3.0.0 4565 2022-11-01T13:49:45Z 2022-11-01T13:49:45Z House HR 2019-09-27 116 [Congressional Record Volume 165, Number 157 (Friday, September 27, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LUETKEMEYER:H.R. 4565.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 of the United StatesConstitution.[Page H8082]]]> hsba00 Financial Services Committee House Standing Referred to 2019-09-27T13:00:17Z 2019-09-27 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-09-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-09-27 Introduced in House IntroReferral 1000 9 Library of Congress L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 N Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Banking and financial institutions regulation Congressional oversight Credit and credit markets Economic performance and conditions Government information and archives Government studies and investigations Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2019-09-27 Introduced in House 2020-12-01T20:28:07Z Responsible Accounting Standards Act of 2019

This bill requires a standard setting body to meet certain requirements when establishing generally accepted accounting principles for purposes of securities laws. Specifically, the standard setting body must follow certain administrative procedures when adopting accounting principles.

The Securities and Exchange Commission may recognize an accounting principle if the standard setting body considers the impact the accounting principle will have on the U.S. economy, market stability, and the availability of credit.

]]> Responsible Accounting Standards Act of 2019 Display Title Responsible Accounting Standards Act of 2019 Official Title as Introduced To amend the Securities Act of 1933 to require the Securities and Exchange Commission to issue a rule to apply the Administrative Procedure Act to the adoption of accounting principles by the standard setting body, and to require the standard setting body to consider, in adopting accounting principles, the impact such principles will have on the broader U.S. economy, market stability, and availability of credit. Introduced in House IH Short Title(s) as Introduced Responsible Accounting Standards Act of 2019 Introduced in House IH Introduced in House 2019-09-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr4565ih/xml/BILLS-116hr4565ih.xml 2019-09-27 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.