Access to Emergency Credit Facilities Act of 2020
Latest action · Sep 16, 2020 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.
- IntroducedSep 16, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Access to Emergency Credit Facilities Act of 2020
This bill provides for the treatment under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs of nationally recognized statistical rating organizations, retroactive to March 15, 2020. Specifically, the bill prohibits the requirement of a credit rating from a specific organization to qualify for these aid programs. Furthermore, a credit rating from an organization approved by the Securities and Exchange Commission must be accepted to qualify for these aid programs.
Additionally, the Government Accountability Office must report on the quality of credit ratings issued by these organizations, their effect on access to capital markets, and the implementation of this bill.
Cosponsors 1
Members who signed on, in the order they did. All signed on Sep 16, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| I-AZ | Kyrsten Sinema | Original | Sep 16, 2020 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Sep 16, 2020 |
Actions 2
Everything that happened, newest first.
- Sep 16, 2020Introduced in Senate
- Sep 16, 2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the CARES Act to require the uniform treatment of nationally recognized statistical rating organizations under certain programs carried out in response to the COVID-19 emergency, and for other purposes.
- Short Title(s) as Introduced
- Access to Emergency Credit Facilities Act of 2020
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Cardiovascular and respiratory health
- Congressional oversight
- Credit and credit markets
- Emergency medical services and trauma care
- Finance and Financial Sector
- Financial services and investments
- Government information and archives
- Government studies and investigations
- Infectious and parasitic diseases
- Securities
- Small business
Text 1
Each version as it was printed, newest first.
- Sep 16, 2020Introduced in Senate
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.
