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HR 2148 115th Congress House Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Credit and credit markets Real estate business

Clarifying Commercial Real Estate Loans

Introduced: April 26, 2017 See on congress.gov
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 Everywhere this bill has been 15 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 8, 2017
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 7, 2017
Motion to reconsider laid on the table Agreed to without objection.
Nov 7, 2017
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8547-8548)
Nov 7, 2017
Passed/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)
Nov 7, 2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 2148.
Nov 7, 2017
Considered under suspension of the rules. (consideration: CR H8547-8550)
Nov 7, 2017
Mr. Huizenga moved to suspend the rules and pass the bill, as amended.
Nov 6, 2017
Placed on the Union Calendar, Calendar No. 288.
Nov 6, 2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-392.
Oct 12, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 59 - 1.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Jul 12, 2017
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Apr 26, 2017
Referred to the House Committee on Financial Services.
Apr 26, 2017
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now November 8, 2017

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 3
 Cosponsors 8
All 8 Democratic 1 Republican 7