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".

Fact Sheet API

Bill Number

HJRES 109

Introduced

Feb 1, 2024

Latest Action

The Chair directed the Clerk to notify the Senate of the action of the House.

Sponsor

Cosponsors

Topics

Administrative law and regulatory procedures Congressional oversight Congressional-executive branch relations Finance and Financial Sector Securities and Exchange Commission (SEC)

Full Text

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Votes

Summary

This joint resolution nullifies the rule issued by the Securities and Exchange Commission on March 31, 2022, titled Staff Accounting Bulletin No. 121. This bulletin provides accounting and disclosure guidance for entities related to their obligations to safeguard cryptoassets held for users of its platform.

A letter of opinion from the Government Accountability Office dated October 31, 2023, titled Securities and Exchange Commission—Applicability of the Congressional Review Act to Staff Accounting Bulletin No. 121 concluded that this bulletin is a rule for purposes of the Congressional Review Act.

Actions

Jul 11, 2024

The Chair directed the Clerk to notify the Senate of the action of the House.
Jul 11, 2024

On motion to refer the bill and the accompanying veto message to the Committee on Financial Services. Agreed to without objection.
Jul 11, 2024

On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 228 - 184 (Roll no. 355). (text: 5/8/2024 CR H2950)
Jul 11, 2024

Failed of passage in House over veto On passage, the objections of the President to the contrary notwithstanding Failed by the Yeas and Nays: (2/3 required): 228 - 184 (Roll no. 355). (text: 5/8/2024 CR H2950)
Jul 11, 2024

The Chair announced the unfinished business to be the consideration of the veto. (consideration: CR H4610-4611)
Jul 10, 2024

POSTPONED PROCEEDINGS - At the conclusion of debate on the veto message of the President to H.J. Res. 109, the Chair put the question on will the House, on reconsideration, pass H.J. Res. 109, the objections of the President to the contrary notwithstanding. Under the Constitution, the vote must be taken by the yeas and nays. Further proceedings were postponed until a time to be announced.
Jul 10, 2024

The previous question was ordered without objection.
Jul 10, 2024

DEBATE - Pursuant to a previous order of the House of June 3, 2024, the unfinished business is the further consideration of the veto message of the President on H.J. Res. 109. The House proceeded with one hour of debate on the objections of the President to the contrary notwithstanding. (consideration: CR H4543-4547)
Jul 10, 2024

The Chair laid before the House the veto message from the President.
Jun 3, 2024

Mr. Grothman asked unanimous consent That, further consideration of the veto message and the joint resolution, H.J. Res. 109, be postponed until the legislative day of July 10, 2024. Agreed to without objection.
Jun 3, 2024

The Chair announced that the objections of the President to H.J. Res. 109 would be spread at large upon the Journal, and the veto message would be printed as a House Document (118-145).
Jun 3, 2024

The Chair laid before the House the veto message from the President.
May 31, 2024

Vetoed by President.
May 23, 2024

Presented to President.
May 20, 2024

Message on Senate action sent to the House.
May 16, 2024

Passed Senate without amendment by Yea-Nay Vote. 60 - 38. Record Vote Number: 169.
May 16, 2024

Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 60 - 38. Record Vote Number: 169.
May 16, 2024

Measure laid before Senate by unanimous consent. (consideration: CR S3741-3745)
May 9, 2024

Received in the Senate.
May 8, 2024

Motion to reconsider laid on the table Agreed to without objection.
May 8, 2024

On passage Passed by the Yeas and Nays: 228 - 182 (Roll no. 189). (text: CR H2950)
May 8, 2024

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 228 - 182 (Roll no. 189). (text: CR H2950)
May 8, 2024

Considered as unfinished business. (consideration: CR H2981-2982)
May 8, 2024

POSTPONED PROCEEDINGS - At the conclusion of debate on H.J. Res. 109, the Chair put the question on passage of the joint resolution and by voice vote announced that the ayes had prevailed. Mr. McHenry demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
May 8, 2024

The previous question was ordered pursuant to the rule.
May 8, 2024

DEBATE - The House proceeded with one hour of debate on H.J. Res. 109.
May 8, 2024

Rule provides for consideration of H.R. 6192, H.R. 7109, H.J. Res. 109 and H.R. 2925. The resolution provides for consideration of H.R. 6192 under a structured rule and H.R. 7109, H.J. Res. 109, and H.R. 2925 under a closed rule. Rule provides for one hour of general debate on H.R. 6192, H.R. 7109, and H.J. Res. 109, and thirty minutes of general debate on H.R. 2925. One motion to recommit allowed on each bill.
May 8, 2024

Considered under the provisions of rule H. Res. 1194. (consideration: CR H2950-2963)
May 6, 2024

Rules Committee Resolution H. Res. 1194 Reported to House. Rule provides for consideration of H.R. 6192, H.R. 7109, H.J. Res. 109 and H.R. 2925. The resolution provides for consideration of H.R. 6192 under a structured rule and H.R. 7109, H.J. Res. 109, and H.R. 2925 under a closed rule. Rule provides for one hour of general debate on H.R. 6192, H.R. 7109, and H.J. Res. 109, and thirty minutes of general debate on H.R. 2925. One motion to recommit allowed on each bill.
May 1, 2024

Placed on the Union Calendar, Calendar No. 398.
May 1, 2024

Reported by the Committee on Financial Services. H. Rept. 118-480.
Feb 29, 2024

Ordered to be Reported by the Yeas and Nays: 31 - 19.
Feb 29, 2024

Committee Consideration and Mark-up Session Held
Feb 1, 2024

Referred to the House Committee on Financial Services.
Feb 1, 2024

Introduced in House

Amendments

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