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 CollinsDems vow swift action on gun reform next year Collins reiterates call for legislation to protect Mueller investigation GOP nerves on edge after Sinema takes lead over McSally 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.