A Republican bill with 1 Democratic cosponsor · See all 2 cosponsors
Last activity — Ordered to be Reported (Amended) by the Yeas and Nays: 42 - 7.
Introduced, nothing more yet
Formally proposed, and not yet handed to a committee.
Nearly every bill is sent to a committee within days. Introduction alone is not a sign of support, of momentum, or of any likelihood of passing — any member may introduce any bill.
Its path through Congress
- Introduced
What this bill would do
This bill, known as the "CLEAR Forms Act," directs the Securities and Exchange Commission to establish new registration forms for specific insurance products. These products include contingent deferred annuities, registered index-linked life insurance, and other registered non-variable insurance contracts. The Commission is required to propose new rules within 12 months and finalize them within 30 months of the Act's enactment. The goal is to design forms that provide purchasers with the information necessary to make knowledgeable decisions. The bill also outlines specific design requirements and limitations for these new registration forms.
Yes· 3 of 11
- Scored +6
Would people over 65 be better off under this?
Seniors are primary purchasers of annuities and will benefit from more understandable product disclosures.
- Scored +6
Would retired people be better off under this?
Retirees are the primary target demographic for annuities and will benefit from increased transparency.
- Scored +6
Does this give people more protection from unfair business practices?
Requires the SEC to create registration forms that ensure purchasers have information to make knowledgeable decisions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Improved Decision Making: The Commission is required to design forms that ensure purchasers receive information necessary to make knowledgeable decisions, considering the complexity of products like registered index-slinked life insurance and contingent deferred annuities (Section 2, subsection b, paragraph 2, subparagraph A).
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Enhanced Clarity for Consumers: The Act requires the Commission to conduct investor testing for contingent deferred annuities and use those results to ensure key information is conveyed in terms a purchaser can understand (Section 2, subsection b, paragraph 2, subparagraphs B and C).
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly mentioned in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would retired people be better off under this? — Retirees are the primary target demographic for annuities and will benefit from increased transparency. Would people over 65 be better off under this? — Seniors are primary purchasers of annuities and will benefit from more understandable product disclosures. Would billionaires be better off under this? — Provides better information for billionaires investing in registered insurance products. Would high-income households be better off under this? — Provides better information for high-income consumers investing in registered insurance products. Would people with substantial wealth be better off under this? — Provides better information for high-net-worth consumers investing in registered insurance products. Would people in middle age be better off under this? — Improves transparency for those purchasing life insurance and annuities. Would middle-income households be better off under this? — Provides better information for middle-class consumers investing in registered insurance products. Would the very wealthiest people be better off under this? — Provides better information for ultra-high-net-worth consumers investing in registered insurance products.
- Economy And Finance
- Does this give people more protection from unfair business practices? — Requires the SEC to create registration forms that ensure purchasers have information to make knowledgeable decisions.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — Increases disclosure requirements for specific insurance products to inform consumers. Does this give the federal government more power? — Directs the SEC to create new registration forms and rules for insurance products.
- 9/16/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 42 - 7.
- 9/10/2026
- 1 Cosponsor added.
- 9/2/2026
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
Scott FitzgeraldRepublican · Wisconsin
Brittany PettersenDemocrat · Colorado