[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1533 Reported in House (RH)]
Union Calendar No. 139
108th CONGRESS
1st Session
H. R. 1533
[Report No. 108-248]
To amend the securities laws to permit church pension plans to be
invested in collective trusts.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 1, 2003
Mrs. Biggert (for herself and Mr. Ford) introduced the following bill;
which was referred to the Committee on Financial Services
September 3, 2003
Additional sponsors: Mr. Gonzalez, Mr. Paul, Mr. Jones of North
Carolina, Mr. Frank of Massachusetts, Mr. Hayworth, Mr. Shimkus, Mr.
Sherman, Mr. Kanjorski, Mr. Davis of Alabama, Mrs. Maloney, Ms. Hooley
of Oregon, Mr. Meeks of New York, Mr. Ryun of Kansas, and Mr. Scott of
Virginia
September 3, 2003
Committed to the Committee of the Whole House on the State of the Union
and ordered to be printed
_______________________________________________________________________
A BILL
To amend the securities laws to permit church pension plans to be
invested in collective trusts.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. CONFORMING AMENDMENTS FOR CHURCH PLAN PARTICIPATION IN
COLLECTIVE FUNDS.
(a) Amendment to the Investment Company Act of 1940.--Section
3(c)(11) of the Investment Company Act of 1940 (15 U.S.C. 80a-3(c)(11))
is amended by striking ``such trusts or government plans, or both'' and
inserting ``one or more of such trusts, government plans, or church
plans, companies or accounts that are excluded from the definition of
an investment company under paragraph (14) of this subsection''.
(b) Amendments to the Securities Act of 1933.--Section 3(a)(2) of
the Securities Act of 1933 (15 U.S.C. 77c(a)(2)) is amended--
(1) by striking ``or'' at the end of clause (B); and
(2) by inserting before ``other than any plan described in
clause (A)'' the following: ``, or (D) a church plan, company,
or account that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940,''.
(c) Amendments to the Securities Exchange Act of 1934.--
(1) Section 3(a)(12)(C) of the Securities Exchange Act of
1934 (15 U.S.C. 78c(a)(12)(C)) is amended--
(A) by striking ``or'' at the end of clause (ii);
and
(B) by inserting before ``other than any plan
described in clause (i)'' the following: ``or (iv) a
church plan, company, or account that is excluded from
the definition of an investment company under section
3(c)(14) of the Investment Company Act of 1940,''.
(2) Section 12(g)(2)(H) of the Securities Exchange Act of
1934 (15 U.S.C. 78l(g)(2)(H)) is amended--
(A) by striking ``or'' at the end of clause (i);
and
(B) by inserting before the period at the end the
following: ``, or (iii) a church plan, company, or
account that is excluded from the definition of an
investment company under section 3(c)(14) of the
Investment Company Act of 1940''.
Union Calendar No. 139
108th CONGRESS
1st Session
H. R. 1533
[Report No. 108-248]
_______________________________________________________________________
A BILL
To amend the securities laws to permit church pension plans to be
invested in collective trusts.
_______________________________________________________________________
September 3, 2003
Committed to the Committee of the Whole House on the State of the Union
and ordered to be printed