PRIA Logo™
119-hr-3354119th CongressWALLET

Primary Regulators of Insurance Vote Act of 2025

Sponsored By: Representative Loudermilk, Barry [R-GA-11]

Introduced

Summary

Adds a voting State insurance commissioner to FSOC. This bill would make the State insurance commissioner a presidentially appointed, Senate‑confirmed voting member and change the term, selection, and vacancy rules.

Show full summary
  • State insurance commissioners: Would become a presidentially appointed, Senate‑confirmed voting member of the Financial Stability Oversight Council and serve a 4‑year term.
  • States and the NAIC: The President would request a list of recommended state candidates through the National Association of Insurance Commissioners and the NAIC would have 15 business days to respond. The President could appoint someone not on the list or proceed if no list is submitted.
  • FSOC membership and transition: The bill would repeal the commissioner’s prior nonvoting status and make conforming legal fixes. Until a commissioner is appointed and confirmed under the new process, the existing nonvoting arrangement would remain in effect.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Proposed voting seat for state insurance chief on financial council

If enacted, a State insurance commissioner would get a voting seat on the Financial Stability Oversight Council. The President would appoint and the Senate would confirm, for a 4-year term. Before appointing, the President must ask the NAIC for a list, due in 15 business days. The President could pick someone not on the list, or proceed without it if no list arrives in time. If the seat is vacant, the Vacancy Reform Act would not apply. State insurance commissioners would choose an interim member, who would serve as nonvoting until a confirmed successor starts. Until a new appointee is confirmed under this bill, the current nonvoting setup would stay in place.

Sponsors & CoSponsors

Sponsor

Loudermilk, Barry [R-GA-11]

GA • R

Cosponsors

  • Rep. Garamendi, John [D-CA-8]

    CA • D

    Sponsored 5/13/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation