Clarifying Commercial Real Estate Loans
Latest action · Nov 8, 2017 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 26, 2017
- Passed HouseNov 7, 2017
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Clarifying Commercial Real Estate Loans
(Sec. 2) This bill amends the Federal Deposit Insurance Act to specify that a federal banking agency may not subject a depository institution to higher capital standards with respect to a high-volatility commercial real-estate (HVCRE) exposure unless the exposure is an HVCRE acquisition, development, or construction (ADC) loan.
An HVCRE ADC loan is a one that: (1) is secured by land or improved real property; (2) has the purpose of providing financing to acquire, develop, or improve the real property such that the property becomes income-producing; and (3) is dependent upon future income or sales proceeds from, or refinancing of, the real property for the repayment of the loan.
An HVCRE ADC loan does not include financing for a one- to four-family residential property, agricultural land, real property that would qualify as an investment in community development, existing income-producing real property secured by a mortgage, or certain commercial real-property projects. Furthermore, such a loan does not include any loan made prior to January 1, 2015.
A depository institution may reclassify a loan as a non-HVCRE ADC loan if the depository institution is satisfied that: (1) the acquisition, development, or improvement of real property being financed by the loan is complete; and (2) the cash flow being generated by the real property is sufficient to support the debt service and expenses of the real property.
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Apr 26, 2017 to Oct 16, 2017; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-GA | David Scott | Original | Apr 26, 2017 |
| R-NC | Mark Walker | May 16, 2017 | |
| R-MO | Ann Wagner | Jun 6, 2017 | |
| R-FL | Dennis A. Ross | Jun 6, 2017 | |
| R-KY | Andy Barr | Jun 8, 2017 | |
| R-CO | Scott R. Tipton | Jun 13, 2017 | |
| R-OH | Steve Stivers | Jun 16, 2017 | |
| D-NJ | Josh Gottheimer | Aug 25, 2017 | |
| R-PA | Brian K. Fitzpatrick | Sep 6, 2017 | |
| R-CO | Mike Coffman | Sep 7, 2017 | |
| R-IN | Luke Messer | Sep 26, 2017 | |
| R-NC | Ted Budd | Sep 26, 2017 | |
| R-MO | Blaine Luetkemeyer | Oct 2, 2017 | |
| R-GA | Barry Loudermilk | Oct 3, 2017 | |
| R-MN | Tom Emmer | Oct 12, 2017 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Apr 26, 2017Markup Oct 12, 2017Reported Nov 7, 2017 |
| Consumer Protection and Financial Institutions Subcommittee | Hearings Jul 12, 2017 | |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Nov 8, 2017 |
Actions 14
Everything that happened, newest first.
- Nov 8, 2017Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Nov 7, 2017Mr. Huizenga moved to suspend the rules and pass the bill, as amended.
- Nov 7, 2017Considered under suspension of the rules. (consideration: CR H8547-8550)
- Nov 7, 2017DEBATE - The House proceeded with forty minutes of debate on H.R. 2148.
- Nov 7, 2017Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8547-8548)
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Extensions | Debate and remarks E1556 | Henry C. "Hank" Johnson, Jr. D-GA | Nov 13, 2017 |
| House | Debate and remarks H8547–H8550Text printed H8547 | Bill Huizenga R-MI, Carolyn B. Maloney D-NY, Daniel T. Kildee D-MI, Keith J. Rothfus R-PA, Robert Pittenger R-NC | Nov 7, 2017 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Nov 7, 2017H.R. 2148, Clarifying Commercial Real Estate LoansAs ordered reported by the House Committee on Financial Services on October 12, 2017
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 71, April 26, 2017, page H2897.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 115-28 | EXAMINING LEGISLATIVE PROPOSALS TO PROVIDE TARGETED REGULATORY RELIEF TO COMMUNITY FINANCIAL INSTITUTIONS152 pages | Financial Services Committee | Jul 12, 2017 |
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R45073 | Economic Growth, Regulatory Relief, and Consumer Protection Act (P.L. 115-174) and Selected Policy Issues Archived | Report | Jun 6, 2018 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2155 | Economic Growth, Regulatory Relief, and Consumer Protection Act | Related bill | May 24, 2018 |
| S 2405 | Clarifying Commercial Real Estate Loans | Related bill | Oct 2, 2018 |
Titles 4
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Federal Deposit Insurance Act to clarify capital requirements for certain acquisition, development, or construction loans.
- Short Titles as Introduced
- Clarifying Commercial Real Estate Loans
- Short Titles as Reported to House
- Clarifying Commercial Real Estate Loans
- Short Titles as Passed House
- Clarifying Commercial Real Estate Loans
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 4
Each version as it was printed, newest first.
- Nov 8, 2017Referred in Senate
- Nov 7, 2017Engrossed in House
- Nov 6, 2017Reported in House
- Apr 26, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
