Rep. William R. Timmons IV

Unfair or Deceptive Acts or Practices Uniformity Act This bill eliminates the authority of the Consumer Financial Protection Bureau to take action against a person or service provider for an abusive act or practice in connection with a consumer financial product or service. Additionally, the bureau is prohibited from taking action against an unfair or deceptive act unless the bureau first consults with the primary financial regulatory agency of the person or service provider. Finally, any rulemaking made by the bureau regarding an unfair or deceptive act must comply with certain Federal Trade Commission rulemaking requirements.

Promoting Secure 5G Act of 2021 This bill requires the Department of the Treasury to instruct the U.S. Executive Director at each international financial institution (e.g., the International Monetary Fund or the International Finance Corporation) that it is U.S. policy to support institutional assistance with advanced wireless technologies only if they provide appropriate security for users, encourage assistance with infrastructure or policy reforms that facilitate the use of secure advanced wireless technologies, and cooperate with institutional member states to strengthen international support for such technologies.

Rural Forest Markets Act of 202 1 This bill directs the Department of Agriculture (USDA) to establish the Rural Forest Market Investment Program to guarantee investments to finance certain projects that will enable rural private forest landowners to participate in an innovative market for forest carbon or other products. In establishing the program, USDA must consider ways to ensure that the program minimizes disruptions to traditional forest products markets. Eligible projects are projects developed by a private entity or a publicly supported, charitable nonprofit organization engaged in the aggregation of sustainable forestry practices implemented by rural private forest landowners to facilitate the sale of credits in the voluntary carbon market or other environmental market using a methodology approved by a credible, third-party entity. USDA may guarantee up to $150 million with respect to each investment. Authority to carry out the program terminates on September 30, 2023.

Protecting Seniors Through Immunization Act of 2021 This bill specifies that certain deductible, coinsurance, initial coverage limit, and cost-sharing requirements that apply under the Medicare prescription drug benefit shall not apply with respect to vaccines that are recommended by the Advisory Committee on Immunization Practices of the Centers for Disease Control and Prevention. The Centers for Medicare & Medicaid Services must provide to Medicare beneficiaries specified information regarding (1) coverage of vaccines for seniors, and (2) access to recommended vaccines without cost-sharing.

This resolution recognizes and expresses support for the efforts of democracy and human rights activists in Cuba.

Upward Mobility Enhancement Act This bill increases the amount of the tax exclusion for employer-paid educational assistance programs. It also expands the exclusion to include amounts paid for education-related tools and technology (e.g., hand tools, computers, software, licensure fees).

Improving Capital Allocation for Newcomers Act of 2021 This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 600 persons and $150 million, respectively.

Disaster Reforestation Act This bill sets forth a special rule for the tax deduction for casualty losses of uncut timber (including pre-merchantable timber). It provides that in losses of any uncut timber from fire, storm, insects, invasive species, drought, or other casualty, or from theft, the basis for determining the amount of the deduction for such loss shall not be less than the excess of the value of such timber determined immediately before such loss was sustained, over the salvage value of such timber. To be eligible for the casualty loss deduction, the uncut timber subject to the loss must be reforested not later than the close of the five-year period beginning on the date of the loss.

Unclaimed Savings Bond Act of 2021 This bill establishes requirements and procedures for the Department of the Treasury to transfer ownership of certain matured, unredeemed savings bonds and related records to states.

Defending Domestic Produce Protection Act This bill establishes a process by which a core seasonal industry may petition for countervailing and antidumping duties. A core seasonal industry means the producers (1) of a domestic like product that is a raw agricultural product, (2) whose collective output constitutes a majority of the total production in any state or group of states that accounts for a major portion of the total production during a discrete season or cyclical period of time, and (3) that make substantially all of their sales during that season or time period. The bill also provides that this process shall apply with respect to goods from Canada and Mexico.