HR 3785 · 117th Congress · Economics and Public Finance

Fair-Value Accounting and Budget Act

Introduced 2021-06-08· Sponsored by Rep. Norman, Ralph [R-SC-5]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2021-06-08)

Plain Language Summary

[AI summary unavailable — showing source text] Fair-Value Accounting and Budget Act This bill requires the Congressional Budget Office to provide certain fair-value estimates of federal loan and loan guarantee programs. Under the bill, the fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair-value estimates generally use private-market interest rates to estimate the cost of a loan program rather than rates based on Treasury securities.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Case, Ed [D-HI-1]HI