Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to Amendment to Prohibited Transaction Exemption 84–24.
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Committee
Latest Action · May 15, 2024
Referred to the House Committee on Education and the Workforce.
This joint resolution would block a Department of Labor rule that amends an exemption known as Prohibited Transaction Exemption 84-24, which was published in the Federal Register on April 25, 2024. The resolution uses the Congressional Review Act, a legislative process that allows Congress to disapprove and nullify federal regulations. If passed, the rule would be voided and have no legal effect. The resolution was introduced by Representative Rick Allen and 27 other House Republicans and referred to the Committee on Education and the Workforce. The bill does not specify any funding or implementation timeline, as it simply seeks to reject an existing regulatory action.
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