To prohibit the Secretary of the Treasury and the Board of Governors of the Federal Reserve System from waiving provisions related to COVID-19 emergency relief and taxpayer protections related to such relief.

Summary

Official

This bill prohibits the Department of the Treasury and the Federal Reserve Board from waiving requirements related to COVID-19 (i.e., coronavirus disease 2019) economic aid. Businesses receiving this aid must comply with compensation limits, bans on stock buybacks, and prohibitions on payment of stock dividends, among other requirements.

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Bill Progress

Bill has been introduced and assigned a number

Introduced(5/13/20)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Ms. Ocasio-Cortez

House (D) New York – 14

Cosponsors (3)

MALONEY

(D) NY

Pressley

House (D) Massachusetts

Tlaib

House (D) Michigan

Topics

Health

Government Spending & Operations

Business & Finance

Latest Action

Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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.

May 13, 2020