Preserving Equity on Main Street Act of 2020
Latest action · Sep 23, 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 23, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Preserving Equity on Main Street Act of 2020
This bill authorizes the Department of the Treasury to directly purchase, or provide guarantees to enable the purchase of, preferred equity positions in commercial real estate companies that require capital to satisfy outstanding debt obligations. Treasury may take these actions in order to provide assistance related to losses incurred as a result of COVID-19 (i.e., coronavirus disease 2019).
Cosponsors 4
Members who signed on, in the order they did. All signed on Sep 23, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NH | Jeanne Shaheen | Original | Sep 23, 2020 |
| R-SD | Mike Rounds | Original | Sep 23, 2020 |
| R-MO | Roy Blunt | Original | Sep 23, 2020 |
| R-NC | Thom Tillis | Original | Sep 23, 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 23, 2020 |
Actions 2
Everything that happened, newest first.
- Sep 23, 2020Introduced in Senate
- Sep 23, 2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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.
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 |
|---|---|---|---|
| R46572 | COVID-19 and the Future of Commercial Real Estate Finance Archived | Report | Oct 19, 2020 |
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 permit the Secretary of the Treasury to purchase, or to enable the purchase of, preferred equity positions in commercial real estate entities, and for other purposes.
- Short Title(s) as Introduced
- Preserving Equity on Main Street Act of 2020
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 1
Each version as it was printed, newest first.
- Sep 23, 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.
