PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 49 · Public Law · Jul 9, 2012
(This measure has not been amended since it was reported to the House on July 1, 2011. The summary of that version is repeated here.)
Church Plan Investment Clarification Act - Amends the Securities Act of 1933 with respect to when certain securities issued in connection with retirement income accounts available only to certain kinds of church plans are treated as exempted from registration and disclosure requirements under such Act (exempted securities).
Considers as an exempted security a certain kind of retirement income account (available only to church plans), to the extent that the interest or participation in a single trust fund or collective trust fund (e.g., a "stable value fund") is issued to: (1) a church, a convention or association of churches, or a specified kind of organization (including a church pension board established to maintain employee benefit programs) which establishes or maintains the retirement income account; or (2) a trust established by any such entity in connection with the retirement income account.
Showing the opening paragraphs of the official summary.
Revises a further such exclusion from exempted security treatment of plans whose participants may include persons (in particular clergymen) who may be considered self-employed for certain tax purposes. Allows exempted security treatment of such plans.
(In effect, an exemption from registration and related requirements is granted to collective trust funds that are invested in by kinds of church plans currently excluded from making such investments.)
People & committees
Rep. Biggert, Judy [R-IL-13] · R–IL
Legislative record
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Became Public Law No: 112-142.
Became Public Law No: 112-142.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Message on Senate action sent to the House.
Passed Senate without amendment by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S4428)
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S4428)
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 310 - 1 (Roll no. 601). (text: CR H5131)
House roll call 601 · Individual votesPassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 310 - 1 (Roll no. 601).(text: CR H5131)
House roll call 601 · Individual votesConsidered as unfinished business. (consideration: CR H5132)
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.
DEBATE - The House proceeded with forty minutes of debate on H.R. 33.
Considered under suspension of the rules. (consideration: CR H5130-5131)
Mrs. Biggert moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 81.
Reported (Amended) by the Committee on Financial Services. H. Rept. 112-131.
Reported (Amended) by the Committee on Financial Services. H. Rept. 112-131.
Ordered to be Reported by Voice Vote.
Committee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote .
Subcommittee Consideration and Mark-up Session Held.
Subcommittee Consideration and Mark-up Session Held.
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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Analyze H.R.33 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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