[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 318 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 318

To direct the Securities and Exchange Commission to require any person 
subject to accounting principles or standards under the securities laws 
 to show all transactions of such person on the balance sheet of such 
                                person.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 2017

 Mr. Capuano introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
To direct the Securities and Exchange Commission to require any person 
subject to accounting principles or standards under the securities laws 
 to show all transactions of such person on the balance sheet of such 
                                person.

    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 ``Nothing Off Balance Sheet Act of 
2017''.

SEC. 2. ALL TRANSACTIONS REQUIRED TO BE SHOWN ON BALANCE SHEET.

    (a) In General.--In establishing accounting principles or standards 
for purposes of the securities laws (as defined in section 3(a) of the 
Securities Exchange Act of 1934 (15 U.S.C. 78c(a))), the Securities and 
Exchange Commission shall require any person subject to such principles 
or standards to show all transactions of such person on the balance 
sheet of such person.
    (b) Regulations.--The Securities and Exchange Commission shall 
promulgate regulations to implement subsection (a) not later than the 
date that is 90 days after the date of the enactment of this Act.
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