1. Short title This Act may be cited as the State Insurance Regulation Preservation Act . 2. Supervision of insurance savings and loan holding companies (a) Definitions Section 10(a)(1) of the Home Owners’ Loan Act ( 12 U.S.C. 1467a(a)(1) ) is amended by adding at the end the following: (K) Domicile The term domicile means the State in which an insurance underwriting company or the holding company for the insurance underwriting company is incorporated, chartered, or organized. (L) Business of insurance The term business of insurance means any activity that is regulated in accordance with the relevant State insurance laws and regulations, including the writing of insurance and the reinsuring of risks. (M) Insurance savings and loan holding company The term insurance savings and loan holding company means— (i) a savings and loan holding company with 75 percent or more of its total consolidated assets in not less than 1 insurance underwriting company, other than assets associated with insurance for credit risk, during the 4 most recent consecutive quarters, as calculated in accordance with generally accepted accounting principles or the statutory accounting principles in accordance with State law; (ii) a company that— (I) was a savings and loan holding company as of July 21, 2010, and through date of enactment of this clause; and (II) was not subject to the Basel III capital regulation promulgated by the Board of Governors of the Federal Reserve System and the Comptroller of the Currency on October 11, 2013 (78 Fed. Reg. 62018), because the savings and loan holding company held 25 percent or more of its total consolidated assets in subsidiaries that are insurance underwriting companies (other than assets associated with insurance for credit risk); or (iii) a top-tier savings and loan holding company that— (I) was registered as a savings and loan holding company before July 21, 2010