S.J.Res. 59

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".

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IIA

118th CONGRESS

2d Session

S. J. RES. 59

IN THE SENATE OF THE UNITED STATES

February 1, 2024

Ms. Lummis introduced the following joint resolution; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

JOINT RESOLUTION

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to Staff Accounting Bulletin No. 121.

That Congress disapproves the rule submitted by the Securities and Exchange Commission relating to Staff Accounting Bulletin No. 121 (87 Fed. Reg. 21015 (April 11, 2022) and a letter of opinion from the Government Accountability Office dated October 31, 2023 (which was printed in the Congressional Record on November 1, 2023, on pages S5310–5312), concluding that such Staff Accounting Bulletin is a rule under chapter 8 of title 5, United States Code), and such rule shall have no force or effect.