Small Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act This bill exempts certain financial institutions and transactions from the Consumer Financial Protection Bureau (CFPB) reporting requirements with respect to data about small business credit applications. Under the bill, the requirements apply only to financial institutions that originate at least 500 credit transactions to small businesses in each of the preceding two years. The bill further defines small businesses as those with annual revenue of $1 million or less. Currently, the CFPB has proposed a rule that the requirements apply only to financial institutions that originate at least 25 annual credit transactions to small businesses in each of the preceding two years. The rule further defines small businesses as those with annual revenue of $5 million or less.
Increasing Investor Opportunities Act This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase their investments in private investment funds.
Restoring Shareholder Transparency Act of 2022 This bill limits corporate shareholder proposals and revises proxy voting protocols for shareholders. Current shareholder proposal rules address who is eligible to submit shareholder proposals for a vote and the dissemination of information to voters through a proxy statement. Under the bill, a company is not required to comply with these shareholder proposal rules. Instead, a company may opt-in to these rules. The bill also revises these rules to require a shareholder hold at least 1% of the market value of the company's securities in order to submit a shareholder proposal. Under current rules, a shareholder's ability to submit a proposal depends upon the dollar amount of shares held and the length of time the shares have been held. It also revises these rules to provide that a company's allowed bases for exclusion of a proposal apply without regard to whether the proposal relates to a significant social policy issue. Under current guidance, a shareholder proposal may overcome a company's exclusion if the proposal is of social policy significance. Finally, the bill generally prohibits proxy voting advice furnished by a person who provides such advice for a fee.
Bipartisan Ban on Congressional Stock Ownership Act of 2022 This bill prohibits Members of Congress and their spouses from owning or trading stocks, bonds, commodities, futures, or any other form of security. Each current Member must divest within 180 days after the bill is enacted and each new Member must divest within 180 days after becoming a Member. However, Members and their spouses have 5 years to divest from specified complex investment vehicles. The bill does not apply to certain investments, such as investments in widely held investment funds that are diversified and do not present a conflict of interest and investments held in government employee retirement plans. A Member or spouse who violates the bill may be subject to a fine of up to $50,000 for each violation. The bill permits a Member or spouse who is required to divest property under the bill to avoid recognizing gain for income tax purposes from the sale of that property to the extent that the Member or spouse purchases permitted bonds or diversified investment funds within 60 days of the divestiture.
Supply Chain Disruptions Relief Act This bill modifies the treatment of liquidations of new motor vehicle inventory as qualified LIFO (last in first out accounting method) inventory. It allows new motor vehicle dealers to elect to wait until the end of 2025 to replace their inventory for purposes of determining income attributable to the sale of such inventory during 2020 and 2021.
Stillbirth Health Improvement and Education for Autumn Act of 2022 or the SHINE for Autumn Act of 2022 This bill authorizes grants and establishes other programs to improve data collection on stillbirths. Specifically, the Department of Health and Human Services (HHS) may award grants for surveillance and data collection on stillbirths, and HHS must issue guidelines for health departments and vital statistics units concerning the collection of stillbirth data. HHS must also develop educational awareness materials about stillbirths and make them publicly available. Furthermore, HHS must implement a fellowship program to provide training in perinatal autopsy pathology and otherwise support research on stillbirths and fetal autopsies. The bill also requires HHS to issue a report with educational guidelines on stillbirths and stillbirth risk factors.
Support Kids Not Red Tape Act of 2022 This bill extends and modifies the authority of the Department of Agriculture (USDA) to waive certain requirements related to the National School Lunch Program, the School Breakfast Program, the Child and Adult Care Food Program, and the Summer Food Service Program. Current law authorizes USDA to waive certain requirements, such as those related to nutritional content and congregate feeding, for the purpose of dealing with the COVID-19 pandemic. Under this bill, USDA shall have authority through FY2023 to grant such a waiver, with no waiver having effect past FY2023. Currently, USDA's authority to grant a waiver expires on June 30, 2022, with no waiver having effect past the 2021-2022 school year. If a state elects to receive a waiver that modifies the operation of a school breakfast or lunch program for the 2022-2023 school year, the state must provide a transition plan to USDA. USDA must provide technical assistance to help school food authorities and states meet nutritional standards and resume regular meal program operations for the 2023-2024 school year. While a waiver is in effect during the 2022-2023 school year, the state subject to the waiver must provide technical assistance in lieu of fiscal action for meal pattern violations due to supply chain disruptions. The bill also appropriates funds as necessary to carry out this bill's activities.
Gas Prices Relief Act of 2022 This bill prohibits federal agencies from finalizing any regulations that would cause (1) a decrease in domestic oil, gas, or biofuels production; (2) an increase in gasoline prices; or (3) any negative effects on domestic energy production, domestic electricity generation, transmission of fuel or electricity, infrastructure development, or transportation fuels. The prohibition may not end until the earlier of January 1, 2023, or until the average gasoline price is $2.60 per gallon or less.
Reversing Every Vaccine Emergency Requirement and Stopping Employee OSHA Mandates Act or the REVERSE OSHA Mandates Act This bill limits the authority of the Occupational Safety and Health Administration (OSHA) to regulate workplace safety and health matters. Specifically, the bill repeals OSHA's authority to issue emergency temporary standards related to workplace safety and health. The bill further specifies that OSHA may not, under its authority to regulate workplace safety and health, require the administration of any drug, vaccine, or other biological product to an employee.
HRES 1016 is a House resolution honoring swimmer Emma Weyant as the rightful winner of the 2022 NCAA Division I Women’s 500-Yard Freestyle after her medal was stolen. It recognizes her Olympic silver medal, contributions to the University of Virginia’s 2022 NCAA championship, and role as a student-athlete role model. The resolution has no legal effect but formally acknowledges her achievement and the medal theft incident. It directly affects Weyant by providing symbolic recognition of her athletic accomplishment.
This resolution supports the preservation of the stepped-up basis tax rule that allows recipients of inherited assets such as land, equipment, or buildings to adjust the cost basis of the assets to reflect their fair market value. The resolution opposes any efforts to impose new taxes on family farms or small businesses and recognizes the importance of generational transfers of farm and family-owned businesses.
China Trade Cheating Restitution Act of 2022 This bill requires the Department of Homeland Security to deposit into special accounts certain interest earned on antidumping and countervailing duties collected by U.S. Customs and Border Protection on or after October 1, 2000. Currently, the applicable date is October 1, 2014. Amounts in special accounts are distributed to affected domestic producers.
