Rep. Eric Sorensen

Maddy summaryThis bill prevents federal regulators from requiring banks, credit unions, and trust companies to treat custody assets (like digital assets held for clients) as liabilities on their financial statements or to hold extra capital against them. It specifically stops institutions from recognizing liabilities for digital asset services they don’t own, unless those liabilities exceed related expenses. The law applies broadly to depository institutions but includes an exception: commingled cash held for third parties must still be listed as a liability. Key provisions aim to clarify accounting rules for digital assets, reducing regulatory complexity for financial institutions managing client custody. It directly affects banks, credit unions, and trust companies handling digital assets or custody services.

Maddy summaryHR 5722 requires the U.S. Army Corps of Engineers to update flood protection design standards for Upper Mississippi River levees and floodwalls every 20 years using the latest flood risk data, safety factors, and FEMA guidelines. It mandates public input during each update stage, including for base elevation and hydrological assumptions. The bill allows local sponsors (like cities or counties managing levees) to maintain existing flood protection levels without changing risk transfer to the federal government, and specifies that repairs must align with updated standards. This applies to federally authorized projects between Hamburg, Illinois, and Guttenberg, Iowa, covering rural, urban, and industrial areas protected to specific flood risk levels (2%, 1%, or 0.2% probability).

Maddy summaryThis bill creates automatic continuing appropriations to prevent government shutdowns. If Congress fails to pass annual spending bills by October 1st, federal programs automatically continue at the previous fiscal year's funding level for up to 14 days, with extensions possible every 14 days until a full spending bill is enacted. During these automatic funding periods, congressional staff and federal employees face strict limits on official travel (except for returning to Washington, D.C., or responding to national security events), and campaign funds cannot cover travel for federal office duties. The bill directly affects all federal agencies, programs, and congressional staff during funding gaps, aiming to maintain government operations without congressional action.

Maddy summaryHR 5728, the Government Shutdown Impact Report Act of 2023, requires the Congressional Budget Office (CBO) to issue daily reports during government shutdowns. The CBO must submit reports within 24 hours of each shutdown day, detailing specific economic impacts like lost GDP, unprovided Small Business Administration assistance, lost park revenue, and tourism revenue declines. These reports will provide Congress with real-time data on the costs of shutdowns to taxpayers and the economy. The bill directly affects how Congress receives information about shutdown consequences, mandating standardized, frequent reporting on economic and service disruptions.

Maddy summaryThis bill denies pension payments to current or former congressional members convicted of certain crimes. Specifically, it removes eligibility for retirement benefits based on their service as a Member of Congress if convicted of a qualifying offense after the bill's enactment. If a conviction is later overturned, the individual would receive retroactive pension payments. The law only applies to pensions tied to congressional service, not other government employment, and excludes convictions occurring before the bill's effective date.

Maddy summaryThis bill requires federal agencies to mandate that auto manufacturers bidding on vehicle assembly contracts disclose detailed workforce information for each plant involved. Specifically, contractors must provide average and range of hourly wages, temporary worker counts, and any OSHA or National Labor Relations Act violations at each manufacturing location. It also requires written agency permission - and additional disclosures - if a contractor seeks to shift production to a new plant, with notification to affected labor unions. The law directly affects auto manufacturers competing for federal vehicle assembly contracts and aims to increase transparency around labor practices.

Maddy summaryThis bill extends the funding period for the Distance Learning and Telemedicine Program from 2023 to 2028. It directly affects rural communities by ensuring continued access to telehealth services and educational programs through this existing federal initiative. The key provision is a simple amendment to the program's authorization date in existing law, without creating new requirements or altering the program's scope. The change ensures uninterrupted support for rural healthcare and education providers relying on this funding.

Maddy summaryThis bill establishes a standardized methodology for measuring soil carbon in agricultural settings, to be developed within 270 days of enactment. It creates a program for the Department of Agriculture to inventory and analyze soil carbon changes across U.S. agricultural lands every five years, with a focus on monitoring the impacts of land management practices. The legislation requires the development of user-friendly predictive models that help farmers estimate how different conservation activities affect soil carbon sequestration and greenhouse gas emissions. It includes provisions for voluntary reporting by agricultural producers, technical assistance for socially disadvantaged farmers, and strict data privacy protections. The bill authorizes $2 million annually for the measurement methodology and $17.5 million for the soil carbon inventory program.

Maddy summaryThis bill amends the Higher Education Act to require all U.S. colleges and universities receiving federal financial aid to create detailed anti-harassment policies covering physical, online, and institution-sponsored settings. It mandates policies prohibiting harassment based on race, sex (including sexual orientation and gender identity), disability, religion, and other protected characteristics, including harassment via institutional email, computers, or electronic messaging. The bill also establishes a $50 million annual grant program to fund colleges developing prevention programs, victim support services, and training for students and staff on recognizing and addressing harassment. These policies and grants must comply with existing civil rights laws like Title IX but add specific requirements for reporting and prevention.

Maddy summaryHR 5566, the *Supreme Court Tenure Establishment and Retirement Modernization Act of 2023*, establishes an 18-year term limit for all Supreme Court justices. It requires the President to nominate one new justice every two years (during first and third years after presidential elections), with Senate confirmation within 90 days, and prohibits lifetime appointments. Current justices are automatically retired in order of service length as new justices are appointed, while retired justices may temporarily fill vacancies through a randomized process. The bill directly affects all sitting and future Supreme Court justices by restructuring appointments and retirement timelines.