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.
This resolution commemorates the 55th anniversary of the fire onboard the USS Forrestal , recognizes the sailors and marines who gave their lives while fighting the fire, and commemorates the efforts of the sailors and marines who survived the fire.
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.
This resolution designates September 25, 2022, as National Lobster Day and encourages the people of the United States to observe the day with appropriate ceremonies and activities.
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.
This resolution honors and commends the women who served in critical military positions in the Women's Auxiliary Army Corp and the Women's Army Corp to aid the war effort during World War II.
Preventing a Patronage System Act of 2022 or the PPSA Act of 2022 This bill prohibits executive agency positions in the competitive service from being placed in the excepted service, unless such positions are placed in Schedules A through E as in effect on September 30, 2020. The bill also prohibits positions in the excepted service from being placed in any schedule other than the aforementioned schedules. On October 21, 2020, former President Donald Trump issued an executive order titled Creating Schedule F in the Excepted Service . The order placed executive agency positions that are of a confidential, policy-determining, policy-making, or policy-advocating character, and that are not normally subject to change as a result of a presidential transition, under a new schedule in the excepted service (Schedule F) instead of the competitive service. The order also required any such positions in the excepted service to be reclassified to Schedule F. The order was revoked by President Joe Biden on January 22, 2021.