Nothing Off Balance Sheet Act of 2013

Nothing Off Balance Sheet Act of 2013 - Directs the Securities and Exchange Commission (SEC), in establishing accounting principles or standards under the securities laws, to require any person subject to those principles or standards to show all transactions on that person's balance sheet.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3011 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 3011

To direct the Securities and Exchange Commission to require any person 
subject to accounting principles or standards under the securities laws 
 to show all transactions of such person on the balance sheet of such 
                                person.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 2, 2013

 Mr. Capuano introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To direct the Securities and Exchange Commission to require any person 
subject to accounting principles or standards under the securities laws 
 to show all transactions of such person on the balance sheet of such 
                                person.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Nothing Off Balance Sheet Act of 
2013''.

SEC. 2. ALL TRANSACTIONS REQUIRED TO BE SHOWN ON BALANCE SHEET.

    (a) In General.--In establishing accounting principles or standards 
for purposes of the securities laws (as defined in section 3(a) of the 
Securities Exchange Act of 1934 (15 U.S.C. 78c(a))), the Securities and 
Exchange Commission shall require any person subject to such principles 
or standards to show all transactions of such person on the balance 
sheet of such person.
    (b) Regulations.--The Securities and Exchange Commission shall 
promulgate regulations to implement subsection (a) not later than the 
date that is 90 days after the date of the enactment of this Act.
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