financialservices.house.gov
Cmte Financial Services (R)
Contact:
House Approves Hensarling Amendment to Transportation Bill
Washington, Nov 5 -
Financial Services Committee Chairman Jeb Hensarling (R-TX) successfully attached a package of 15 bipartisan bills to transportation legislation being considered by the House. The bills were offered as an amendment by Chairman Hensarling which passed the House without opposition. “People are still hurting in this economy. We need to do everything we can to promote economic growth. It is very difficult to come by bipartisan bills, but I am proud to say that in the House Financial Services Committee we have passed numerous pieces of bipartisan legislation. They are modest because they are bipartisan, but they are important and can make a difference in people’s lives,” said Chairman Hensarling. The 15 bills included in the Hensarling amendment had previously passed the House as stand-alone measures with strong bipartisan support. “This amendment contains bipartisan bills that have already received overwhelming support from virtually every member of the House. These bills simplify rules and regulations, aid consumers, assist low-income housing residents, and help us build a healthier economy for all,” said Chairman Hensarling. Below is information about the bills included in the Hensarling amendment. H.R. 2064, the Improving Access to Capital for Emerging Growth Companies Act Sponsors: Reps. Stephen Fincher (R-TN) and John Delaney (D-MD) Summary: Makes changes related to the treatment of Emerging Growth Companies and their registration with the SEC. The Financial Services Committee approved the bill by a vote of 57-0. The bill passed the House by voice vote on July 14. H.R. 1525, the Disclosure Modernization and Simplifications Act of 2015 Sponsor: Rep Scott Garrett (R-NJ) Summary: Directs the SEC to simplify its disclosure regime for issuers and investors. The Financial Services Committee approved the bill by a vote of 60-0. The bill passed the House by voice vote on Oct. 6. H.R. 1698, the Bullion and Collectible Coin Production Efficiency and Cost Savings Act Sponsor: Rep. Bill Huizenga (R-MI) Summary: Amends design and content requirements for certain gold and silver coins produced by the United States Mint. The bill passed the House by voice vote on June 23. Sponsor: Rep Blaine Luetkemeyer (R-MO) Summary: Amends the Investment Advisers Act of 1940 to reduce unnecessary regulatory costs and eliminate duplicative regulation of advisers to SBICs. The Financial Services Committee approved the bill by a vote of 53-0. The bill passed the House by voice vote on July 14. H.R. 601, the Eliminate Privacy Notice Confusion Act Summary: Reduces confusion among consumers by clarifying that they will receive privacy notices after opening a new account when their financial institution’s privacy policies change rather than an annual notice. The Financial Services Committee approved the bill by a vote of 57-0. The bill passed the House by voice vote on April 13. Sponsor: Rep. Erik Paulson (R-MN) Summary: Amends the Low-Income Housing Preservation and Resident Homeownership Act of 1990 to allow owners (including nonprofits) of HUD federally-subsidized multifamily developments access to remaining profits after all operating expenses and maintenance costs. The bill passed the House by voice vote on July 14. Sponsor: Rep. Earl Perlmutter (D-CO) Summary: Allows tenants on a fixed income to have their income certified and/or verified once every three years rather than annually. This bi-partisan legislation will help streamline and reduce the burdens placed on tenants for purposes of determining their eligibility for certain Federal assistance housing programs, including seniors and other individuals and families who consistently maintain a fixed income. The bill passed the House by voice vote on March 23. Sponsor: Rep. Scott Peters (D-CA) Summary: Amends the McKinney-Vento Homeless Assistance Act to allow (in addition to a state, local government, or public housing agency) a private nonprofit organization to administer permanent housing rental assistance provided through the Continuum of Care Program under the Act. The bill passed the House by voice vote on July 14. Summary: Helps state and local support enforcement agencies aid families in collecting child support payments. The bill passed the House by voice vote on Oct. 6. Sponsor: Rep. Dennis Ross (R-FL) Summary: Provides the Department of Housing and Urban Development (HUD) the authority to establish a demonstration program and enter into budget-neutral, performance-based agreements that result in the reduction in energy or water costs for multi-family housing. The bill passed the House by a vote of 395-28 on July 14. Summary: Allows privately insured state chartered credit unions to apply for membership in the Federal Home Loan Bank System, which would help them better serve the financial needs of consumers. The bill passed the House by a vote of 395-0 during the 113th Congress. The Financial Services Committee approved the bill by a vote of 56-1. The bill passed the House by voice vote on April 13. Summary: Provides regulatory relief for community financial institutions suffering under the regulatory red tape regime of the Dodd-Frank Act by allowing well-managed institutions to qualify for modified exam cycles. The bill was approved by the Financial Services Committee 58-0. The bill passed the House 411-0 on Oct. 6. H.R. 1723, the Small Business Freedom and Growth Act Sponsors: Reps. Ann Wagner (R-MO) and Terri Sewell (D-AL) Summary: Simplifies the registration process for new securities offerings. The Financial Services Committee approved the bill by a vote of 60-0. The bill passed the House 426-0 on July 14. H.R. 1334, the Holding Company Registration Threshold Equalization Act of 2015 Sponsors: Reps. Steve Womack (R-AR), Ann Wagner (R-MO) and Jim Himes (D-CT) Summary: Applies the shareholder registration and deregistration thresholds contained in the JOBS Act to savings and loan holding companies. The Financial Services Committee approved the bill by a vote of 60-0.
H.R. 432, the SBIC Advisers Relief Act of 2015
Sponsor: Rep. Blaine Luetkemeyer (R-MO)
H.R. 1839, the Reforming Access for Investments in Startup Enterprises Act
Sponsor: Rep. Patrick McHenry (R-NC)
Summary: H.R. 1839 will promote a liquid secondary market for shareholders seeking to sell private securities. It will also encourage startups and private companies to both attract and retain talented employees and raise needed equity capital to grow their businesses.
H.R. 1839 passed the Financial Services Committee by a vote of 58-0.
The bill passed the House by a vote of 404-0 on Oct. 6.
H.R. 2482, the Preservation Enhancement and Savings Opportunity Act
H.R. 233, the Tenant Income Verification Relief Act
H.R. 1047, the Housing Assistance Efficiency Act
H.R. 2091, the Child Support Assistance Act of 2015
Sponsor: Rep. Bruce Poliquin (R-ME)
The bill passed the Financial Services Committee 56-2.
H.R. 2997, the Private Investment in Housing Act
H.R. 299, the Capital Access for Small Community Financial Institutions Act
Sponsor: Rep. Steve Stivers (R-OH)
H.R. 1553, the Small Bank Exam Cycle Reform Act of 2015
Sponsor: Rep. Scott Tipton (R-CO)
The bill passed the House by voice vote on July 14.