Rep. Roger Williams

Maddy summaryThis bill amends tax law to allow charitable organizations to fund collegiate housing projects without losing their tax-exempt status. Specifically, it permits 501(c)(3) charities to make grants for building, improving, or maintaining housing properties where full-time students live, as long as the housing is connected to a college or university. Grants cannot fund fitness facilities, and the bill clarifies that housing must primarily serve students (not incidental social activities). It directly affects charitable organizations and universities seeking tax-qualified funding for student housing infrastructure.

Maddy summaryThis bill changes a rule in securities law to allow research reports about any company planning a public stock offering. Previously, the exception only covered "emerging growth companies"; now it applies to all companies ("issuers") planning to sell securities publicly. This directly affects securities analysts and research firms who publish investment reports. The key change broadens the scope of the exception by removing specific company type restrictions and replacing them with general terms.

Maddy summaryThis bill amends the Consumer Financial Protection Bureau's (CFPB) mission to prioritize fair and transparent markets while explicitly adding a focus on strengthening private sector competition without government interference or subsidies. It requires the CFPB to establish an Office of Economic Analysis to review all proposed rules, assess their impact on consumer choice, credit access, and pricing, and publish these findings in the Federal Register. The bill also mandates that new rules must identify the specific problem they solve and include measurable metrics - like changes in consumer access and cost of financial products - to evaluate success. Existing rules must be periodically reviewed (after 1, 2, 5, and 10 years) to determine if they effectively addressed their intended problem.

This joint resolution nullifies the final rule issued by the Consumer Financial Protection Bureau titled Small Business Lending under the Equal Credit Opportunity Act (Regulation B) and published on May 31, 2023. The rule requires financial institutions to collect and report to the bureau credit application data for small businesses. On July 31, 2023, the U.S. District Court for the Southern District of Texas ordered the bureau not to implement or enforce the rule until a related pending case is resolved.

Maddy summaryHR 1806, the Small LENDER Act, reduces reporting burdens for small lenders by creating a phased transition period for new data collection rules under the Equal Credit Opportunity Act. It requires regulators to give qualifying small lenders a 3-year period to comply with new rules and a subsequent 2-year "safe harbor" period during which they aren’t penalized for non-compliance. A "small business lender" is defined as one originating at least 500 small business loans (defined as loans to entities with $1 million or less in annual revenue) in each of the two prior calendar years. This directly affects small lenders meeting these volume thresholds, easing their administrative burden without changing existing lending standards.

Preventing Racial Profiling in Lending Act This bill prohibits a federal agency from requiring any person or entity to estimate a borrower's race or ethnicity through visual observation or surname when extending credit.

Maddy summaryThe Bank Loan Privacy Act (HR 1810) requires the Consumer Financial Protection Bureau (CFPB) to issue a rule with public notice and comment before deleting or modifying data related to credit applications. The rule must describe the intended data changes and explain how they protect consumer privacy. This law directly affects the CFPB's procedures for handling credit data, adding a transparency step before any data modifications. It does not change credit reporting content but mandates public input for privacy-focused data adjustments.

Maddy summaryHR 5, the Parents Bill of Rights Act, would require public schools receiving federal funding to provide parents with greater access to educational information. The bill mandates that schools post curricula online or widely distribute it to parents, include school budgets in report cards, and provide specific information about school activities including violent incidents and plans to eliminate gifted programs. It also guarantees parents the right to meet with teachers twice a year, review library materials, and address school boards. These requirements would apply to all local educational agencies and schools covered by the Elementary and Secondary Education Act. The bill amends existing education laws to strengthen parental transparency and involvement in their children's education.

Let Experienced Pilots Fly Act of 2023 This bill raises the mandatory retirement age for pilots engaged in commercial aviation operations from 65 to 67 years of age, unless the operation takes place in (1) the territorial airspace of a foreign county where such operations are prohibited by the foreign country, or (2) international airspace where such operations are not in compliance with the Annexes to the Convention on International Civil Aviation. The Federal Aviation Administration must also submit a report to Congress on further increasing the age limitation for pilots engaged in commercial aviation operations.

Maddy summaryHR 1613, the Drug Price Transparency in Medicaid Act of 2023, requires Medicaid programs to mandate pass-through pricing for covered outpatient drugs. This means pharmacy benefit managers (PBMs) and managed care entities must pay pharmacies directly for the drug's ingredient cost plus a fixed dispensing fee, eliminating "spread pricing" where PBMs keep profits from the difference between what they pay pharmacies and what Medicaid reimburses. The bill also establishes a national survey of retail pharmacy drug prices to determine average acquisition costs, requiring participating pharmacies to report pricing data to states. These changes apply to Medicaid contracts entered into or renewed 18 months after the bill's enactment, affecting states, PBMs, managed care organizations, and community pharmacies.