Stop Wall Street Looting Act This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill increases financial and legal liability for these funds in the event of certain violations of law, gives employee compensation higher priority in bankruptcies, and generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund. The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.
Sponsored bills
Secure and Fair Enforcement Banking Act of 2021 or the SAFE Banking Act of 2021 This bill generally prohibits a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business. Prohibited penalties include terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate cannabis-related business and prohibiting or otherwise discouraging a depository institution from offering financial services to such a business. Additionally, proceeds from a transaction involving activities of a legitimate cannabis-related business are not considered proceeds from unlawful activity. Proceeds from unlawful activity are subject to anti-money laundering laws. Furthermore, a depository institution is not, under federal law, liable or subject to asset forfeiture for providing a loan or other financial services to a legitimate cannabis-related business. The bill also provides that a federal banking agency may not request or order a depository institution to terminate a customer account unless (1) the agency has a valid reason for doing so, and (2) that reason is not based solely on reputation risk. Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.
This resolution expresses that the Senate has heard the announcement of the death of the Honorable Jacqueline R. Walorski, Congresswoman for the Second Congressional District of Indiana. The resolution also honors Representative Walorski for her service to Indiana and the United States. The resolution expresses that when the Senate adjourns today, it stands adjourned as a further mark of respect to the memory of Representative Walorski.
Buy Green Act of 2021 This bill provides for federal procurement of clean energy products. Specifically, the bill establishes a Clean Energy Fund at the Department of Energy (DOE) and authorizes DOE to transfer amounts from the fund to federal agencies for clean energy-related purchases. The bill creates a grant program for state, local, and tribal governments to make such purchases. The bill (1) provides grants to electrify the federal vehicle fleet, to states and municipalities to electrify public transit and school buses, and to design, build, and retrofit buildings to be more energy efficient; and (2) establishes a grant program for U.S. companies to invest in clean energy manufacturing by retrofitting or building facilities that produce clean energy products. The bill (1) establishes specified labor protections applicable to projects funded by grants in this bill and for manufacturers of specified products; and (2) directs 40% of state, local, and tribal grant funding for grants provided by this bill to purchases that benefit frontline, disadvantaged, and vulnerable communities that have been environmentally neglected. The bill establishes within DOE a Green Procurement Oversight Advisory Board. The Government Accountability Office shall conduct oversight of the use of funds and publicly report on program efficacy each year.
Better Utilizing Investments to Leverage Development and Generating Renewable Energy to Electrify the Nation's Infrastructure and Jobs Act or the BUILD GREEN Infrastructure and Jobs Act This bill directs the Department of Transportation (DOT) to establish a green transportation infrastructure program to provide competitive grants to states, local governments, and other entities for capital investments in electrified surface transportation infrastructure projects. DOT must select projects that maximize sustainability, including projects that (1) promote the electrification of all public transportation, (2) contribute to climate resilience and mitigation, (3) reduce air pollution and greenhouse gas emissions, and (4) achieve energy savings and reduce energy usage compared to other eligible projects. Additionally, DOT must prioritize projects that (1) serve a frontline, vulnerable, or disadvantaged community; (2) are located in an area that has experienced high adverse health and environmental impacts on minority and low-income populations; (3) require federal funds in order to complete an overall financing package; or (4) add a new green space or new state or local park units and outdoor recreational areas. Grants issued under the program may not be less than $2 million, with the exception of grants for project planning, preparation, or design, which are not subject to a minimum amount. The federal share of the cost of a project may not exceed 85% for planning, design, and construction purposes and 50% of the operation and maintenance costs of the project for its first 10 years.
Reproductive Health Care Accessibility Act This bill establishes various grants and related programs that address sexual and reproductive health care for individuals with disabilities. Specifically, the Health Resources and Services Administration must support training for health care providers who offer sexual and reproductive health care to individuals with disabilities, and educating individuals with disabilities about sexual and reproductive health care. The Administration for Community Living must establish a national center to provide recommendations, technical assistance, and other resources related to the provision of sexual and reproductive health care for individuals with disabilities. The bill also authorizes support for medical schools, nursing schools, and other educational institutions that offer obstetrics and gynecology training programs to expand the number of individuals with disabilities entering the reproductive health care workforce. Additionally, the Department of Health and Human Services must study the effectiveness and other aspects of reproductive health care services and programs for individuals with disabilities.
Let Doctors Provide Reproductive Health Care Act This bill sets out protections for and establishes programs to support health care providers (and those who assist such providers) who offer reproductive health care services that are lawful in the state where the services are provided. Reproductive health care services refer to abortion services; contraceptive services; in vitro fertilization; or other reproductive care, education, and counseling that is provided (1) at a health care site or via telehealth, and (2) in a medically accurate manner. The bill prohibits individuals, entities, and states from preventing, restricting, or otherwise interfering with the provision of lawful reproductive health care services by health care providers. The Department of Justice, individuals, or providers may bring a lawsuit to enforce this bill, and states are not immune from suits for violations. Furthermore, states may not use federal funds to pursue legal cases or similar proceedings (e.g., adverse licensing proceedings) against health care providers, individuals, or entities that offer or assist with lawful reproductive health care services. Additionally, medical malpractice insurers may not deny coverage to or sue a health care provider because the provider offers or assists with lawful reproductive health care services. The bill also funds grants to assist health care providers who offer or refer for abortion services and face legal issues relating to their provision of reproductive health care services with legal matters and improving security.
Equal Access to Contraception for Veterans Act This bill prohibits the Department of Veterans Affairs from requiring payment from a veteran for any contraceptive item that is required to be covered by health insurance plans without a cost-sharing requirement.
Protecting National Access to Reproductive Care Act of 2022 This bill prohibits state or local governments from implementing or enforcing any restriction on the use of or access to any reproductive health product. The bill defines reproductive health product as any approved drug or device that is used to diagnose, prevent, manage, treat, or terminate a pregnancy or to prevent or manage conditions of the reproductive system. The bill allows the Department of Justice to bring a civil action and establishes a private right of action for violations.
Net Neutrality and Broadband Justice Act of 2022 This bill expressly classifies broadband internet as a telecommunications service rather than an information service for purposes of regulation by the Federal Communications Commission. (Current law treats providers of telecommunications services as common carriers and subjects them to more stringent requirements.)