[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 403 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 403

To amend title I of the Employee Retirement Income Security Act of 1974 
  to require persons who are plan administrators of employee pension 
benefit plans or provide administrative services to such plans, and who 
also provide automobile insurance coverage or provide persons offering 
such coverage identifying information relating to plan participants or 
   beneficiaries, to submit to the Federal Trade Commission certain 
      information relating to such automobile insurance coverage.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 6, 2001

 Mr. Andrews introduced the following bill; which was referred to the 
                Committee on Education and the Workforce

_______________________________________________________________________

                                 A BILL


 
To amend title I of the Employee Retirement Income Security Act of 1974 
  to require persons who are plan administrators of employee pension 
benefit plans or provide administrative services to such plans, and who 
also provide automobile insurance coverage or provide persons offering 
such coverage identifying information relating to plan participants or 
   beneficiaries, to submit to the Federal Trade Commission certain 
      information relating to such automobile insurance coverage.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Truth in Automobile Insurance Rates 
Act of 2001''.

SEC. 2. INFORMATION REQUIRED TO BE SUBMITTED TO THE FEDERAL TRADE 
              COMMISSION RELATING TO AUTOMOBILE INSURANCE COVERAGE.

    (a) In General.--Section 101 of the Employee Retirement Income 
Security Act of 1974 (29 U.S.C. 1021) is amended by inserting after 
subsection (e) the following new subsection:
    ``(f) Submission to the Federal Trade Commission of Certain 
Information Relating to Automobile Insurance Coverage.--
            ``(1) In general.--Any person who is, during any calendar 
        year, the plan administrator of an employee pension benefit 
        plan or provides administrative services to such a plan and 
        who--
                    ``(A) also offers automobile insurance coverage 
                during such year in a State in which a participant or 
                beneficiary under the plan resides, or
                    ``(B) provides during such calendar year to any 
                person offering automobile insurance coverage in such 
                State any identifying information relating to any 
                participant or beneficiary under the plan,
        shall provide annually to the Federal Trade Commission the 
        information described in paragraph (2). Such person shall 
        certify annually to the Secretary compliance with the 
        requirements of this subsection.
            ``(2) Required information.--
                    ``(A) In general.--The information described in 
                this paragraph consists of the following:
                            ``(i) The total amount collected in the 
                        year reported on, by each person specified in 
                        subparagraph (B), in insurance premiums on 
                        automobile insurance from automobile insurance 
                        policyholders in the State.
                            ``(ii) The total amount that each person 
                        specified in subparagraph (B) paid out in the 
                        year reported on in automobile insurance claims 
                        in response to the claims filed by automobile 
                        insurance policyholders in such State.
                            ``(iii) The total amount added in the year 
                        reported on, by each person specified in 
                        subparagraph (B), to such person's reserve 
                        balance for automobile insurance claims filed 
                        by automobile insurance policyholders in such 
                        State.
                    ``(B) Specified persons.--The persons specified in 
                this subparagraph are the person described in paragraph 
                (1), each person provided identifying information (as 
                described in paragraph (1)(B)) by the person described 
                in paragraph (1), and each person related to any of the 
                foregoing.
            ``(3) Related person.--For purposes of this subsection--
                    ``(A) a person is `related' to any other person if 
                such persons are under common control, and
                    ``(B) the determination of whether two or more 
                persons are under `common control' shall be made under 
                regulations of the Secretary which are consistent and 
                coextensive with regulations prescribed for similar 
                purposes by the Secretary of the Treasury under 
                subsections (b) and (c) of section 414 of the Internal 
                Revenue Code of 1986.''.

SEC. 3. EFFECTIVE DATE.

    The amendments made by this Act shall apply with respect to plan 
years beginning on or after January 1, 2003.
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