Summary#
H. Res. 1650 is a House resolution setting the terms for considering H.R. 1013, a bill about 403(b) plans. It would not itself amend securities law or change 403(b) plans. Its goal is to set the House’s procedure for taking up H.R. 1013.
- If the House adopts the resolution, H.R. 1013 would be eligible for consideration under the terms it sets.
- The committee substitute printed in H.R. 1013 would be treated as adopted, and the bill would be treated as read.
- Points of order (procedural objections) against considering the bill and against provisions in it would be waived.
- Debate would be limited to one hour, divided equally between the Financial Services Committee chair and ranking minority member, or their designees.
- The House could proceed to a final vote without an intervening motion, except for one motion to recommit.
What it means for you#
- People with 403(b) plans and plan providers: This resolution would not itself change plan rules, investments, fees, or benefits. Those matters depend on H.R. 1013, whose text is not provided here.
- House members: If adopted, the resolution would set the procedure and limits for the House’s consideration of H.R. 1013.
- General public: The resolution would not create a new service, benefit, tax, or enforcement power.
Money#
No cost information is in the available material.
- The resolution specifies no spending, fee, tax, or staffing requirement.
What is unclear#
- The text of H.R. 1013 and the committee substitute is not provided, so their effect on 403(b) plans cannot be assessed.
- The material does not say when the House would consider or vote on the resolution or on H.R. 1013.
- The resolution is reported and placed on the House Calendar; it has not yet been adopted. Whether it will pass is unclear.
Case for#
- A possible argument for the resolution is that it sets a clear path for the House to consider H.R. 1013, including a set time for debate and a final vote.
- The resolution allows one motion to recommit, while limiting other motions that could interrupt consideration.
Case against#
- The resolution would treat the committee substitute as adopted without a separate House vote on that substitute.
- Waiving points of order would remove procedural objections against the bill’s consideration and provisions.
- Limiting debate to one hour may leave members less time to examine the bill. The resolution does not itself provide more time or a process for reviewing the bill’s effects on 403(b) plans.