US HB6249 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on March 12 2020 - 25% progression, died in committee
Action: 2020-03-12 - Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 12 2020 - 25% progression, died in committee
Action: 2020-03-12 - Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Temporarily prohibits financial regulators from requiring any person impacted by COVID-19 (coronavirus disease 2019) to comply with the current expected credit loss rule issued by the Financial Accounting Standards Board in June 2016. (This rule establishes a credit loss accounting standard based on expected losses rather than incurred losses.) The prohibition ends six months after the date of enactment.
Title
Coronavirus Accounting Relief Act
Sponsors
| Rep. Blaine Luetkemeyer [R-MO] | Rep. Garland Barr [R-KY] | Rep. Bryan Steil [R-WI] | Rep. Bill Huizenga [R-MI] |
| Rep. Roger Williams [R-TX] | Rep. Denver Riggleman [R-VA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-03-12 | House | Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
| 2020-03-12 | House | Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. |
| 2020-03-12 | House | Introduced in House |
Subjects
Accounting and auditing
Banking and financial institutions regulation
Cardiovascular and respiratory health
Credit and credit markets
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
Banking and financial institutions regulation
Cardiovascular and respiratory health
Credit and credit markets
Emergency medical services and trauma care
Finance and financial sector
Infectious and parasitic diseases
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/6249/all-info |
| Text | https://www.congress.gov/116/bills/hr6249/BILLS-116hr6249ih.pdf |
