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S 4270 116th Congress Senate Finance and Financial Sector Accounting and auditing Bank accounts, deposits, capital Banking and financial institutions regulation Cardiovascular and respiratory health Credit and credit markets Emergency medical services and trauma care Infectious and parasitic diseases

A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year.

Introduced: July 22, 2020 Introduced by: Tillis, Thomas Republican · North Carolina See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 22, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 22, 2020
Introduced in Senate
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 Plain-English summary Congressional Research Service

This bill modifies the delay for required compliance with certain accounting standards applicable to credit losses (i.e., current expected credit losses standards, also known as CECL standards) as applied to insured depository institutions and bank holding companies. Specifically, required compliance with this standard is delayed through the first day of an institution's fiscal year beginning after the end of the emergency declaration regarding the COVID-19 (i.e., coronavirus disease 2019) outbreak. Currently, this delay ends the earlier of the date on which the emergency declaration terminates, or December 31, 2020.

What's happening now July 22, 2020

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

 Related & companion bills 1
  • HR 6551 Related bill CARES Act Section 4014 Technical Corrections Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 4270: A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year.. 116th Congress. Open America. https://openamerica.io/bill/116-S-4270/
MLA
"S. 4270: A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year.." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-4270/.
Bluebook (legal)
S. 4270, 116th Cong. (2026), https://openamerica.io/bill/116-S-4270/.
Markdown link
[S. 4270: A bill to amend the CARES Act to ensure that the temporary relief from CECL standards does not terminate in the middle of a company's fiscal year.](https://openamerica.io/bill/116-S-4270/)
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