Sen. Bill Hagerty

Maddy summaryThis bill requires investment companies and their transfer agents to implement safeguards for "specified adults" (individuals aged 65+ or with mental/physical impairments that limit their ability to protect their interests). It mandates that these firms request and retain contact information for a trusted person when a customer holds a direct-at-fund account, and allows them to postpone redemptions for up to 15 business days (extendable by 10 days) if they reasonably suspect financial exploitation during a redemption request. Firms must document all delays, notify designated contacts within 2 days of an extension, and hold funds in a demand deposit account during the delay. The law also requires firms to establish internal procedures for handling such cases and include redemption delay notices in prospectuses.

Maddy summaryThe ROAD to Housing Act (S 5027) is a comprehensive housing bill aimed at improving housing access, financial literacy, and support for vulnerable populations. It reforms housing counseling programs to prioritize areas with high foreclosure rates, creates incentives for small dollar mortgage originators, and updates regulations to encourage lending for mortgages under $70,000. The bill also expands the Moving to Work Program for public housing agencies to increase flexibility in providing housing assistance, introduces incentives for local communities to reduce homelessness, and requires annual oversight testimony from housing regulators. These provisions primarily affect HUD programs, public housing agencies, housing counselors, and low-to-moderate income households seeking housing assistance.

Maddy summaryThis resolution (SRES 806) is a symbolic recognition by the U.S. Senate of May 22, 2024, as the 205th anniversary of Memphis, Tennessee's founding. It acknowledges Memphis' historical significance in U.S. history, culture, and economy - highlighting its role as a transportation hub, Civil Rights Movement site, home to St. Jude Hospital, and birthplace of blues and rock 'n' roll music. The resolution contains no new laws, funding, or policy changes; it is purely a ceremonial acknowledgment with no direct effect on residents or legislation.

Maddy summaryThe VALOR Act of 2024 establishes specific criteria for determining when a democratically elected government exists in Venezuela, requiring the President to submit such determinations to Congress. The bill imposes sanctions on the Maduro regime and blocks transactions involving Venezuelan government debt instruments, cryptocurrency, and property, while requiring regular reports on sanctions implementation and foreign entities doing business with the Maduro regime. It outlines a plan for U.S. assistance to Venezuela once a democratically elected government is recognized, including humanitarian aid and support for democratic institutions, with the President required to submit determinations to Congress when such a government is in place. The act affects U.S. engagement with international financial institutions regarding Venezuela and sets conditions for lifting sanctions as democratic progress is made.

Maddy summarySRES 800 is a symbolic Senate resolution introduced on August 1, 2024, by a bipartisan group of senators. It condemns the July 13, 2024, attempted assassination of Donald J. Trump at a Butler, Pennsylvania, rally and honors three individuals affected: Corey D. Comperatore (who died shielding his family), David Dutch (critically injured), and James Copenhaver (critically injured). The resolution calls for national unity and civility following the violent incident. As a non-binding resolution, it does not create new laws or policies but expresses the Senate's stance on the event.

Maddy summaryThis resolution formally congratulates the University of Tennessee, Knoxville baseball team for winning the 2024 College World Series - their first national championship in program history. It highlights their record-breaking season (60 wins, 5 players with 20+ home runs) and directs the Senate to send copies to the team’s coach, university chancellor, and athletic director. As a ceremonial resolution, it has no legal effect and solely expresses Senate recognition of the team’s achievement.

Maddy summaryThe NO FAKES Act of 2024 establishes legal rights for individuals to control how their voice and visual likeness can be used in digital replicas (AI-generated representations that are highly realistic but not authentic to the individual's actual performance). It gives living individuals the right to authorize or prohibit digital replicas of themselves, with specific licensing rules for minors and provisions for rights to transfer to heirs after death. The bill creates liability for unauthorized creation, distribution, or display of digital replicas, while providing exceptions for news, documentaries, commentary, and other protected speech. Online services hosting user-generated content are protected from liability if they promptly remove alleged unauthorized content upon receiving proper notice. The law preempts conflicting state laws regarding digital likeness rights for expressive works, establishing a federal standard for these protections.

Maddy summaryThis bill (S 4917) updates securities laws to exempt certain retirement plans used by charities and educational institutions from registration requirements. It specifically clarifies that 403(b) plans meeting ERISA standards, with employer fiduciary oversight for investment choices, and pre-approved investments qualify for exemption under the Securities Act of 1933 and Securities Exchange Act of 1934. The key change removes administrative barriers for these organizations, allowing them to offer retirement plans without additional SEC registration. This directly affects non-profits, schools, and similar institutions that provide 403(b) retirement benefits to employees. The policy change streamlines access to tax-advantaged retirement options without altering plan benefits.

Maddy summaryThis bill amends federal law to eliminate "official time," requiring federal employees to perform union-related activities during non-duty hours instead of during regular work time. It directly affects federal employees who are union members, as it removes the current practice of using taxpayer-funded work hours for union business. The key provision changes Section 7131 of Title 5, U.S. Code, to state that any work for a labor organization must occur outside of regular duty time. This policy change shifts the timing of union activities from paid work hours to personal time, reducing government resource use for such tasks.

Maddy summaryThis bill requires the U.S. President to impose sanctions on foreign individuals and entities that support the Palestinian Authority and Palestine Liberation Organization's system of paying terrorists and their families, which the bill states incentivizes terrorism. Sanctions include blocking U.S. property, denying visas, and restricting financial transactions with officials, organizations (like the Commission of Prisoners), or financial institutions facilitating these payments. The President must act within 90 days of enactment, and sanctions remain in effect until the Secretary of State certifies the payments have ceased. The bill builds on the 2018 Taylor Force Act, which previously tied U.S. aid to ending such payments.