1. Short title This Act may be cited as the Federal Insurance Office Reform Act of 2017 . 2. Reform of Federal Insurance Office (a) In general Section 313 of title 31, United States Code, is amended as follows: (1) Establishment In subsection (a), by inserting before the period at the end the following: , which shall be within the Office of International Affairs . (2) Leadership In the first sentence of subsection (b), by inserting before the period at the end the following: after consultation with State insurance commissioners . (3) Functions In subsection (c)— (A) in paragraph (1)— (i) by striking subparagraph (H); (ii) in subparagraph (E), by striking Federal efforts and all that follows through United States and inserting the following: Federal international insurance policy among Federal agencies and achieve consensus with the States, including representing the Department of the Treasury ; (iii) in subparagraph (F)— (I) by striking to determine and inserting to assist the Secretary in determining ; and (II) by inserting and after the semicolon at the end; and (iv) by striking subparagraph (G) and inserting the following: (G) to consult and reach consensus with the States (including State insurance regulators) on matters of international importance. ; (B) in paragraph (2), by striking major domestic and ; and (C) by striking paragraph (3). (4) Gathering of information In subsection (e)— (A) in paragraph (1)— (i) in the matter preceding subparagraph (A), by striking may— and inserting may enter into information-sharing agreements. ; and (ii) by striking subparagraphs (A) through (D); (B) by striking paragraphs (2), (3), (4), and (6); and (C) by redesignating paragraph (5) as paragraph (2). (5) Preemption of State insurance measures In subsection (f), by striking Director each place such term appears and inserting Secretary . (6) Consultation In subsection (i)— (A) by striking to the extent the Director determines appropriate,