US Congress House Bill 7809 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 56-23)
Status: Introduced on July 29 2020 - 25% progression, died in committee
Action: 2020-07-29 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Establishes an equity facility in the Department of the Treasury to assist commercial mortgage borrowers. Specifically, Treasury must guarantee the purchase by financial institutions of certain equity instruments backed by a commercial mortgage. The bill defines commercial mortgage as a mortgage loan secured by an interest in real property owned for rental income. Borrowers with reduced revenues from their commercial property may qualify for an amount not to exceed 10% of the outstanding amount owed on their commercial mortgage. The bill sets forth eligibility requirements for borrowers, as well as requirements for the equity instruments, including rates, fees, repayment, and the rights of purchasers.

HOPE Act of 2020 Helping Open Properties Endeavor Act of 2020

Rep. Nicholas Taylor [R-TX]	Rep. Al Lawson [D-FL]	Rep. Garland Barr [R-KY]	Rep. David Kustoff [R-TN]
Rep. James Hagedorn [R-MN]	Rep. Harley Rouda [D-CA]	Rep. Glenn Grothman [R-WI]	Rep. Vicente Gonzalez [D-TX]
Rep. Brian Fitzpatrick [R-PA]	Rep. Michael Guest [R-MS]	Rep. Cathy McMorris Rodgers [R-WA]	Rep. Gregory Pence [R-IN]
Rep. Ed Case [D-HI]	Rep. David Rouzer [R-NC]	Rep. Tom Reed [R-NY]	Rep. Guy Reschenthaler [R-PA]
Rep. Bill Posey [R-FL]	Rep. Jeff Van Drew [R-NJ]	Rep. Dan Bishop [R-NC]	Rep. Ralph Norman [R-SC]
Rep. Bruce Westerman [R-AR]	Rep. Richard Hudson [R-NC]	Rep. Charlie Crist [D-FL]	Rep. Dean Phillips [D-MN]
Rep. Don Bacon [R-NE]	Rep. Steve Stivers [R-OH]	Sen. Ted Budd [R-NC]	Rep. Jack Bergman [R-MI]
Rep. Anthony Gonzalez [R-OH]	Rep. John Moolenaar [R-MI]	Rep. David Schweikert [R-AZ]	Rep. John Katko [R-NY]
Rep. Tim Walberg [R-MI]	Rep. Robert Latta [R-OH]	Rep. John Carter [R-TX]	Rep. Joe Cunningham [D-SC]
Rep. Josh Harder [D-CA]	Rep. Raul Grijalva [D-AZ]	Rep. Fred Upton [R-MI]	Rep. Debbie Lesko [R-AZ]
Rep. Kendra Horn [D-OK]	Rep. James Baird [R-IN]	Rep. Bradley Byrne [R-AL]	Rep. Kevin Hern [R-OK]
Rep. Bill Huizenga [R-MI]	Rep. Joe Wilson [R-SC]	Rep. Lance Gooden [R-TX]	Rep. Daniel Webster [R-FL]
Rep. Alexander Mooney [R-WV]	Rep. Alcee Hastings [D-FL]	Rep. Larry Bucshon [R-IN]	Rep. Tom Graves [R-GA]
Rep. Denver Riggleman [R-VA]	Rep. Norma Torres [D-CA]	Rep. John Curtis [R-UT]	Rep. Jackie Walorski [R-IN]
Rep. Elissa Slotkin [D-MI]	Rep. Pete Stauber [R-MN]	Rep. Jason Smith [R-MO]	Rep. Raul Ruiz [D-CA]
Rep. Fred Keller [R-PA]	Rep. Ann Wagner [R-MO]	Rep. Bill Foster [D-IL]	Rep. Tom Tiffany [R-WI]
Rep. Barry Loudermilk [R-GA]	Rep. Francis Rooney [R-FL]	Rep. Raja Krishnamoorthi [D-IL]	Rep. Darin LaHood [R-IL]
Rep. Ami Bera [D-CA]	Rep. Mike Quigley [D-IL]	Rep. David Trone [D-MD]	Rep. James Comer [R-KY]
Rep. Tom Cole [R-OK]	Rep. Haley Stevens [D-MI]	Rep. Henry Cuellar [D-TX]	Rep. Grace Napolitano [D-CA]
Rep. Stephanie Murphy [D-FL]	Rep. David Joyce [R-OH]	Rep. Tom Emmer [R-MN]

Date	Chamber	Action
2020-07-29	House	Referred to the House Committee on Financial Services.
2020-07-29	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/7809/all-info
Text	https://www.congress.gov/116/bills/hr7809/BILLS-116hr7809ih.pdf