resolution, except that in 
the event the manager of the resolution is in 
favor of any such motion or appeal, the time in 
opposition thereto, shall be controlled by the mi-
nority leader or his designee. Such leaders, or ei-
ther of them, may, from time under their control 
on the passage of a resolution, allot additional 
time to any Senator during the consideration of 
any debatable motion or appeal. 
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‘‘(D) MOTION TO LIMIT DEBATE.—A motion 
in the Senate to further limit debate on a resolu-
tion, debatable motion, or appeal is not debat-
able. No amendment to, or motion to recommit, 
a resolution is in order in the Senate. 
‘‘(7) PROCEDURES IN THE SENATE.— 
‘‘(A) PROCEDURES.—Except as otherwise 
provided in this section, the following procedures 
shall apply in the Senate to a resolution to 
which this subsection applies: 
‘‘(i)(I) Except as provided in subclause 
(II), a resolution that has passed the House 
of Representatives shall, when received in 
the Senate, be referred to the Committee on 
Banking, Housing, and Urban Affairs for 
consideration in accordance with this sub-
section. 
‘‘(II) If a resolution to which this sub-
section applies was introduced in the Sen-
ate before receipt of a resolution that has 
passed the House of Representatives, the res-
olution from the House of Representatives 
shall, when received in the Senate, be placed 
on the calendar. If this subclause applies, 
the procedures in the Senate with respect to 
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a resolution introduced in the Senate that 
contains the identical matter as the resolu-
tion that passed the House of Representa-
tives shall be the same as if no resolution 
had been received from the House of Rep-
resentatives, except that the vote on passage 
in the Senate shall be on the resolution that 
passed the House of Representatives. 
‘‘(ii) If the Senate passes a resolution 
before receiving from the House of Rep-
resentatives a joint resolution that contains 
the identical matter, the joint resolution 
shall be held at the desk pending receipt of 
the joint resolution from the House of Rep-
resentatives. Upon receipt of the joint reso-
lution from the House of Representatives, 
such joint resolution shall be deemed to be 
read twice, considered, read the third time, 
and passed. 
‘‘(B) NON-IDENTICAL RESOLUTIONS.—If the 
texts of joint resolutions described in this sub-
section concerning any matter are not iden-
tical— 
‘‘(i) the Senate shall vote passage on 
the resolution introduced in the Senate; and 
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‘‘(ii) the text of the joint resolution 
passed by the Senate shall, immediately 
upon its passage (or, if later, upon receipt 
of the joint resolution passed by the House), 
be substituted for the text of the joint resolu-
tion passed by the House of Representatives, 
and such resolution, as amended, shall be 
returned with a request for a conference be-
tween the two Houses. 
‘‘(C) CONSIDERATION OF VETO MESSAGE.— 
Consideration in the Senate of any veto message 
with respect to a joint resolution described in 
paragraph (2), including consideration of all de-
batable motions and appeals in connection there-
with, shall be limited to 10 hours, to be equally 
divided between, and controlled by, the majority 
leader and the minority leader or their designees. 
‘‘(8) COMPUTATION OF PERIOD.—For purposes of 
paragraph (1)(A) of this subsection and paragraph 
(2)(A) of subsection (c), the 90-day period referred to 
in such paragraph shall be computed by excluding— 
‘‘(A) the days on which either House is not 
in session because of an adjournment of more 
than 3 days to a day certain or an adjournment 
of the Congress sine die; and 
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‘‘(B) any Saturday and Sunday, not ex-
cluded under subparagraph (A), when either 
House is not in session. 
‘‘(9) EXERCISE OF RULEMAKING POWER.—This 
subsection is enacted by the Congress— 
‘‘(A) as an exercise of the rulemaking power 
of the House of Representatives and the Senate, 
respectively, and as such they are deemed a part 
of the rules of each House, respectively, but ap-
plicable only with respect to the procedure to be 
followed in that House in the case of resolutions 
described in paragraph (2); and they supersede 
other rules only to the extent that they are incon-
sistent therewith; and 
‘‘(B) with full recognition of the constitu-
tional right of either House to change the rules 
(so far as relating to the procedure of that 
House) at any time, in the same manner and to 
the same extent as in the case of any other rule 
of that House. 
‘‘(e) REQUIREMENTS FOR CONSULTATIONS.—Through-
out the negotiations of a covered agreement, parties rep-
resenting the Federal Government shall closely consult and 
coordinate with, and include in such meetings, State insur-
ance commissioners or, at the option of the State insurance 
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commissioners, designees of the insurance commissioners 
acting at their direction.’’. 
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Union Calendar No. 623 
115TH CONGRESS 
2D SESSION 
H. R. 4537 
[Report No. 115–804, Part I] 
A BILL 
To preserve the State-based system of insurance 
regulation and provide greater oversight of and 
transparency on international insurance stand-
ards setting processes, and for other purposes. 
JULY 3, 2018 
Reported from the Committee on Financial Services with 
an amendment 
JULY 3, 2018 
Committee on Rules discharged; committed to the Com-
mittee of the Whole House on the State of the Union 
and ordered to be printed 
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