The U.S. Senate introduced S.B. 2509, otherwise known as the "National Insurance Act of 2006". The bill creates an "optional federal charter system", giving life and property & casualty insurers the option of being regulated under a federal system, rather than the states. As of this writing, the bill has not been posted on Thomas. The House is considering the State Modernization and Regulatory Transparency Act (SMART act), which will streamline state insurance regulation. See State Lawmakers Balk at Growing Trend of Federal Preemption by Andrew G. Simpson, Jr., Insurance Journal, April 10, 2006, and Regulatory Modernization Tops Industry's Legislative Agenda for 2006 by Britton Wells, Insurance Journal, Jan. 26, 2006. Several groups have voiced opposition to the Senate bill. See BIG “I” STRONGLY OPPOSES OPTIONAL FEDERAL REGULATION BILL, by Independent Insurance Agents and Brokers of America, April 5, 2006.