118 SJ 59 IS: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Staff Accounting Bulletin No. 121”. U.S. Senate 2024-02-01 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.

IIA118th CONGRESS2d SessionS. J. RES. 59IN THE SENATE OF THE UNITED STATESFebruary 1, 2024Ms. Lummis introduced the following joint resolution; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsJOINT RESOLUTIONProviding for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to Staff Accounting Bulletin No. 121.

That Congress disapproves the rule submitted by the Securities and Exchange Commission relating to Staff Accounting Bulletin No. 121 (87 Fed. Reg. 21015 (April 11, 2022) and a letter of opinion from the Government Accountability Office dated October 31, 2023 (which was printed in the Congressional Record on November 1, 2023, on pages S5310–5312), concluding that such Staff Accounting Bulletin is a rule under chapter 8 of title 5, United States Code), and such rule shall have no force or effect.