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Week of January 29, 2018

Jan 29, 2018
Legislative Digest
On the Floor This Week: 7 Suspensions and 1 Rule Bill

Monday, January 29th

On Monday, the House will meet at 12:00 p.m. for morning hour and 2:00 p.m. for legislative business. Votes will be postponed until 6:30 p.m.

7 Suspensions 

1) H.R. 3942 - Housing for Survivors of Sex Trafficking (PDF)

Sponsor: Rep. Vicky Hartzler (R-MO) | Judiciary Committee

Topline Summary: This bill would add sex trafficking as an authorized use under transitional housing assistance grants for victims of domestic violence, dating violence, sexual assault, or stalking.

2) S. 534 - Protecting Young Victims from Sexual Abuse and Safe Sport Authorization Act of 2017, as amended (PDF)

Sponsor: Sen. Dianne Feinstein (D-CA) | Judiciary Committee

Topline Summary: This bill extends the mandatory reporting requirements of child abuse to national governing bodies, like USA gymnastics, and affiliated amateur sports organizations, to ensure that reports are immediately made to local or federal law enforcement authorities.

3) H.R. 1457 - To establish requirements for use of a driver’s license or personal identification card by certain financial institutions for opening an account or obtaining a financial product or service, and for other purposes, as amended (PDF)

Sponsor: Rep. Scott Tipton (R-CO) | Financial Services Committee

Topline Summary: This bill authorizes a financial institution, upon an individual’s request, to record personal information from a scan, copy, or image of such individual’s driver’s license or personal identification card and store the information electronically for the purpose of verifying the identity of a customer and preventing fraud or criminal activity, and requires the financial institutions to delete the image after using it for the permitted purpose.

4) H.R. 1426 - Federal Savings Association Charter Flexibility Act of 2017 (PDF)

Sponsor: Rep. Keith Rothfus (R-PA) | Financial Services Committee

Topline Summary: This bill amends the Home Owners Loan Act to permit a federal savings association to elect to operate a subject to supervision by the Comptroller of the Currency (OCC) with the same rights and duties of a national bank. Specifically, the legislation determines any election is approved 60 days after OCC receives the notice, unless OCC notifies the association otherwise.

5) H.R. 2255 - To clarify that nonprofit organizations may accept donated mortgage appraisals, and for other purposes, as amended (PDF)

Sponsor: Rep. Dave Trott (R-ME) | Financial Services Committee

Topline Summary: This bill (1) amends the Truth in Lending Act to allow mortgage appraisal services to be donated by fee appraisers to an organization that is eligible to receive tax-deductible charitable contributions; (2) requires the Securities and Exchange Commission’s (“SEC”) Advocate for Small Business Capital Formation (the “Advocate”) to identify any unique challenges that rural-area small businesses have in securing capital and to include a summary of such issues in the Advocate’s annual report to Congress; and (3) exempts financial institutions and some of their employees from liability in any civil or administrative proceeding in situations where those employees make a report about the potential exploitation of a senior citizen to a governmental agency so long as the entity has provided training and the report is made in good faith. 

6) H.R. 4292 - Financial Institution Living Will Improvement Act of 2017 (PDF)

Sponsor: Rep. Lee Zeldin (R-NY) | Financial Services Committee

Topline Summary: This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to reform the resolution plan submission (“living will”) process by requiring bank holding companies to submit to the Federal Reserve Board (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) resolution plans every two years.

7) H.R. 4792 - Small Business Access to Capital After a Natural Disaster (PDF)

Sponsor: Rep. Nydia Velázquez (D-NY) | Financial Services Committee

Topline Summary: This bill would require the Securities and Exchange Commission’s (“SEC”) Advocate for Small Business Capital Formation (the “Advocate”) to identify any unique challenges to small businesses affected by hurricanes or natural disasters when assessing problems that small businesses have with securing access to capital.


Tuesday, January 30th and the Balance of the Week

On Tuesday, the House will meet at 10:00 a.m. for morning hour and 12:00 p.m. for legislative business. The House will recess no later than 5:00 p.m. and reconvene at approximately 8:35 p.m. for a Joint Session of Congress to receive the President's Address. Members are requested to be on the Floor and seated no later than 8:20 p.m.

On Wednesday, Thursday, and Friday the House is not in session.

1 Rule Bill 

1) H.R. 4877 - Department of Defense Appropriations Act, 2018 (PDF)

Sponsor: Rep. Kay Granger (R-TX) | Appropriations Committee

Topline Summary: This bill provides $659.2 billion in total discretionary budget authority for the Department of Defense for fiscal year (FY) 2018. The bill provides $584 billion for the Department of Defense base budget, and $75.1 billion for the Overseas Contingency Operations (OCO) account to support the Global War on Terrorism (GWOT). This funding fully funds a 2.4% pay raise for our troops, and supports an increase in troop numbers for Active, Reserve, and Guard.

115th Congress