Rep. Mike Flood

Maddy summaryThis bill amends the definition of "accredited investor" under securities law to create a new pathway for individuals to qualify. It requires the SEC to establish a free, publicly available certification exam within 180 days of enactment, testing knowledge of private investment risks and regulations. The exam would cover specific areas like types of securities, disclosure requirements, financial statements, and key risks associated with private investments (such as limited liquidity, information asymmetry, and valuation methods). Individuals passing this exam would qualify as accredited investors, directly affecting those seeking to invest in private companies or private funds without meeting traditional income/net worth thresholds. The exam must be administered by a registered securities association and designed to assess financial sophistication.

Maddy summaryThis bill requires that AM radio receivers be included as standard equipment in all new motor vehicles (such as cars and trucks) sold in the United States, with a rule to be issued by the Department of Transportation within one year. The rule must ensure AM radio is easily accessible on the dashboard and allows manufacturers to use digital AM radio technology instead of traditional AM. During the one-year period between the bill's enactment and the rule's effective date, manufacturers must clearly label vehicles without AM radio. The bill also directs a study to evaluate whether an alternative system could deliver emergency alerts as reliably as AM radio across the country, especially during crises.

This resolution recognizes the effects of loneliness and isolation on the health and well-being of all Americans and supports research to combat the effects.

Maddy summaryHR 3238, the Affordable Housing Credit Improvement Act of 2023, updates the Low-Income Housing Tax Credit (LIHTC) program to increase the availability of affordable housing across the United States. The bill makes several key changes including increasing state funding formulas, modifying tenant eligibility rules to better serve vulnerable populations (such as domestic violence victims and students), and expanding credit eligibility for projects in rural and Native American communities. Specific provisions raise the credit for properties serving extremely low-income households, clarify rules around tenant income increases, and require housing providers to protect victims of domestic violence. The bill also updates terminology from "low-income" to "affordable" throughout the tax code and enhances program transparency through data sharing requirements. These changes aim to make the LIHTC program more effective at creating and preserving affordable housing units for low-income households nationwide.

Maddy summaryThe Beagle Brigade Act of 2023 establishes a National Detector Dog Training Center to train dogs and handlers for detecting foreign pests and diseases threatening U.S. agriculture and natural resources. The Center will collaborate with agencies like U.S. Customs and Border Protection and state agriculture departments to safeguard farms and ecosystems. It requires annual funding for operations and mandates a congressional report within one year detailing pest threats, Center effectiveness, and recommendations for improving detection capabilities. The law directly affects agricultural protection efforts by enhancing canine-based prevention of invasive species.

Maddy summaryThe ACRE Act of 2023 amends the tax code to exclude interest income from certain rural and agricultural loans from taxable income for eligible lenders. It directly affects banks, savings associations, and their wholly-owned entities that provide qualified loans secured by rural or agricultural real estate, including single-family homes in designated rural areas (with a $750,000 loan balance cap) or aquaculture facilities. The key provision allows these lenders to exclude interest earned on qualifying loans from their gross income, effectively reducing their tax liability on such lending activity. The bill applies to loans made after its enactment date and aligns with existing definitions of rural property from the Agricultural Credit Act of 1987.

Maddy summaryHR 2785, the REEF Act, amends a 2020 law to change when certain payments from the Railroad Unemployment Insurance Account take effect. It retroactively applies changes to these payments as if they had been in place before the national emergency related to the COVID-19 pandemic ended. This directly affects railroad workers who receive unemployment benefits through this account, ensuring they receive payments under the revised timing. The bill's key change is making the effective date of these payment rules apply retroactively from before the pandemic emergency period.

American Innovation and R&D Competitiveness Act of 2023 This bill eliminates the five-year amortization requirement for research and experimental expenditures, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.

Maddy summaryHR 1645 establishes a national biochar research network with up to 20 research sites to study how biochar (a charcoal-like soil additive) affects soil health, carbon storage, and crop production across different conditions. The network will test various biochar types, production methods, and applications to provide region-specific guidance for farmers, ranchers, foresters, and urban land managers on sustainable use. It authorizes $50 million annually (2023-2028) for USDA-administered research, focusing on soil carbon sequestration, climate mitigation, and practical farming applications. The research aims to develop science-based recommendations for improving soil health, reducing emissions, and supporting farm profitability through biochar integration.

Maddy summaryHJRES 27 is a congressional resolution seeking to block a federal rule that redefined which waterways fall under the Clean Water Act's protections. It targets a rule submitted by the Army Corps of Engineers, Department of Defense, and Environmental Protection Agency (EPA) on January 18, 2023, which aimed to revise the "Waters of the United States" definition. The resolution would formally disapprove this rule under a specific federal procedure (Chapter 8 of Title 5), preventing it from taking effect. This would directly affect how federal agencies regulate pollution and development near water bodies, including wetlands and smaller streams.