HR 1539 | U.S. House Bill | Asset-Backed Market Stabilization Act of 2011

To repeal section 939G of the Dodd-Frank Wall Street Reform and Consumer Protection Act and to restore Securities and Exchange Commission Rule 436(g) repealed by such section.

IN THE HOUSE OF REPRESENTATIVES

April 14, 2011

Mr. STIVERS (for himself, Mr. RENACCI, and Mr. CLARKE of Michigan) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To repeal section 939G of the Dodd-Frank Wall Street Reform and Consumer Protection Act and to restore Securities and Exchange Commission Rule 436(g) repealed by such section.

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 `Asset-Backed Market Stabilization Act of 2011'.

SEC. 2. RESTORATION OF RULE RELATING TO A CERTAIN EXEMPTION FOR RATING AGENCIES.

Effective as of the date of enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203), section 939G of such Act is repealed, and the regulation repealed by such section is restored or revived as if such section had not been enacted.

END