jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Insurance Regulation
Subject: Transportation and public works
Date: 2012-12-04 00:00:00

Repeals the requirement that the Secretary of Transportation (DOT) prescribe regulations to require passenger motor vehicle dealers to distribute to prospective buyers information comparing insurance costs for different makes and models of passenger motor vehicles based on damage susceptibility and crashworthiness. Declares any regulations promulgated pursuant to that requirement to have no force or effect. Directs the Secretary, after providing for public comment, to study and report to Congress on the most useful data, format, and method for providing simple and understandable damage susceptibility information to consumers.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2013-02-05 00:00:00

Terrorism Risk Insurance Act of 2002 Reauthorization Act of 2013 or the TRIA Reauthorization Act of 2013 - Amends the Terrorism Risk Insurance Act of 2002 to extend the Terrorism Insurance Program until December 31, 2019 (under current law the Program expires on December 31, 2014).

Requires the Secretary of the Treasury to collect all required terrorism loss risk-spreading premiums for any act of terrorism that occurs on or after January 1, 2012, by September 30, 2024 (currently, by September 30, 2017).
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2013-02-14 00:00:00

Homeowners' Defense Act of 2013 - Establishes the National Catastrophe Risk Consortium, as a non-federal, non-profit entity, to ensure the availability and affordability of homeowners' insurance coverage for catastrophic events.

Directs the Consortium to: (1) maintain an inventory of catastrophe risk obligations held by state reinsurance funds, state residual insurance market entities, and state-sponsored providers of natural catastrophe insurance; (2) issue, on a conduit basis, securities and other financial instruments linked to catastrophe risks insured or reinsured through Consortium members; (3) coordinate reinsurance contracts; (4) act as a centralized repository of state risk information accessible by certain private-market participants; and (5) establish a database to perform research and analysis that encourages standardization of the risk-linked securities market.

 Shields the federal government and the Consortium from liability for Consortium actions.
Topic: Domestic Commerce — Insurance Regulation
Subject: Crime and law enforcement
Date: 2013-04-09 00:00:00

Electronic Life Safety and Security Systems Federal Background Check Act of 2013 - Directs the Attorney General to establish a method to permit employers in the electronic life safety and security systems industry to request a fitness determination based on state and federal fingerprint-based criminal history background checks.

 Requires the Attorney General to:

 inform such employers about how to request background checks; complete a check of the national criminal history records system; establish procedures for the secure receipt of criminal history records; make determinations regarding whether the criminal history records received in response to a background check indicate a criminal history that may bear on the employee's or prospective employee's fitness for employment in such industry based on whether that individual has, during the preceding 10 years, been convicted of or imprisoned for a felony or an offense involving dishonesty, false statement, or the use of force against another; convey such fitness determination to the employer requesting the background check; provide an affected employee or prospective employee his or her criminal history records and notification of the right to challenge the accuracy or completeness of such records or to withdraw consent to participate in the determination; collect fees from employers to offset fitness determination costs; and issue regulations to ensure the enforcement of nondisclosure requirements for criminal history records.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2013-05-09 00:00:00

Fostering Resilience to Terrorism Act of 2013 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of an "act of terrorism" to mean any act that is certified as meeting the specified criteria for such an act by the Secretary of Homeland Security (DHS), in concurrence with the Secretary of the Treasury (currently, by the Secretary of the Treasury in concurrence with the Secretary of State).

Extends the Terrorism Insurance Program until December 31, 2024 (under current law the Program expires on December 31, 2014).

Requires reports in 2017, 2020, and 2030 on the findings of the President's Working Group on Financial Markets pursuant to an ongoing analysis regarding the long-term availability and affordability of insurance for terrorism risk.

Directs the DHS Secretary to: (1) provide to insureds under the Program, through the Secretary of the Treasury, timely homeland security information, including terrorism risk information, at the appropriate classification level and information on best practices to foster resilience to a terrorist act; and (2) conduct research to determine the extent to which such insureds, particularly insureds in critical infrastructure sectors, incorporate such best practices information into their business operations.
Topic: Domestic Commerce — Insurance Regulation
Subject: Taxation
Date: 2013-05-20 00:00:00

Amends the Internal Revenue Code to exclude from the taxable income of a life insurance company or other insurance company: (1) any non-taxed reinsurance premium; (2) any additional amount paid by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid; and (3) any return premium, ceding commission, reinsurance recovered, or other amount received by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2013-05-23 00:00:00

Terrorism Risk Insurance Program Reauthorization Act of 2013 - Amends the Terrorism Risk Insurance Act of 2002 to extend from December 31, 2014, through December 31, 2024, the Terrorism Risk Insurance program.

Extends to September 30, 2027, the deadline by which the Secretary of the Treasury is required to collect all mandatory premiums for any act of terrorism occurring on or after January 1, 2012.

Requires reports in 2017, 2020, and 2023 on the findings of the President's Working Group on Financial Markets pursuant to an ongoing analysis regarding the long-term availability and affordability of (market conditions for) terrorism risk insurance.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2014-05-01 00:00:00

Flood Insurance Market Parity and Modernization Act of 2014 - Amends the Flood Disaster Protection Act of 1973 to redefine "private flood insurance" to include a policy issued by an insurance company that is eligible as a nonadmitted insurer to provide insurance in the state or jurisdiction where the property to be insured is located.
Topic: Domestic Commerce — Insurance Regulation
Subject: Taxation
Date: 2014-05-09 00:00:00

Amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $2.025 million (from $1.2 million), with an annual inflation adjustment after 2014.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2014-07-10 00:00:00

Requires the Director of the Federal Insurance Office (in the Department of the Treasury) to study whether the insurance industry engages in the illegal practices of insurance steering or redlining, including an investigation of insurance products, pricing, promotions, and placement of services being offered to consumers in the United States.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2014-07-31 00:00:00

Captive Insurers Clarification Act - Amends the Nonadmitted and Reinsurance Reform Act of 2010 to define "captive insurance company" as an insurance company wholly owned directly or indirectly: (1) by a single parent company, and whose primary purpose is to insure the risks of that single parent company or its affiliates; (2) by a group of companies, and whose primary purpose is to insure the risks of that group or its affiliates; and (3) by an industry, trade, or service group or association, and whose primary purpose is to insure the risks of any member in that group or association, including any member affiliate.

Excludes a captive insurance company from the meaning of a "nonadmitted insurer" (that is not licensed to engage in the business of insurance in a state), and from any requirements (including state tax requirements) applying to a nonadmitted insurer.
Topic: Domestic Commerce — Insurance Regulation
Subject: Taxation
Date: 2013-07-23 00:00:00

Amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $2.012 million (from $1.2 million), with an annual inflation adjustment after 2013.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2014-07-31 00:00:00

Captive Insurers Clarification Act - Amends the Nonadmitted and Reinsurance Reform Act of 2010 to define "captive insurance company" as an insurance company wholly owned directly or indirectly: (1) by a single parent company and whose primary purpose is to insure the risks of that single parent company or its affiliates; (2) by a group of companies and whose primary purpose is to insure the risks of that group or its affiliates; and (3) by an industry, trade, or service group or association, and whose primary purpose is to insure the risks of any member in that group or association, including any member affiliate.

Excludes a captive insurance company from the meaning of a "nonadmitted insurer" (that is not licensed to engage in the business of insurance in a state), and from any requirements (including state tax requirements) applying to a nonadmitted insurer.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2015-03-19 00:00:00

Policyholder Protection Act of 2015

 (Sec. 2) This bill amends the Federal Deposit Insurance Act to declare that any action of the Federal Deposit Insurance Corporation (FDIC) that requires a bank holding company to provide funds or other assets to a subsidiary depository institution is neither effective nor enforceable with respect to a savings and loan holding company that is also an insurance company, an affiliate of an insured depository institution that is an insurance company, or any other company that is an insurance company and directly or indirectly controls an insured depository institution (entities) if:

 such funds or assets are to be provided by the entity, and the relevant state insurance authority determines that such an action would have a materially adverse effect on the entity's financial condition. The bill declares that requiring a bank holding company that is an insurance company to serve as a source of financial strength shall be deemed the kind of action of the Board of Governors of the Federal Reserve System that requires a bank holding company to provide funds or other assets to a subsidiary depository institution for specified purposes of the Bank Holding Company Act of 1956.

The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended, with respect to systemic risk determination and the treatment of insurance companies and their subsidiaries, to authorize the FDIC to stand in the place of the appropriate regulatory agency and file a judicial action to place such companies into orderly rehabilitation under state law if the appropriate regulatory agency has not done so.

The FDIC, when funding the orderly liquidation of an insurance company or its subsidiary, shall notify the relevant state insurance authority promptly of its intention to take a lien on the company's assets.

The FDIC may take such a lien only: to secure repayment of funds made available to such covered financial company or covered subsidiary; and if it determines that the lien will neither unduly impede nor delay the liquidation or rehabilitation of the insurance company, or the recovery by its policyholders.
Topic: Domestic Commerce — Insurance Regulation
Subject: Taxation
Date: 2015-04-14 00:00:00

This bill amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $2.2 million (from $1.2 million), with an annual inflation adjustment to such increased amount after 2015.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2015-04-30 00:00:00

International Insurance Standards Transparency and Policyholder Protection Act of 2015 

This bill prescribes negotiating objectives for international insurance regulatory frameworks, including: (1) standards, requirements, and rules focused solely upon protection of policy holders, as reflected in the U.S. solvency regime; and (2) a negotiated international insurance regulatory framework that recognizes U.S. prudential measures as equivalent to foreign measures.

U.S. representatives are prohibited from agreeing to, accepting or establishing , any international standard applicable to:

 insurers, capital standards, and rules designed for banks; any insurer that has not been designated a systemically important financial institution under U.S. law or a global systemically important insurer by the Financial Stability Oversight Council, capital standards and rules designed for systemically important bank or non-bank financial institutions, and any capital standard or rule governing U.S. insurance entities (except entities designated under the Dodd-Frank Wall Street Reform and Consumer Protection Act) unless it is designed solely to help ensure that sufficient funds are available to pay claims to an insurer's policyholders in the event of the entity's liquidation. The President must fulfill specified congressional consultation and public notice requirements with respect to any international insurance regulatory framework.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2015-06-23 00:00:00

Equality in Insurance Act of 2015 

This bill requires an insurer, when rating and underwriting any insurance policy that takes into consideration the marital status of the proposed insured, to consider the proposed insured to be married if the proposed insured is in a legal marriage, a civil union, or a domestic partnership with substantially the same legal obligations and consequences as a legal marriage under the laws of any jurisdiction (including any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, the Virgin Islands, American Samoa, or any foreign jurisdiction).

Any person aggrieved by a violation of this Act may bring a civil action for damages and relief, including equitable relief.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2015-07-09 00:00:00

Claims Licensing Advancement for Interstate Matters Act or the CLAIM Act

This bill authorizes an independent insurance claims adjuster to apply to the National Association of Registered Agents and Brokers for Membership for the purpose of licensure in any state that requires a license for such adjusters that is not among such states that have enacted, within four years of this Act's enactment: (1) uniform laws and regulations governing the licensure of individuals and entities authorized to adjust claims within the state, and (2) reciprocity laws and regulations governing the licensure of nonresident individuals and entities authorized to adjust such claims within those states.

The Department of the Treasury must annually determine a state's continued compliance with such requirements.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2015-10-21 00:00:00

Nonprofit Property Protection Act

This bill:

 amends the Liability Risk Retention Act of 1986 to rename it the Risk Retention Act of 1986; and exclude from "commercial insurance" covered by the Act any health, life, or disability insurance or workers compensation insurance or express contractual obligations owed to a consumer as a result of a personal, family, or household transaction, where the consumer pays a separate consideration for the express contractual obligation. The bill expands the kinds of state laws pertaining to business insurance from which a risk retention group shall be exempt to include laws pertaining to other lines of commercial insurance offered by a risk retention group to an entity organized and operated exclusively as a federal tax-exempt nonprofit charitable or educational institution, as long as the group meets specified criteria.
Topic: Domestic Commerce — Insurance Regulation
Subject: Taxation
Date: 2016-09-08 00:00:00

This bill amends the Internal Revenue Code to modify the tax treatment of certain life insurance contract transactions.

The bill establishes reporting requirements for acquisitions of life insurance contracts in a reportable policy sale. Specified details must be reported regarding:

 the payments, contracts, and people involved in the acquisition; the seller's basis; and payments of death benefits. A "reportable policy sale" is the acquisition of an interest in a life insurance contract, directly or indirectly, if the acquirer has no substantial family, business, or financial relationship with the insured apart from the acquirer's interest in such life insurance contract.

The bill also: (1) specifies that no basis adjustment shall be made for mortality, expense, or other reasonable charges incurred under an annuity or life insurance contract; and (2) exempts the transfer of a life insurance contract, or any interest therein, in a reportable policy sale from the transfer for valuable consideration rule.

(Under current law, the transfer for valuable consideration rule provides that, if a life insurance contract or an interest in a contract is transferred for a valuable consideration, the tax exclusion for amounts received under a life insurance contract due to the death of the insured is limited to the sum of the actual value of the consideration and the premiums and other amounts subsequently paid by the transferee.)
Topic: Domestic Commerce — Insurance Regulation
Subject: Taxation
Date: 2016-09-28 00:00:00

This bill amends the Internal Revenue Code to exclude from the taxable income of a life insurance company or other insurance company: (1) any non-taxed reinsurance premium; (2) any additional amount paid by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid; and (3) any return premium, ceding commission, reinsurance recovered, or other amount received by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2016-12-05 00:00:00

U.S. Insurance Regulation Works Act of 2016

This bill requires parties representing the federal government on international insurance regulatory proposals to ensure that any proposals they assent to:

 are consistent with, and reflective of, existing federal and state insurance laws and regulations, including the primacy of policyholder protection in solvency regulation; and recognize existing federal and state laws and regulations as satisfying such proposals. Federal government representatives must consult with, and seek to include, state insurance commissioners in meetings of any international regulatory, standard-setting, or supervisory forum or in any negotiations of international agreements relating to insurance.
Topic: Domestic Commerce — Insurance Regulation
Subject: Finance and financial sector
Date: 2015-03-19 00:00:00

Policyholder Protection Act of 2015

 Amends the Federal Deposit Insurance Act to declare that any regulation, order, or other action of the Board of Governors of the Federal Reserve System that requires a bank holding company to provide funds or other assets to a subsidiary depository institution shall not be effective nor enforceable with respect to an entity that is a savings and loan holding company that is also an insurance company, an affiliate of an insured depository institution that is an insurance company, or any other company that is an insurance company and that directly or indirectly controls an insured depository institution if: (1) such funds or assets are to be provided by the entity, and (2) the state insurance authority for the insurance company determines that such an action would have a materially adverse effect on the entity's financial condition.Declares that requiring a bank holding company that is an insurance company or such an entity to serve as a source of financial strength shall be deemed the kind of action of the Board to which this Act applies.

Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, with respect to systemic risk determination and the treatment of insurance companies and their subsidiaries, to authorize the Federal Deposit Insurance Corporation (FDIC) to stand in the place of the appropriate regulatory agency and file a judicial action to place such companies into orderly rehabilitation under state law if the appropriate regulatory agency has not done so.

Requires the FDIC, when funding the orderly liquidation of an insurance company or its subsidiary, to notify the relevant state insurance authority promptly of its intention to take a lien on the company's assets.

Prohibits the FDIC from taking such a lien if the state insurance authority informs it that doing so would have a materially adverse effect upon the insurance company's policyholders.
Topic: Domestic Commerce — Insurance Regulation
Subject: Taxation
Date: 2015-04-14 00:00:00

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

(Sec. 1) This bill amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $2.2 million (from $1.2 million), with an annual inflation adjustment to such increased amount after 2015. This increase is applicable to taxable years beginning after the enactment of this Act.

The Department of the Treasury must submit to the Senate Finance Committee by February 11, 2016, a report on the abuse of captive insurance companies for estate planning purposes, including legislative recommendations for addressing any such abuses.

(Sec. 2) This bill also increases from 30% to 45% the rate of the continuous levy on payments made after 180 days after the enactment of this Act to Medicare providers and suppliers for unpaid taxes.