{"format":1,"id":"118-hjres-109","congress":118,"number":"H.J.Res. 109","kind":"joint_resolution","group":"bills","title":"Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to \"Staff Accounting Bulletin No. 121\".","title_source":"Display Title","official_title":"Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to \"Staff Accounting Bulletin No. 121\".","titles":[{"type":"Official Title as Introduced","title":"Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to \"Staff Accounting Bulletin No. 121\"."},{"type":"Display Title","title":"Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to \"Staff Accounting Bulletin No. 121\"."}],"outcome":"vetoed","law_number":null,"introduced":"2024-02-01","chambers":{"house":{"status":"roll_call","date":"2024-07-11","vote":{"id":"118-2024-h355","question":"Passage, Objections of the President To The Contrary Notwithstanding","title":"Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Staff Accounting Bulletin No. 121”","result":"Failed","yea":228,"nay":184,"present":0,"not_voting":21,"source":"https://clerk.house.gov/evs/2024/roll355.xml"},"override":true,"passage":{"chamber":"house","date":"2024-05-08","question":"On Passage","title":"Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Staff Accounting Bulletin No. 121”","result":"Passed","yea":228,"nay":182,"present":0,"not_voting":19,"kind":"final_candidate","source":"https://clerk.house.gov/evs/2024/roll189.xml"}},"senate":{"status":"roll_call","date":"2024-05-16","vote":{"id":"118-2024-s169","question":"On the Joint Resolution","title":"H.J.Res. 109","result":"Joint Resolution Passed","yea":60,"nay":38,"present":0,"not_voting":2,"source":"https://www.senate.gov/legislative/LIS/roll_call_votes/vote1182/vote_118_2_00169.xml"}}},"president":{"status":"vetoed","date":"2024-05-31"},"vice_president_tie_breaker":null,"latest_action":{"text":"The Chair directed the Clerk to notify the Senate of the action of the House.","date":"2024-07-11"},"nominees":null,"amendments":[],"other_votes":[{"chamber":"house","date":"2024-05-08","question":"On Passage","title":"Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “Staff Accounting Bulletin No. 121”","result":"Passed","yea":228,"nay":182,"present":0,"not_voting":19,"kind":"final_candidate","source":"https://clerk.house.gov/evs/2024/roll189.xml"}],"crs_summary":{"date":"2024-05-16","stage":"Passed Senate","blocks":[{"k":"p","t":"This joint resolution nullifies the rule issued by the Securities and Exchange Commission on March 31, 2022, titled Staff Accounting Bulletin No. 121. This bulletin provides accounting and disclosure guidance for entities related to their obligations to safeguard cryptoassets held for users of its platform."},{"k":"p","t":"A letter of opinion from the Government Accountability Office dated October 31, 2023, titled Securities and Exchange Commission—Applicability of the Congressional Review Act to Staff Accounting Bulletin No. 121 concluded that this bulletin is a rule for purposes of the Congressional Review Act."}],"words":88},"summary":{"main_subject":{"text":"Disapproves, under chapter 8 of title 5, United States Code, the Securities and Exchange Commission rule relating to \"Staff Accounting Bulletin No. 121\" and provides that the rule has no force or effect.","cites":[{"label":"Text","href":"https://www.congress.gov/bill/118th-congress/house-joint-resolution/109/text/enr#HEC2093FC60BC4F9EBECF94A3CB6E79DD"}]},"core_areas":["Congressional disapproval of the Securities and Exchange Commission's Staff Accounting Bulletin No. 121"],"what_it_does":[{"text":"States that Congress disapproves the rule submitted by the Securities and Exchange Commission relating to \"Staff Accounting Bulletin No. 121\" (87 Fed. Reg. 21015 (April 11, 2022)).","cite":{"label":"Text","href":"https://www.congress.gov/bill/118th-congress/house-joint-resolution/109/text/enr#HEC2093FC60BC4F9EBECF94A3CB6E79DD"}},{"text":"Provides that the disapproved rule shall have no force or effect.","cite":{"label":"Text","href":"https://www.congress.gov/bill/118th-congress/house-joint-resolution/109/text/enr#HEC2093FC60BC4F9EBECF94A3CB6E79DD"}},{"text":"Refers to a letter of opinion from the Government Accountability Office dated October 31, 2023, which concluded that the Staff Accounting Bulletin is a rule under chapter 8 of title 5, United States Code.","cite":{"label":"Text","href":"https://www.congress.gov/bill/118th-congress/house-joint-resolution/109/text/enr#HEC2093FC60BC4F9EBECF94A3CB6E79DD"}}],"unexpected":[],"version":{"type":"Enrolled Bill","date":null,"rule":"enrolled","href":"https://www.congress.gov/bill/118th-congress/house-joint-resolution/109/text/enr"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-09-30","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/118th-congress/house-joint-resolution/109","text":"https://www.congress.gov/bill/118th-congress/house-joint-resolution/109/text"},"card":{"image":"card/item/118-hjres-109.png","v":"c177a7928a5e","alt":"Votes on Record. H.J.Res. 109, 118th Congress: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to \"Staff Accounting Bulletin No. 121\". House: 228 Yea, 184 Nay; a vote on overriding the President's veto. Senate: 60 Yea, 38 Nay. Outcome: Vetoed, 31 May 2024."}}