To amend the securities laws to permit church pension plans to be invested in collective trusts.
Public Law 108-359 · H.R. 1533 · 108th Congress · began in the House
Signed by George W. Bush (R) on Oct 25, 2004 · Finance and Financial Sector
Sponsor: Rep. Judy Biggert (R-IL-13)
Cosponsors (15): Rep. Harold Ford, Rep. Charlie Gonzalez,
Passage votes
- HouseUnanimous consent
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Amends the Investment Company Act of 1940 to exclude from its definition of "investment company" any collective trust fund maintained by a bank consisting solely of certain church pension plans, companies, or accounts specified in the Internal Revenue Code.
Amends the Securities Act of 1933 and the Securities Exchange Act of 1934 to exempt such church pension plans, companies, or accounts from regulation under such Acts, including registration requirements. (Thus exempts such church pension plans, companies, or accounts from Federal jurisdiction for securities fraud, manipulation, transparency, and disclosure requirements.)
Committees
The committees the bill was sent to, and what each did with it.
Financial Services Committee · House · markup by, referred to, reported bySubcommittee: Capital Markets Subcommittee
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Related bills
The record lists no related bills.
Data notes
Related bills are identified by the Congressional Research Service, the House and the Senate: companion and identical bills, bills with similar text, bills that were folded into this law, and rules that brought it to the floor. A bill that is itself a public law in this site’s data links here; the others link to Congress.gov.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 28 actions.
- Oct 25, 2004Became lawBecame law · Became Public Law No: 108-359.
- Became lawBecame law · Signed by President.
- Oct 13, 2004FloorFloor · Presented to President.
- Oct 8, 2004Resolving differencesResolving differences · Motion to reconsider laid on the table Agreed to without objection.
- Resolving differencesResolving differences · On motion that the House agree to the Senate amendment Agreed to without objection.
- Resolving differencesResolving differences · Mr. LaTourette asked unanimous consent that the House agree to the Senate amendment.
- OtherOther · Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to without objection.
- Oct 4, 2004FloorFloor · Message on Senate action sent to the House.
- Oct 1, 2004FloorFloor · Passed Senate with an amendment by Unanimous Consent.
- FloorFloor · Measure laid before Senate by unanimous consent.
- CommitteeCommittee · Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
- Sep 4, 2003CommitteeCommittee · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sep 3, 2003FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 397 - 0 (Roll no. 462).House roll call 462
- FloorFloor · Considered as unfinished business.
- FloorFloor · At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- FloorFloor · DEBATE - The House proceeded with forty minutes of debate on H.R. 1533.
- FloorFloor · Considered under suspension of the rules.
- FloorFloor · Mrs. Biggert moved to suspend the rules and pass the bill, as amended.
- CalendarCalendar · Placed on the Union Calendar, Calendar No. 139.
- CommitteeCommittee · Reported by the Committee on Financial Services. H. Rept. 108-248.
- Jul 23, 2003CommitteeCommittee · Ordered to be Reported by Voice Vote.
- CommitteeCommittee · Committee Consideration and Mark-up Session Held.
- Jul 10, 2003CommitteeCommittee · Forwarded by Subcommittee to Full Committee by Voice Vote.
- CommitteeCommittee · Subcommittee Consideration and Mark-up Session Held.
- Apr 10, 2003CommitteeCommittee · Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
- Apr 1, 2003CommitteeCommittee · Referred to the House Committee on Financial Services.
- IntroducedIntroduced · Introduced in House
Data notes
Every action the Library of Congress lists for the bill, from introduction to signing, plus the dated committee hearings. The source lists many steps twice (the chamber’s own entry and the Library of Congress copy, or a presidential and a became-law entry with the same words); those are shown once. Amendments are listed in their own section.
Amendments
1 amendment offered to the bill, with the last recorded step of each.
- Agreed to
S.Amdt. 3948SenateSen. Richard ShelbyR-AL· offered Oct 1, 2004Agreed to
To make a technical correction.
Oct 1, 2004: Amendment SA 3948 agreed to in Senate by Unanimous Consent.
Data notes
Amendments offered to this bill in either chamber, as the Library of Congress records them: each with a status read from its last recorded step: agreed to, rejected, withdrawn, ruled out of order, fell with another amendment, or offered with no vote recorded (most Senate amendments are only ever offered). The wording of each amendment is the source’s. Amendments to amendments and amendments to other bills are not listed.
Official record
The bill’s full text is on Congress.gov. Data through Oct 7, 2026.