The Senate passed a bipartisan bill Tuesday that would tweak the Dodd-Frank financial reform law regarding business insurance requirements.

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Sen. Susan CollinsSusan Margaret CollinsOvernight Health Care: 3.6M signed up for ObamaCare in first month | Ryan pledges 'entitlement reform' next year | Dems push for more money to fight opioids Study: ObamaCare bills backed by Collins would lower premiums Right scrambles GOP budget strategy MORE (R-Maine) introduced S. 2270, the Insurance Capital Standards Clarification Act. Her bill aims to clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The measure regulates business insurance of foreign companies doing business within the United States to give states more control.

The measure now heads to the House of Representatives for further action.