Federal Reserve System
US Congress 116th Congress
Jobs and Neighborhood Investment Act [HB-7709]
[Community Development ]
[Economic Development ]
[Finance ]
[Funding ]
[Grants ]
[Housing ]
[Labor, Jobs, Employment ]
[Small Business ]
[Poverty ]
Establishes investment programs and generally revises provisions related to community development financial institutions and minority depository institutions. The Department of the Treasury must establish a Neighborhood Capital Investment Program to facilitate direct capital investments in low- and moderate-income community financial institutions. To qualify for the program, these institutions must, among other things, (1) demonstrate specified lending history regarding low-and moderate-income borrowers and other targeted populations, and (2) provide
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Sponsored by: Rep. Gregory W. Meeks
Introduced In House on 07/21/2020
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Uplifting Our Local Communities Act [HB-7498]
[Budget and Spending ]
[Community Development ]
[Economic Development ]
[Funding ]
[Grants ]
[Public Health ]
To authorize Federal reserve banks to purchase COVID-19 related municipal issuances, and for other purposes.
Sponsored by: Rep. Rashida Tlaib
Introduced In House on 07/06/2020
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Unfunded Mandates Accountability and Transparency Act [HB-7332]
[Budget and Spending ]
[Small Business ]
[Consumer Protection ]
[Public Health ]
[Technology and Innovation ]
[Trade ]
[Labor, Jobs, Employment ]
[Economic Development ]
Revises rulemaking requirements with respect to unfunded mandates. Specifically, the bill requires federal agencies to prepare and publish in the Federal Register an initial and final regulatory impact analysis prior to promulgating any proposed or final major rule. The analysis must include regulatory alternatives to the rule. Major rule means a rule that the Office of Information and Regulatory Affairs determines is likely to cause an annual effect on the economy of $100 million or more; a major increase in costs or prices for consumers, individual
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Sponsored by: Rep. Collin C. Peterson
Introduced In House on 06/25/2020
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Unfunded Mandates Accountability and Transparency Act [S.4077]
[Budget and Spending ]
[Small Business ]
[Consumer Protection ]
[Public Health ]
[Technology and Innovation ]
[Trade ]
[Labor, Jobs, Employment ]
[Economic Development ]
Revises rulemaking requirements with respect to unfunded mandates. Specifically, the bill requires federal agencies to prepare and publish in the Federal Register an initial and final regulatory impact analysis prior to promulgating any proposed or final major rule. The analysis must include regulatory alternatives to the rule. Major rule means a rule that the Office of Information and Regulatory Affairs determines is likely to cause an annual effect on the economy of $100 million or more; a major increase in costs or prices for consumers, individual
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Sponsored by: Sen. Rob Portman
Committee On Homeland Security And Governmental Affairs. Reported By Senator Johnson With An Amendment. With Written Report No. 116-333. on 12/16/2020
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American Assistance for American Companies Act [S.4067]
[Taxes ]
[Finance ]
[Small Business ]
[Budget and Spending ]
[Economic Development ]
Disallows certain tax benefits for inverted domestic corporations. An inverted domestic corporation is a U.S. corporation that acquires foreign entities to reincorporate in a foreign jurisdiction with income tax rates lower than U.S. rates). Specifically, an inverted domestic corporation may not claim net operating loss carrybacks, increased deductibility of business interest, nor participate in Federal Reserve Lending Facilities. The bill allows an inverted domestic corporation to elect to be treated as a domestic corporation for U.S. tax purposes.
Sponsored by: Sen. Richard Durbin
Read Twice And Referred To The Committee On Finance. (text: Cr S3209-3210) on 06/24/2020
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Emergency Housing Protections and Relief Act of 2020 [HB-7301]
[Housing ]
[Healthcare ]
[Senior Citizens ]
[Disabilities ]
[Disaster Relief ]
[Funding ]
[Grants ]
[Human Services ]
[Public Health ]
[Consumer Protection ]
[Real Estate ]
[Family-Related Legislation ]
[Poverty ]
Addresses various housing issues in response to the COVID-19 (i.e., coronavirus disease 2019) public health emergency, including housing assistance programs and moratoriums on evictions and foreclosures. The bill authorizes additional housing assistance, including rental assistance, for (1) low-income individuals with families, including those who are homeless or at risk of homelessness; (2) the elderly; (3) individuals with disabilities; and (4) rural renters. In addition, the bill establishes a 12-month moratorium on evictions covering all tenants,
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Sponsored by: Rep. David Scott
Received In The Senate. on 06/30/2020
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American Assistance for American Companies Act [HB-7309]
[Taxes ]
[Finance ]
[Small Business ]
[Budget and Spending ]
[Economic Development ]
Disallows certain tax benefits for inverted domestic corporations. An inverted domestic corporation is a U.S. corporation that acquires foreign entities to reincorporate in a foreign jurisdiction with income tax rates lower than U.S. rates). Specifically, an inverted domestic corporation may not claim net operating loss carrybacks, increased deductibility of business interest, nor participate in Federal Reserve Lending Facilities. The bill allows an inverted domestic corporation to elect to be treated as a domestic corporation for U.S. tax purposes.
Sponsored by: Rep. Earl Blumenauer
Introduced In House on 06/24/2020
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Financial Product Safety Commission Act of 2020 [S.3990]
[Finance ]
[Consumer Protection ]
Removes the Consumer Financial Protection Bureau from the Federal Reserve System, converts the bureau into an independent commission, and modifies its leadership structure. Specifically, the bill eliminates the positions of director and deputy director and establishes a five-person commission appointed by the President and confirmed by the Senate.
Sponsored by: Sen. David Perdue
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 06/17/2020
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Special Districts Provide Essential Services Act [HB-7073]
[Funding ]
[Public Health ]
[Transportation and Motor Vehicles ]
[Healthcare ]
[Disaster Relief ]
[Public Safety ]
[Law Enforcement ]
[Community Development ]
Makes special districts eligible for payments from the Coronavirus Relief Fund if more than $150 billion is appropriated to the fund. The bill also directs the Board of Governors of the Federal Reserve System to include special districts as eligible issuers in the Municipal Liquidity Facility program. A special district is a political subdivision, formed pursuant to general law or special act of a state, for the purpose of performing one or more governmental or proprietary functions. Services that such districts provide include first responders,
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Sponsored by: Rep. Barbara Lee
Sponsor Introductory Remarks On Measure. (cr E505) on 06/01/2020
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Uniform Treatment of NRSROs Act [HB-6934]
[Finance ]
[Small Business ]
[Economic Development ]
[Funding ]
[Grants ]
[Consumer Protection ]
Provides for the uniform treatment under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs of nationally recognized statistical rating organizations registered with the Securities and Exchange Commission. This allows entities, securities, and other instruments with a credit rating from such an organization to use the rating to qualify for these aid programs. Furthermore, the Government Accountability Office must report on credit rating quality across organizations, their effect on access to capital markets, and the implementation
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Sponsored by: Rep. David Scott
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 09/22/2020
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To prohibit the Secretary of the Treasury and the Board of Governors of the Federal Reserve System from waiving provisions related to COVID-19 emergency relief and taxpayer protections related to such relief. [HB-6852]
[Finance ]
[Taxes ]
[Budget and Spending ]
[Small Business ]
[Economic Development ]
Prohibits the Department of the Treasury and the Federal Reserve Board from waiving requirements related to COVID-19 (i.e., coronavirus disease 2019) economic aid. Businesses receiving this aid must comply with compensation limits, bans on stock buybacks, and prohibitions on payment of stock dividends, among other requirements.
Sponsored by: Rep. Carolyn B. Maloney
Introduced In House on 05/13/2020
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The Heroes Act [HB-6800]
[Healthcare ]
[Housing ]
[Immigration ]
[Student Loans ]
[Medicare and Medicaid ]
[Taxes ]
[Budget and Spending ]
[Small Business ]
[Consumer Protection ]
[Food ]
[Veterans ]
[Public Health ]
[Mental Health ]
[Children and Youth ]
[Economic Development ]
[Elections ]
[Funding ]
[Grants ]
[Human Services ]
[Pensions ]
[Pharmaceuticals ]
[Poverty ]
[Retirement ]
[Labor, Jobs, Employment ]
[Telecommunications ]
[Transportation and Motor Vehicles ]
[Insurance ]
[Cybersecurity ]
[Data Privacy ]
[Disaster Relief ]
[Unemployment ]
Responds to the COVID-19 (i.e., coronavirus disease 2019) outbreak and its impact on the economy, public health, state and local governments, individuals, and businesses. Among other things, the bill provides FY2020 emergency supplemental appropriations to federal agencies; provides payments and other assistance to state, local, tribal, and territorial governments; provides additional direct payments of up to $1,200 per individual; expands paid sick days, family and medical leave, unemployment compensation, nutrition and food assistance programs,
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Sponsored by: Rep. Raul M. Grijalva
Committee On Small Business And Entrepreneurship. Hearings Held. on 07/23/2020
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Federal Reserve Accountability and Justification Act [HB-3928]
[Finance ]
[Technology and Innovation ]
[Consumer Protection ]
Requires the Federal Reserve Board to satisfy certain requirements prior to providing a new payment service or substantially changing existing payment services.
Sponsored by: Rep. Denver Riggleman
Introduced In House on 07/24/2019
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To amend the CARES Act to provide forbearance and foreclosure moratoriums for all mortgage loans, and for other purposes. [HB-6741]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
[Disaster Relief ]
To amend the CARES Act to provide forbearance and foreclosure moratoriums for all mortgage loans, and for other purposes.
Sponsored by: Rep. Sean Patrick Maloney
Introduced In House on 05/08/2020
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Community Impact Financial Institutions Inclusion Act of 2020 [HB-6775]
[Finance ]
[Small Business ]
[Economic Development ]
[Funding ]
[Grants ]
[Community Development ]
Allocates a certain portion of specified COVID-19 (i.e., coronavirus disease 2019) economic aid to finance loans originated by small financial institutions. Specifically, 20% of this aid must be allocated to community lenders, insured depository institutions, and credit unions with less than $10 billion in assets and 5% of this aid must be allocated to minority depository institutions and community development financial institutions with less than $10 billion in assets.
Sponsored by: Rep. Gregory W. Meeks
Introduced In House on 05/08/2020
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Automatic Boost to Communities Act [HB-6553]
[Funding ]
[Grants ]
[Consumer Protection ]
[Economic Development ]
[Public Health ]
[Budget and Spending ]
To direct the Secretary of the Treasury to establish the Boost Communities Program to provide monthly payments to America's consumers during the COVID-19 emergency to recover from the emergency, and for other purposes.
Sponsored by: Rep. Janice D. Schakowsky
Introduced In House on 04/17/2020
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National Infrastructure Bank Act of 2020 [HB-6422]
[Infrastructure ]
[Finance ]
[Labor, Jobs, Employment ]
[Construction ]
[Economic Development ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Energy ]
Creates the National Infrastructure Bank to facilitate the long-term financing of infrastructure projects. Specifically, the bank must provide loans to public and private entities for financing, developing, or operating eligible infrastructure projects. An eligible project must have a public sponsor as well as local, regional, or national significance. The bill also provides for various criteria and preferences for purposes of deciding whether to provide a loan, such as whether a project promotes job creation or provides environmental health benefits.
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Sponsored by: Rep. Danny K. Davis
Referred To The Subcommittee On Water, Oceans, And Wildlife. on 04/23/2020
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Relief for Small Businesses and Nonprofits Act [HB-6361]
[Small Business ]
[Nonprofit ]
[Funding ]
[Grants ]
[Disaster Relief ]
[Economic Development ]
To provide loan and obligation payment relief for small businesses and nonprofits affected by the COVID-19 emergency, and for other purposes.
Sponsored by: Rep. Alan S. Lowenthal
Introduced In House on 03/23/2020
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Emergency Relief for State, Territorial and Local Governments Act of 2020 [HB-6328]
[Budget and Spending ]
[Disaster Relief ]
[Economic Development ]
[Funding ]
[Grants ]
[Public Health ]
Requires the Federal Reserve Board to purchase municipal bonds issued in response to the COVID-19 (i.e., coronavirus disease 2019) emergency and otherwise modifies the terms under which the board may generally purchase municipal bonds.
Sponsored by: Rep. Eleanor Holmes Norton
Introduced In House on 03/23/2020
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To require the Board of Governors of the Federal Reserve System to establish a credit facility to provide loans to small businesses, including small family farms, during the COVID-19 emergency. [HB-6331]
[Finance ]
[Small Business ]
[Agriculture ]
[Healthcare ]
[Economic Development ]
[Funding ]
[Grants ]
[Disaster Relief ]
Requires the Federal Reserve Board to establish a credit facility to provide loans to certain small businesses during the COVID-19 (i.e., coronavirus disease 2019) emergency.
Sponsored by: Rep. Joyce Beatty
Introduced In House on 03/23/2020