Political Quotes

“Madam President, on behalf of Senator Enzi, I call up the amendment. The PRESIDING OFFICER. The clerk will report. The legislative clerk read as follows: The Senator from Maine [Ms. Collins], for Mr. Enzi, proposes an amendment numbered 1510 to amendment No. 1470. The amendment is as follows: (Purpose: To clarify that the transaction reporting requirement is not intended to apply to widely held investment funds) At the end of the amendment, insert the following: SEC. ___. TRANSACTION REPORTING REQUIREMENTS. The transaction reporting requirements established by section 101(j) of the Ethics in Government Act of 1978, as added by section 6 of this Act, shall not be construed to apply to a widely held investment fund (whether such fund is a mutual fund, regulated investment company, pension or deferred compensation plan, or other investment fund), if-- (1)(A) the fund is publicly traded; or (B) the assets of the fund are widely diversified; and (2) the reporting individual neither exercises control over nor has the ability to exercise control over the financial interests held by the fund. The PRESIDING OFFICER. The question is on agreeing to the amendment. The amendment (No. 1510) was agreed to.”