US SB4586 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on September 16 2020 - 25% progression, died in committee
Action: 2020-09-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 16 2020 - 25% progression, died in committee
Action: 2020-09-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Provides for the treatment under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs of nationally recognized statistical rating organizations, retroactive to March 15, 2020. Specifically, the bill prohibits the requirement of a credit rating from a specific organization to qualify for these aid programs. Furthermore, a credit rating from an organization approved by the Securities and Exchange Commission must be accepted to qualify for these aid programs. Additionally, the Government Accountability Office must report on the quality of credit ratings issued by these organizations, their effect on access to capital markets, and the implementation of this bill.
Title
Access to Emergency Credit Facilities Act of 2020
Sponsors
Sen. Tim Scott [R-SC] | Sen. Kyrsten Sinema [I-AZ] |
History
Date | Chamber | Action |
---|---|---|
2020-09-16 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Subjects
Cardiovascular and respiratory health
Congressional oversight
Credit and credit markets
Emergency medical services and trauma care
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Infectious and parasitic diseases
Securities
Small business
Congressional oversight
Credit and credit markets
Emergency medical services and trauma care
Finance and financial sector
Financial services and investments
Government information and archives
Government studies and investigations
Infectious and parasitic diseases
Securities
Small business
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4586/all-info |
Text | https://www.congress.gov/116/bills/s4586/BILLS-116s4586is.pdf |