Disapproving the action of the District of Columbia Council in approving the Insurance Regulation Amendment Act of 2024.

Referred to the House Committee on Oversight and Government Reform.

Bill 119 hjres 82 is a piece of legislation that aims to disapprove of the action taken by the District of Columbia Council in approving the Insurance Regulation Amendment Act of 2024. The bill was introduced in response to concerns about the potential impact of the Insurance Regulation Amendment Act on the insurance industry in the District of Columbia.

The Insurance Regulation Amendment Act of 2024 was passed by the District of Columbia Council with the goal of making changes to the regulation of insurance companies operating in the District. However, some members of Congress believe that the Act could have negative consequences for the insurance industry, potentially leading to increased costs for consumers and reduced competition among insurance providers.

If Bill 119 hjres 82 is passed, it would effectively nullify the Insurance Regulation Amendment Act of 2024, preventing it from being implemented in the District of Columbia. This would allow for further discussion and potential revisions to the Act before any changes are made to the regulation of insurance companies in the District. Overall, Bill 119 hjres 82 is a response to concerns about the potential impact of the Insurance Regulation Amendment Act of 2024 on the insurance industry in the District of Columbia. It seeks to disapprove of the Act and prevent it from being implemented until further discussion and potential revisions can take place.