Municipal Finance Support Act of 2017

Bill: 115-hr-1624
Sponsor: Rep. Messer, Luke [R-IN-6]
Introduced: 2017-03-20 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Banking and financial institutions regulation
Department of the Treasury
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve System
Securities
State and local finance

Summary:
action_date: 2017-03-20
text: 

Municipal Finance Support Act of 2017

 
This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as level 2A liquid assets if they are investment grade, liquid, and readily marketable. Under current law, only certain securities issued or guaranteed by a U.S. government-sponsored enterprise, a sovereign entity, or a multilateral development bank may be treated as level 2A liquid assets (which are considered to be high-quality assets).

action_date: 2017-09-12
text: 

Municipal Finance Support Act of 2017

 
(Sec. 2) This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as high-quality liquid assets if they are investment grade, liquid, and readily marketable. Under current law, high-quality assets include level 1, level 2A, and level 2B liquid assets. 

action_date: 2017-10-03
text: 

Municipal Finance Support Act of 2017

 
(Sec. 2) This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as high-quality liquid assets if they are investment grade, liquid, and readily marketable. Under current law, high-quality assets include level 1, level 2A, and level 2B liquid assets. 


Legislative actions:
action_date: 2017-10-04
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2017-10-03
text: The title of the measure was amended. Agreed to without objection.
action_date: 2017-10-03
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2017-10-03
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7704-7705)
action_date: 2017-10-03
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7704-7705)
action_date: 2017-10-03
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1624.
action_date: 2017-10-03
text: Considered under suspension of the rules. (consideration: CR H7704-7706)
action_date: 2017-10-03
text: Mr. Huizenga moved to suspend the rules and pass the bill, as amended.
action_date: 2017-09-12
text: Placed on the Union Calendar, Calendar No. 219.
action_date: 2017-09-12
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-306.
action_date: 2017-09-12
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-306.
action_date: 2017-07-25
text: Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
action_date: 2017-07-25
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-03-20
text: Referred to the House Committee on Financial Services.
action_date: 2017-03-20
text: Introduced in House
action_date: 2017-03-20
text: Introduced in House