Bank Accounts, Deposits, Capital
US Congress 116th Congress
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Taxpayer First Act of 2019 [HB-1957]
[Public Lands and National Parks ]
[Energy ]
[Budget and Spending ]
[Funding ]
[Grants ]
Establishes the National Parks and Public Land Legacy Restoration Fund to support deferred maintenance projects on federal lands. For FY2021-FY2025, there shall be deposited into the fund an amount equal to 50% of energy development revenues credited, covered, or deposited as miscellaneous receipts from oil, gas, coal, or alternative or renewable energy development on federal lands and waters. Deposited amounts must not exceed $1.9 billion for any fiscal year. The fund must be used for priority deferred maintenance projects in specified systems
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Sponsored by: Rep. Eleanor Holmes Norton
Became Public Law No: 116-152. on 08/04/2020
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National Law Enforcement Museum Commemorative Coin Act [HB-1865]
[Law Enforcement ]
[Funding ]
[Agriculture ]
[Energy ]
[Veterans ]
[Transportation and Motor Vehicles ]
[Housing ]
[Budget and Spending ]
[Healthcare ]
[Labor, Jobs, Employment ]
[Education ]
[Public Safety ]
[Military ]
Provides FY2020 appropriations for several federal departments and agencies. It includes 8 of the 12 regular FY2020 appropriations bills: the Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 2020; the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2020; the Energy and Water Development and Related Agencies Appropriations Act, 2020; the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2020; the Legislative
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Sponsored by: Rep. Alexander Mooney
Presented To President. on 12/20/2019
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Working Parents Flexibility Act of 2019 [HB-1859]
[Taxes ]
[Family-Related Legislation ]
[Labor, Jobs, Employment ]
[Children and Youth ]
Allows tax-exempt parental leave savings accounts for the care of a child. An individual who has earned income from employment during the past 12 months may make tax deductible cash contributions of up to $6,750 in a taxable year to an account. The total contributions to an account for all taxable years may not exceed $24,000. Taxpayers whose adjusted gross income exceeds $250,000 in a taxable year are ineligible for such a tax deduction. The bill excludes from gross income (1) distributions from a parental leave savings account that are made not
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Sponsored by: Rep. John Katko
Introduced In House on 03/25/2019
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ABLE Age Adjustment Act [HB-1814]
[Taxes ]
[Disabilities ]
[Senior Citizens ]
[Healthcare ]
[Human Services ]
Increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)
Sponsored by: Rep. Sean Patrick Maloney
Introduced In House on 03/18/2019
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Freedom Financing Act [S.821]
[Finance ]
[Consumer Protection ]
[Small Business ]
Restricts certain banks, credit unions, and payment card networks from refusing to do business with a person based on reputational considerations.
Sponsored by: Sen. Marsha Blackburn
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/14/2019
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Stop Tax Haven Abuse Act [HB-1712]
[Finance ]
[Taxes ]
[International ]
[Trade ]
[Budget and Spending ]
[Small Business ]
[Law Enforcement ]
[Cybersecurity ]
[National Security ]
[Economic Development ]
[Crime ]
Authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to expand reporting requirements for certain foreign investments and accounts held by U.S. persons, establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act, treat certain foreign corporations
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Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 03/13/2019
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Stop Tax Haven Abuse Act [S.779]
[Finance ]
[Taxes ]
[International ]
[Trade ]
[Budget and Spending ]
[Small Business ]
[Law Enforcement ]
[Cybersecurity ]
[National Security ]
[Economic Development ]
[Crime ]
Authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to expand reporting requirements for certain foreign investments and accounts held by U.S. persons, establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act, treat certain foreign corporations
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Sponsored by: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On Finance. on 03/13/2019
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Consumer Financial Choice and Capital Markets Protection Act of 2019 [S.733]
[Finance ]
[Consumer Protection ]
[Investments ]
Allows a money market fund, under specified conditions, to elect to operate using a different method of valuation than is otherwise required. A money market fund that elects to do so shall not be subject to specified requirements related to the imposition of liquidity fees. Certain federal assistance may not be provided directly to any money market fund. This limitation on federal assistance must be disclosed in a money market's advertising and sales literature.
Sponsored by: Sen. Robert Menendez
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/11/2019
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Education Savings Accounts for Military Families Act of 2019 [HB-1605]
[Education ]
[Veterans ]
[Military ]
[Taxes ]
[Children and Youth ]
Directs the Department of Education (ED) to establish a program to provide children with parents on active duty in the uniformed services with funds to pay educational expenses. Specifically, ED shall establish a tax-exempt Military Education Savings Account for dependent children of parents in the uniformed services for the payment of the children's educational expenses. Funds in the savings account may be used for, among other things, the cost of attendance at a private elementary or secondary school or institution of higher education, private
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Sponsored by: Rep. Alexander Mooney
Introduced In House on 03/07/2019
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Education Savings Accounts for Military Families Act of 2019 [S.695]
[Education ]
[Veterans ]
[Military ]
[Taxes ]
[Children and Youth ]
Directs the Department of Education (ED) to establish a program to provide children with parents on active duty in the uniformed services with funds to pay educational expenses. Specifically, ED shall establish a tax-exempt Military Education Savings Account for dependent children of parents in the uniformed services for the payment of the children's educational expenses. Funds in the savings account may be used for, among other things, the cost of attendance at a private elementary or secondary school or institution of higher education, private
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Sponsored by: Sen. Marsha Blackburn
Read Twice And Referred To The Committee On Finance. on 03/07/2019
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SAFE Banking Act of 2019 Secure And Fair Enforcement Banking Act of 2019 [HB-1595]
[Cannabis ]
[Finance ]
[Small Business ]
[National Security ]
[Crime ]
Generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate marijuana- or hemp-related business. Specifically, the bill prohibits a federal banking regulator from (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana- or hemp-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to
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Sponsored by: Rep. Sean Patrick Maloney
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 09/26/2019
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SAFE Lending Act of 2019 Stopping Abuse and Fraud in Electronic Lending Act of 2019 [HB-1509]
[Consumer Protection ]
[Finance ]
[Small Business ]
[Data Privacy ]
Revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary
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Sponsored by: Rep. Suzanne Bonamici
Introduced In House on 03/05/2019
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Otto Warmbier Banking Restrictions Involving North Korea Act of 2019 [S.667]
[International ]
[Human Rights ]
[Finance ]
[National Security ]
[Human Services ]
[Law Enforcement ]
[Crime ]
Expands sanctions and reporting requirements related to North Korea and revises provisions related to combating human trafficking. The Department of the Treasury shall impose asset-related sanctions on persons that knowingly provide significant financial services to any person that is subject to various sanctions, including those covered in any United Nations Security Council (UNSC) resolution. The President may impose sanctions on persons that take certain actions related to North Korea, including knowingly (1) engaging in transactions in goods
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Sponsored by: Sen. Rob Portman
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/05/2019
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ABLE Age Adjustment Act [S.651]
[Taxes ]
[Disabilities ]
[Senior Citizens ]
[Healthcare ]
[Human Services ]
Increases from 26 to 46 the age threshold for tax-favored ABLE (Achieving a Better Life Experience) accounts. (ABLE accounts are designed to enable individuals with disabilities to save for and pay for disability-related expenses. To establish an account, an individual must have a qualifying impairment that began before the individual attained the age threshold.)
Sponsored by: Sen. Robert P. Casey
Read Twice And Referred To The Committee On Finance. on 03/05/2019
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Consumers First Act [HB-1500]
[Finance ]
[Student Loans ]
[Consumer Protection ]
[Housing ]
[Medicare and Medicaid ]
[Budget and Spending ]
[Veterans ]
[Senior Citizens ]
[Children and Youth ]
[Data Privacy ]
Revises provisions related to the administration of the Consumer Financial Protection Bureau (CFPB). (Sec. 3) The bill amends all statutory references to the "Bureau of Consumer Financial Protection" to refer instead to the "Consumer Financial Protection Bureau." (Sec. 5) Specified units, offices, and boards of the CFPB must perform their assigned duties and may not be renamed or reorganized. The bill establishes requirements for staffing levels, political appointees, and the publication of consumer complaints regarding consumer financial products
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Sponsored by: Rep. Gregory W. Meeks
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/23/2019
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SAFE Lending Act of 2019 Stopping Abuse and Fraud in Electronic Lending Act of 2019 [S.656]
[Consumer Protection ]
[Finance ]
[Small Business ]
[Data Privacy ]
Revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary
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Sponsored by: Sen. Dianne Feinstein
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/05/2019
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Vladimir Putin Transparency Act [HB-1404]
[International ]
[National Security ]
[Finance ]
[Cybersecurity ]
Directs the Office of the Director of National Intelligence to report to Congress about Russian President Vladimir Putin. The report shall address topics including (1) Putin's estimated net worth and known assets; (2) methods he uses to conceal his assets, such as intermediaries and shell companies; and (3) the identities of the most significant Russian senior officials and oligarchs who help Putin hide his true financial condition.
Sponsored by: Rep. Steve Cohen
Received In The Senate And Read Twice And Referred To The Select Committee On Intelligence. on 03/13/2019
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Lifelong Learning and Training Account Act of 2019 [S.539]
[Education ]
[Taxes ]
[Labor, Jobs, Employment ]
[Budget and Spending ]
[Funding ]
[Grants ]
[Economic Development ]
Establishes tax-preferred savings accounts that may be used to pay for training expenses and will be managed by state programs known as Lifelong Learning and Training Account programs. Tax-exempt distributions from an account may be used for training that results in a recognized postsecondary credential, such as an industry-recognized certificate or certification, a license recognized by the federal government or a state, or an associate or baccalaureate degree. The bill specifies contribution limits, age restrictions, and income limits that apply
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Sponsored by: Sen. Mark R. Warner
Read Twice And Referred To The Committee On Finance. on 02/25/2019
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A bill to require the Secretary of the Treasury to consider certain transactions related to precious metals for purposes of identifying jurisdictions of primary money laundering concern, and for other purposes. [S.533]
[Finance ]
[International ]
[Trade ]
[Law Enforcement ]
[National Security ]
[Crime ]
Directs the Department of the Treasury to consider sanctioned transactions involving precious metals when assessing whether a jurisdiction, financial institution, class of transactions, or type of account is of primary money laundering concern for purposes of reporting, recordkeeping, and certain account restrictions.
Sponsored by: Sen. Thom Tillis
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/14/2019
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Improving Access to Traditional Banking Act of 2019 [HB-1285]
[Finance ]
[Consumer Protection ]
[Poverty ]
Establishes in the Consumer Financial Protection Bureau the Office for Under-Banked, Un-Banked, and Underserved Consumers. The office must, in part (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.
Sponsored by: Rep. Eleanor Holmes Norton
Introduced In House on 02/14/2019