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HR 5571 118th Congress House Economics and Public Finance Congressional oversight Government lending and loan guarantees

Fair-Value Accounting and Budget Act

Introduced: September 19, 2023 Introduced by: Norman, Ralph Republican · South Carolina See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Sep 19, 2023
Introduced in House
Sep 19, 2023
Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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 Plain-English summary Congressional Research Service

Fair-Value Accounting and Budget Act

This bill requires the Congressional Budget Office (CBO) to provide certain fair-value estimates of federal loan and loan guarantee programs. Under the bill, the fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair-value estimates generally use private-market interest rates to estimate the cost of a loan program rather than rates based on Treasury securities.

The bill requires CBO to include fair-value estimates in (1) any estimate prepared for a measure that establishes or modifies a loan or loan guarantee program, and (2) its publication titled The Budget and Economic Outlook. If CBO provides a fair-value estimate pursuant to this bill, the chairs of the congressional budget committees must use the estimate to determine compliance with budget enforcement requirements.  

The bill also requires the Office of Management and Budget to submit an annual report to Congress on fair-value estimates of the costs of federal credit programs.  

What's happening now September 19, 2023

Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Lobbying activity 1

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

 Cosponsors 1
All 1 Republican 1
R
Grothman, Glenn
Wisconsin · Sep 19, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5571: Fair-Value Accounting and Budget Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-5571/
MLA
"H.R. 5571: Fair-Value Accounting and Budget Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-5571/.
Bluebook (legal)
H.R. 5571, 118th Cong. (2026), https://openamerica.io/bill/118-HR-5571/.
Markdown link
[H.R. 5571: Fair-Value Accounting and Budget Act](https://openamerica.io/bill/118-HR-5571/)
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