Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Amendment to Prohibited Transaction Exemption 84-24".
H.J.Res. 141 is a congressional resolution disapproving a Department of Labor rule (89 Fed. Reg. 32302, April 25, 2024) that amended Prohibited Transaction Exemption 84-24. This rule would have changed regulations governing retirement investment transactions, specifically affecting how financial institutions and retirement plan administrators handle certain transactions. The resolution, if passed, would block the rule from taking effect by invoking the disapproval process under Title 5 of the U.S. Code. It directly impacts retirement plan providers and financial firms that rely on this exemption for investment activities. The bill does not create new policy but seeks to prevent the implementation of the specific Department of Labor rule.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2024
Committee Review
Floor Vote
President
Introduced May 15, 2024
Last action May 15, 2024
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Full legislative history
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Total actions
2
Key actions
0
Committee
1
May 15, 2024
Committee
Referred to the House Committee on Education and the Workforce.
lower
May 15, 2024
Introduced
Introduced in House
lower
1 primary · 46 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Rick W. Allen
RRepublican
Co
Aaron Bean
RRepublican
Co
Andrew Ogles
RRepublican
Co
Andrew R. Garbarino
RRepublican
Co
Andy Barr
RRepublican
Co
Ann Wagner
RRepublican
Co
Austin Scott
RRepublican
Co
Beth Van Duyne
RRepublican
Co
Bob Good
RRepublican
Co
Brad Finstad
RRepublican
Co
Bruce Westerman
RRepublican
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