Political Quotes

“I ask unanimous consent that the Smith-Tillis substitute amendment, which is at the desk, be considered and agreed to; that the bill, as amended, be considered read a third time and passed, and the motion to reconsider be considered made and laid upon the table. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment (No. 6506), in the nature of a substitute, was agreed to, as follows: (Purpose: In the nature of a substitute) Strike all after the enacting clause and insert the following: SECTION 1. SHORT TITLE. This Act may be cited as the ``Registration for Index- Linked Annuities Act''. SEC. 2. PARITY FOR REGISTERED INDEX-LINKED ANNUITIES REGARDING REGISTRATION RULES. (a) Definitions.--In this section: (1) Commission.--The term ``Commission'' means the Securities and Exchange Commission. (2) Investment company.--The term ``investment company'' has the meaning given the term in section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3). (3) Market value adjustment.--The term ``market value adjustment'' means, with respect to a registered index-linked annuity, after an early withdrawal or contract discontinuance-- (A) an adjustment to the value of that annuity based on calculations using a predetermined formula; or (B) a change in interest rates (or other factor, as determined by the Commission) that apply to that annuity. (4) Purchaser.--The term ``purchaser'' means a purchaser of a registered index-linked annuity.…”