U.S. Congress legislation · 119th Congress
SB5158: Federal Insurance Office Abolishment Act of 2026
Status: In committee, July 29, 2026
A bill to abolish the Federal Insurance Office of the Department of the Treasury, and for other purposes.
What the bill says
To abolish the Federal Insurance Office of the Department of the Treasury, and for other purposes.
From the introduced text, July 29, 2026:
A BILL To abolish the Federal Insurance Office of the Department of the Treasury, and for other purposes. SECTION 1. Short title This Act may be cited as the Federal Insurance Office Abolishment Act of 2026 . SECTION 2. Abolishment of Federal Insurance Office (a) In general The Federal Insurance Office of the Department of the Treasury, and the position of the Director of the Federal Insurance Office, are hereby abolished. (b) Amendment Title 31, United States Code, is amended-- (1) by striking section 313; and (2) in the table of sections for subchapter I of chapter 3, by striking the item relating to section 313. (c) Treasury authority This section, and the amendment made by this section, may not be construed to repeal or otherwise limit any authority of the Secretary of the Treasury with respect to matters relating to insurance. SECTION 3. Related amendments (a) Dodd-Frank Wall Street Reform and Consumer Protection Act amendments The Dodd-Frank Wall Street Reform and Consumer Protection Act ( 12 U.S.C. 5301 et seq. ) is amended-- (1) in section 111(b)(2) ( 12 U.S.C. 5321(b)(2) )-- (A) by striking subparagraph (B); and (B) by redesignating subparagraphs (C), (D), and (E) as subparagraphs (B), (C), and (D), respectively; (2) in section 112 ( 12 U.S.C. 5322 )-- (A) in subsection (a)(2)(A), by striking member …
Sponsors
- Cruz, Ted (R) · primary sponsor
- Lee, Mike (R)
- Blackburn, Marsha (R)
- Paul, Rand (R)
Latest actions
- : Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- : Introduced in Senate
Subjects: Finance and Financial Sector
Common questions
- What is SB5158?
- SB5158 is a bill in Congress (119th Congress): Federal Insurance Office Abolishment Act of 2026.
- What does SB5158 do?
- In its own words: To abolish the Federal Insurance Office of the Department of the Treasury, and for other purposes.
- What is the status of SB5158?
- In committee as of July 29, 2026. Latest action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (July 29, 2026).
- Who sponsored SB5158?
- Cruz, Ted (R), with 3 co-sponsors.
- Where is the official record for SB5158?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5158
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.