S.978 - Charitable Giving Protection Act of 1995104th Congress (1995-1996)
|Sponsor:||Sen. Hutchison, Kay Bailey [R-TX] (Introduced 06/28/1995)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||06/28/1995 Read twice and referred to the Committee on Banking.|
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: S.978 — 104th Congress (1995-1996)All Bill Information (Except Text)
Introduced in Senate (06/28/1995)
TABLE OF CONTENTS:
Title I: Amendments to the Securities Laws
Title II: Clarification of Antitrust Laws
Charitable Giving Protection Act of 1995 - Title I: Amendments to the Securities Laws - Exempts from the jurisdiction of the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 any security issued by or any interest or participation in any pooled income fund, collective trust fund, collective investment fund, or similar fund deemed not to be an investment company under the Investment Company Act of 1940 (charitable gift annuities).
Preempts State law to extend the charitable gift annuities exemption from its jurisdiction over: (1) securities registration or qualification requirements; and (2) any charitable organization regulation.
Permits a State to enact a statute that specifically refers to this Act and provides prospectively that it does not preempt its laws.
Title II: Clarification of Antitrust Laws - Exempts charitable gift annuities from application of the antitrust laws.