1. Short title This Act may be cited as the Consumer Financial Choice and Capital Markets Protection Act of 2017 . 2. Treatment of money market funds under the Investment Company Act of 1940 The Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq.) is amended by adding at the end the following: 66. Money market funds (a) Definitions In this section— (1) the term covered Federal assistance means Federal assistance used for the purpose of— (A) making any loan to, or purchasing any stock, equity interest, or debt obligation of, any money market fund; (B) guaranteeing any loan or debt issuance of any money market fund; or (C) entering into any assistance arrangement (including tax breaks), loss sharing, or profit sharing with any money market fund; and (2) the term Federal assistance means— (A) insurance or guarantees by the Federal Deposit Insurance Corporation; (B) transactions involving the Secretary of the Treasury; or (C) the use of any advances from any Federal Reserve credit facility or discount window that is not part of a program or facility with broad-based eligibility established in unusual or exigent circumstances. (b) Election To be a stable value money market fund (1) In general Notwithstanding any other provision of this title, any open-end investment company (or a separate series thereof) that is a money market fund that relies on section 270.2a–7 of title 17, Code of Federal Regulations, may, in the prospectus included in its registration statement filed under section 8 state that the company or series has elected to compute the current price per share, for purposes of distribution or redemption and repurchase, of any redeemable security issued by the company or series by using the amortized cost method of valuation, or the penny-rounding method of pricing, regardless of whether its shareholders are limited to natural persons, if— (A) the company or series has as its objective the generation of income and preservation of capital through investment in short-term, high-quality debt securities