S.Amdt. 673

SA 673. Mr. SCOTT of South Carolina submitted an amendment intended
to be proposed by him to the concurrent resolution S. Con. Res. 5,
setting forth the congressional budget for the United States Government
for fiscal year 2021 and setting forth the appropriate budgetary levels
for fiscal years 2022 through 2030; which was ordered to lie on the
table; as follows:

At the end of title III, add the following:

SEC. 3___. DEFICIT-NEUTRAL RESERVE FUND RELATING TO ATTACKS
ON STATE-BASED INSURANCE REGULATORY REGIMES.

The Chairman of the Committee on the Budget of the Senate
may revise the allocations of a committee or committees,
aggregates, and other appropriate levels in this

[[Page S519]]

resolution, and make adjustments to the pay-as-you-go ledger,
for one or more bills, joint resolutions, amendments,
amendments between the Houses, motions, or conference reports
relating to limiting the Department of the Treasury and the
Federal financial regulators from imposing European-style
international insurance capital standards or otherwise
undermining the unique State-based insurance regulatory
system in the United States by the amounts provided in such
legislation for those purposes, provided that such
legislation would not increase the deficit over either the
period of the total of fiscal years 2021 through 2025 or the
period of the total of fiscal years 2021 through 2030.
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