House Bill 4565
116th Congress(2019-2020)
Responsible Accounting Standards Act of 2019
Introduced
Introduced in House on Sep 27, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4565
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
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.
September 27, 2019
09/27/2019
Referred to the House Committee on Financial Services.
09/27/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 1:49:45 PM