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Official portrait of Sen. Tester, Jon [D-MT]

Sen. Tester, Jon [D-MT]

United States · Official source

Records

3,396 records where Sen. Tester, Jon [D-MT] is listed as a sponsor, author, or other actor. Search with topics and years

Bill· SS. 4505 (117th)open

Native American Direct Loan Improvement Act

United States · United States Congress · 12 July 2022

Native American Direct Loan Improvement Act This bill addresses housing and homeownership for Native American veterans. Specifically, the bill revises the Native American Direct Loan program administered by the Department of Veterans Affairs (VA) to (1) allow Native American veterans to refinance existing mortgage loans; and (2) award grants to local service providers for conducting outreach, homebuyer education, housing counseling, risk mitigation, and other technical assistance to assist Native American veterans seeking to qualify for mortgage financing. Additionally, the bill directs the VA to carry out a pilot program to address the feasibility and advisability of making direct housing loans to Native community development financial institutions for relending loan amounts to qualified veterans.

Bill· SS. 4504 (117th)referred

Freedom to Travel for Health Care Act of 2022

United States · United States Congress · 12 July 2022

Freedom to Travel for Health Care Act of 2022 This bill prohibits anyone from interfering with a person's ability to access out-of-state reproductive health care. (Reproductive health care is defined as medical, surgical, counseling, or referral services related to pregnancy, the termination of a pregnancy, contraception services, and other reproductive care.) Specifically, the bill prohibits anyone from restricting, discriminating against, or otherwise disadvantaging anyone who receives, provides, or assists with out-of-state reproductive health care that is legal in the state in which it is provided. The bill allows the Department of Justice to bring a civil action and establishes a private right of action for violations. The bill specifically waives any applicable governmental immunity and preempts any contravening state laws.

Law· SS. 4458 (117th)enacted

Ensuring the Best Schools for Veterans Act of 2022

United States · United States Congress · 23 June 2022

Ensuring the Best Schools for Veterans Act of 2022 This bill makes adjustments to the process by which the Department of Veterans Affairs (VA) evaluates programs of education for violations of the 85/15 Rule. The rule generally prohibits the VA from approving the enrollment of a veteran in any course at an educational institution where more than 85% of the students are having all or part of their tuition or other charges paid by the institution or the VA. The bill adds an exception for tuition or charges paid under a payment plan at an educational institution with a history of offering payment plans that are completed within 180 days after the end of the applicable term, quarter, or semester. The bill also requires the VA to establish a process by which an educational institution may request a review of a determination that the institution has more than 85% of enrolled students that have all or part of their tuition or other charges paid by the institution or the VA. The bill adjusts the existing 35% exemption by exempting courses from the 85/15 Rule if the majority of courses at the institution are approved by the state approving agency, and the total number of veterans, reservists, or eligible beneficiaries who are enrolled at the institution equals 35% or less of the total student enrollment at the institution. Additionally, the 85/15 Rule does not apply with respect to the enrollment of a veteran in a program of education with fewer than 10 students who are having all or part of their tuition or other charges paid to or for them by the educational institution or the VA.

Bill· SS. 4469 (117th)referred

SAD Act

United States · United States Congress · 23 June 2022

Stop Anti-Abortion Disinformation Act or the SAD Act This bill prohibits advertisements that use deceptive or misleading statements related to the provision of abortion services. Abortion services include (1) surgical and non-surgical procedures to terminate a pregnancy, or (2) providing referrals for such procedures. The Federal Trade Commission must promulgate rules to implement the prohibition, and the bill provides for enforcement by the commission.

Resolution· SRESS.Res. 691 (117th)referred

A resolution affirming, commemorating, and celebrating the 50th anniversary of the enactment of title IX, applauding the increase in educational opportunities available to all individuals, regardless of sex or gender, and recognizing the tremendous amount of work left to be done to further increase those opportunities.

United States · United States Congress · 23 June 2022

This resolution (1) recognizes the increase in educational opportunities, including in sports, for women and girls since the passage of title IX of the Education Amendments of 1972; and (2) encourages the Department of Education and the Department of Justice to ensure that students have a safe learning environment by working to ensure schools prevent and respond to discrimination and harassment on the basis of sex.

Resolution· SRESS.Res. 690 (117th)passed

A resolution designating July 8, 2022, as "Collector Car Appreciation Day" and recognizing that the collection and restoration of historic and classic cars is an important part of preserving the technological achievements and cultural heritage of the United States.

United States · United States Congress · 22 June 2022

This resolution (1) supports the designation of July 8, 2022, as Collector Car Appreciation Day, (2) recognizes the collection and restoration of historic and classic cars as an important part of preserving the technological achievements and cultural heritage of the United States, and (3) encourages engagement in Collector Car Appreciation Day events.

Law· SS. 4359 (117th)enacted

Senator Johnny Isakson VA Regional Office Act of 2022

United States · United States Congress · 8 June 2022

Senator Johnny Isakson VA Regional Office Act of 2022 This bill designates the Department of Veterans Affairs Atlanta Regional Office in Georgia as the Senator Johnny Isakson Department of Veterans Affairs Atlanta Regional Office or the Isakson VA Atlanta Regional Office.

Resolution· SRESS.Res. 652 (117th)referred

A resolution recognizing June 2022 as "LGBTQ Pride Month".

United States · United States Congress · 26 May 2022

This resolution expresses support for the rights, freedoms, and equal treatment of lesbian, gay, bisexual, transgender, and queer (LGBTQ) individuals. The resolution r ecognizes that LGBTQ rights are human rights and protected by the laws of the United States and international treaties. Additionally, the resolution encourages the celebration of LGBTQ Pride Month in June.

Bill· SS. 4325 (117th)referred

Credit Union Board Modernization Act

United States · United States Congress · 26 May 2022

Credit Union Board Modernization Act This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.

Bill· SS. 4293 (117th)open

Pharmacy Benefit Manager Transparency Act of 2022

United States · United States Congress · 24 May 2022

Pharmacy Benefit Manager Transparency Act of 2022 This bill generally prohibits pharmacy benefit managers (PBMs) from engaging in certain practices when managing the prescription drug benefits under a health insurance plan, including charging the plan a different amount than the PBM reimburses the pharmacy. The bill also prohibits PBMs from arbitrarily, unfairly, or deceptively (1) clawing back reimbursement payments, or (2) increasing fees or lowering reimbursements to pharmacies to offset changes to federally funded health plans. PBMs are not subject to these prohibitions if they (1) pass along 100% of any price concession or discount to the health plan, and (2) disclose specified costs, prices, reimbursements, fees, markups, discounts, and aggregate payments received with respect to their PBM services. Further, PBMs must report annually to the Federal Trade Commission (FTC) certain information about payments received from health plans and fees charged to pharmacies. The FTC and state attorneys general are authorized to enforce the provisions of the bill.

Bill· SS. 4257 (117th)referred

Access to Baby Formula Act of 2022

United States · United States Congress · 18 May 2022

Access to Baby Formula Act of 2022 This bill authorizes the Department of Agriculture (USDA) to take certain actions to address emergencies, disasters, and supply chain disruptions (particularly the shortage of infant formula in the United States) affecting participants of the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC). For example, the bill directs USDA to require each infant formula cost containment contract to include remedies in the event of an infant formula recall, including how an infant formula manufacturer would protect against disruption to WIC participants in the state.

Bill· SS. 4245 (117th)referred

Food and Agribusiness Merger Moratorium and Antitrust Review Act of 2022

United States · United States Congress · 18 May 2022

Food and Agribusiness Merger Moratorium and Antitrust Review Act of 20 22 This bill places a moratorium on certain acquisitions between large agricultural and retail-related businesses and establishes the Food and Agriculture Concentration and Market Power Review Commission. The commission shall report to Congress and the President on (1) the nature and consequences of market concentration in the U.S. food and agricultural economy, and (2) recommended legal and regulatory changes to address such market concentration.

Bill· SS. 4223 (117th)open

Veterans’ Compensation Cost-of-Living Adjustment Act of 2022

United States · United States Congress · 16 May 2022

Veterans' Compensation Cost-of-Living Adjustment Act of 2022 This bill requires the Department of Veterans Affairs (VA) to increase the amounts payable for wartime disability compensation, additional compensation for dependents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children. Specifically, the VA must increase the amounts by the same percentage as the cost-of-living increase in benefits for Social Security recipients that is effective on December 1, 2022. The bill requires the VA to publish the amounts payable, as increased, in the Federal Register. The VA is authorized to make a similar adjustment to the rates of disability compensation payable to persons who have not received compensation for service-connected disability or death.

Bill· SS. 4196 (117th)referred

Ysleta del Sur Pueblo and Alabama-Coushatta Tribes of Texas Equal and Fair Opportunity Act

United States · United States Congress · 12 May 2022

Ysleta del Sur Pueblo and Alabama-Coushatta Tribes of Texas Equal and Fair Opportunity Act This bill allows the Ysleta del Sur Pueblo and Alabama-Coushatta tribes to conduct gaming activities on their land in Texas if certain conditions are met. Currently, the Ysleta del Sur Pueblo and Alabama-Coushatta Indian Tribes of Texas Restoration Act prohibits the tribes from conducting gaming activities on their land if those activities are prohibited by Texas law. The bill instead prohibits the act from precluding or limiting the applicability of the Indian Gaming Regulatory Act (IGRA). Therefore, the bill effectively makes IGRA the controlling federal statute governing gaming activities on the tribes' land.

Bill· SS. 4203 (117th)referred

NAPA Reauthorization Act

United States · United States Congress · 12 May 2022

NAPA Reauthorization Act This bill extends through 2035 and makes other changes to the National Alzheimer's Project. This project supports coordination of federal planning, programs, and other efforts to address Alzheimer's disease and related dementias. In particular, the bill incorporates a focus on promoting healthy aging and reducing risk factors associated with cognitive decline. The bill also expands the membership of the Advisory Council on Alzheimer's Research, Care, and Services to include (1) a researcher with experience recruiting and retaining diverse clinical trial participants, (2) an individual diagnosed with Alzheimer's disease, and (3) representatives from additional federal agencies (e.g., the Department of Justice and the Office of Management and Budget).

Bill· SS. 4181 (117th)referred

LIFELINE Act

United States · United States Congress · 11 May 2022

LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.

Bill· SS. 4169 (117th)referred

Expanding Veterans’ Options for Long Term Care Act

United States · United States Congress · 10 May 2022

Expanding Veterans' Options for Long Term Care Act This bill requires the Department of Veterans Affairs (VA) to implement a three-year pilot program to assess the effectiveness of providing assisted living services to eligible veterans, including by assessing the satisfaction of veterans participating in the pilot program. Eligible veterans are those who (1) are eligible for assisted living services as determined by the VA; and (2) are already receiving nursing home level care paid for by the VA, are eligible for such care from the VA, or exceed the requirements for domiciliary care paid for by the VA but do not meet the requirements for nursing home level care paid for by the VA. The Inspector General of the VA must report to Congress on the pilot program, and the VA must submit a follow-up plan to address any deficiencies that are identified in the report.

Resolution· SRESS.Res. 621 (117th)open

A resolution honoring the life and legacy of the late Senator Orrin G. Hatch.

United States · United States Congress · 5 May 2022

This resolution expresses that the Senate has heard of the death of the Honorable Orrin G. Hatch, former U.S. Senator for the state of Utah. The resolution also expresses that the Senate honors the life and legacy of the late Senator Hatch for his unwavering dedication to Utah as a Senator and a public servant and accomplishments in legislating with principle and dedication for the good of the people of the United States. The resolution states when the Senate adjourns today, it stands adjourned as a further mark of respect to the memory of Senator Hatch.

Bill· SS. 4156 (117th)referred

VA Workforce Improvement, Support, and Expansion (WISE) Act of 2022

United States · United States Congress · 5 May 2022

VA Workforce Improvement, Support, and Expansion (WISE) Act of 2022 This bill modifies various policies and procedures of the Department of Veterans Affairs that are related to (1) the training, recruitment, and retention of VA employees, including in the Veterans Health Administration; (2) personnel matters, such as those related to pay and bonuses; and (3) VA assistance with national emergencies.

Bill· SS. 4105 (117th)open

Supply Chain Disruptions Relief Act

United States · United States Congress · 28 April 2022

Supply Chain Disruptions Relief Act This bill modifies the treatment of liquidations of new motor vehicle inventory as qualified LIFO (last in first out accounting method) inventory. It allows new motor vehicle dealers to elect to wait until the end of 2025 to replace their inventory for purposes of determining income attributable to the sale of such inventory during 2020 and 2021.

Bill· SS. 4111 (117th)referred

Chronic Wasting Disease Research and Management Act of 2022

United States · United States Congress · 28 April 2022

Chronic Wasting Disease Research and Management Act of 2022 This bill directs the Department of Agriculture (USDA) to address chronic wasting disease afflicting deer, elk, and moose populations. Specifically, the bill directs USDA to establish a program to research and manage the disease. Under the program, USDA must offer to enter into agreements with state or tribal wildlife agencies and departments of agriculture, institutions of higher education, and research centers to support research on the transmission of, resistance to, and diagnosis of the disease. In addition, USDA must offer to enter into agreements with such agencies and departments to support state and tribal efforts to develop and implement management strategies that address the disease. USDA must also develop and maintain materials to inform the public on chronic wasting disease and techniques to help prevent the spread of the disease. In addition, USDA must solicit public feedback on potential updates and improvements to standards of the chronic wasting disease herd certification program.

Bill· SS. 4030 (117th)open

Cattle Price Discovery and Transparency Act of 2022

United States · United States Congress · 7 April 2022

Cattle Price Discovery and Transparency Act of 2022 This bill requires the Department of Agriculture (USDA) to take various actions to address transparency in contract terms and pricing in the cattle industry. Among these requirements, USDA must maintain a publicly available library or catalog of contracts entered into between meat packers and livestock producers for the purchase of cattle, including any schedules of premiums or discounts associated with the contracts and other specific details. USDA must make this information available to producers and other interested parties in a monthly report. The bill further requires USDA to establish five to seven regions encompassing the entire continental United States that reasonably reflect similar fed cattle purchase practices for processing plants and establish mandatory minimums for each region (i.e., the minimum percentage of cattle purchases that are required to be made through approved pricing mechanisms from producers that are not packers). Under the bill, approved pricing mechanisms are generally purchases of fed cattle made through a negotiated purchase, through a negotiated grid purchase, at a stockyard, or through trading systems or platforms where multiple buyers and sellers can regularly make and accept bids and offers. The bill also establishes a maximum penalty for mandatory minimum violations by covered packers. Under the bill, a covered packer is a packer that has slaughtered an average of 5% or more of the number of fed cattle slaughtered nationally during the immediately preceding five calendar years.

Bill· SS. 4036 (117th)referred

Public Health and Border Security Act of 2022

United States · United States Congress · 7 April 2022

Public Health and Border Security Act of 2022 This bill requires the Department of Health and Human Services (HHS) to meet conditions related to notification and planning before terminating certain restrictions on imports and individuals entering the United States. Current law authorizes HHS to restrict entries and imports from foreign countries to prevent the introduction of communicable diseases. HHS exercised this authority as part of its COVID-19 response, including to allow for the expulsion of undocumented migrants at the border without any asylum processing. Under this bill, HHS may not terminate the restrictions for (1) at least 60 days after it notifies Congress of the end of the COVID-19 emergency, and (2) at least 30 days after it submits to Congress a plan for addressing the possible influx of migrants or imports resulting from lifting the restrictions.

Bill· SS. 4042 (117th)referred

Chiropractic Medicare Coverage Modernization Act of 2022

United States · United States Congress · 7 April 2022

Chiropractic Medicare Coverage Modernization Act of 2022 This bill expands Medicare coverage of chiropractic services to include all services provided by chiropractors, rather than only subluxation corrections through manual manipulation of the spine.

Law· SS. 4003 (117th)enacted

Law Enforcement De-Escalation Training Act of 2022

United States · United States Congress · 5 April 2022

Law Enforcement De-Escalation Training Act of 2022 This bill directs the Department of Justice (DOJ) to develop scenario-based training curricula that includes topics such as alternatives to the use of force, de-escalation tactics, and safely responding to an individual experiencing a mental, behavioral health, or suicidal crisis. The bill also directs DOJ to make grants to states for costs associated with providing the training to law enforcement officers or mental health professionals.

Bill· SS. 4006 (117th)referred

Honoring Purple Heart Recipients Act of 2022

United States · United States Congress · 5 April 2022

Honoring Purple Heart Recipients Act of 2022 This bill requires the Department of Defense to include individuals who are awarded the Purple Heart for qualifying actions that occur after the date of the enactment of this bill on its publicly accessible website that lists individuals who are recipients of certain military awards. Under the bill, the individual or their next of kin must elect to have the individual included on the list and the public release of the individual's name must be determined to not pose a security risk.

Bill· SS. 3979 (117th)referred

Support Kids Not Red Tape Act of 2022

United States · United States Congress · 31 March 2022

Support Kids Not Red Tape Act of 2022 This bill extends and modifies the authority of the Department of Agriculture (USDA) to waive certain requirements related to the National School Lunch Program, the School Breakfast Program, the Child and Adult Care Food Program, and the Summer Food Service Program. Current law authorizes USDA to waive certain requirements, such as those related to nutritional content and congregate feeding, for the purpose of dealing with the COVID-19 pandemic. Under this bill, USDA shall have authority through FY2023 to grant such a waiver, with no waiver having effect past FY2023. Currently, USDA's authority to grant a waiver expires on June 30, 2022, with no waiver having effect past the 2021-2022 school year. If a state elects to receive a waiver that modifies the operation of a school breakfast or lunch program for the 2022-2023 school year, the state must provide a transition plan to USDA. USDA must provide technical assistance to help school food authorities and states meet nutritional standards and resume regular meal program operations for the 2023-2024 school year. While a waiver is in effect during the 2022-2023 school year, the state subject to the waiver must provide technical assistance in lieu of fiscal action for meal pattern violations due to supply chain disruptions. The bill also appropriates funds as necessary to carry out this bill's activities.

Bill· SS. 3958 (117th)referred

China Trade Cheating Restitution Act of 2022

United States · United States Congress · 30 March 2022

China Trade Cheating Restitution Act of 2022 This bill requires the Department of Homeland Security to deposit into special accounts certain interest earned on antidumping and countervailing duties collected by U.S. Customs and Border Protection on or after October 1, 2000. Currently, the applicable date is October 1, 2014. Amounts in special accounts are distributed to affected domestic producers.

Bill· SS. 3909 (117th)referred

Military Spouse Hiring Act

United States · United States Congress · 23 March 2022

Military Spouse Hiring Act This bill expands the Work Opportunity Tax Credit (WOTC) to include the hiring of a qualified military spouse. (The WOTC permits employers who hire individuals who are members of a targeted group such as qualified veterans, ex-felons, or long-term unemployment recipients to claim a tax credit equal to a portion of the wages paid to those individuals.) A qualified military spouse is any individual who is certified by the designated local agency as being (as of the hiring date) a spouse of a member of the Armed Forces.

Resolution· SRESS.Res. 555 (117th)passed

A resolution recognizing the heritage, culture, and contributions of American Indian, Alaska Native, and Native Hawaiian women in the United States.

United States · United States Congress · 22 March 2022

This resolution celebrates the successes of American Indian, Alaska Native, and Native Hawaiian women and the contributions they have made in the United States. The resolution also recognizes the importance of supporting equity, providing safety, and upholding the interests of these women.

Bill· SS. 3867 (117th)open

Digital Asset Sanctions Compliance Enhancement Act of 2022

United States · United States Congress · 17 March 2022

Digital Asset Sanctions Compliance Enhancement Act of 2022 This bill allows additional sanctions against Russia and creates specified reporting requirements regarding digital assets. Specifically, the President must periodically identify foreign persons who facilitate evasion of Russian sanctions using digital assets. The bill authorizes sanctions against such persons. The bill requires a U.S. taxpayer engaged in offshore digital asset transactions greater than $10,000 to file an annual Report of Foreign Bank and Financial Accounts with the Financial Crimes Enforcement Network. The bill allows the Department of the Treasury to prohibit U.S. digital asset trading platforms and transaction facilitators from transacting with Russian digital asset addresses. Additionally, Treasury must report on its progress in implementing the bill and must annually identify foreign digital asset trading platforms that are a high risk for sanctions evasion, money laundering, and other illicit activities.

Bill· SS. 3860 (117th)open

Invest to Protect Act of 2022

United States · United States Congress · 17 March 2022

Invest to Protect Act of 2022 This bill directs the Office of Community Oriented Policing Services within the Department of Justice to award grants to local and tribal governments that employ fewer than 200 law enforcement officers. Grant funds may be used for various activities, including to purchase body cameras, provide de-escalation training, and improve recruitment and retention.

Bill· SS. 3870 (117th)open

Meat and Poultry Special Investigator Act of 2022

United States · United States Congress · 17 March 2022

Meat and Poultry Special Investigator Act of 2022 This bill establishes within the Department of Agriculture the Office of the Special Investigator for Competition Matters. Specifically, the office must use all available tools (e.g., subpoenas) to investigate and prosecute violations of the Packers and Stockyards Act of 1921 by packers and live poultry dealers. Further, the bill grants the office the authority to bring any civil or administrative action authorized by that act against a packer. Additionally, the office must serve as a liaison to the Department of Justice and the Federal Trade Commission with respect to competition and trade practices in the food and agricultural sector, consult with the Department of Homeland Security on national security and critical infrastructure security in the food and agricultural sector, and maintain a staff of attorneys and other professionals with appropriate expertise.

Bill· SS. 3874 (117th)referred

Border Patrol Pay Security Act of 2022

United States · United States Congress · 17 March 2022

Border Patrol Pay Security Act of 20 2 2 This bill changes how border patrol agents receive overtime pay when working up to 100 hours in a two-week period. For hours worked above 80, an agent is compensated at a rate of at least 150% of the agent's regular hourly rate.

Bill· SS. 3850 (117th)referred

Securing America's Ports of Entry Act of 2022

United States · United States Congress · 16 March 2022

Securing America's Ports of Entry Act of 2022 This bill requires U.S. Customs and Border Protection (CBP) to increase the number of CBP officers to specified levels. If CBP does not adequately increase personnel, the Government Accountability Office must report on CBP hiring practices.

Bill· SS. 3854 (117th)referred

Elizabeth Dole Home Care Act

United States · United States Congress · 16 March 2022

Elizabeth Dole Home and Community Based Services for Veterans and Caregivers Act of 2022 or the Elizabeth Dole Home Care Act This bill addresses home care and caregiver programs for veterans.

Bill· SS. 3844 (117th)referred

Economic Continuity and Stability Act

United States · United States Congress · 15 March 2022

Economic Continuity and Stability Act This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations. In the event a contract referencing LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired, or a replacement rate is not selected by a determining person as defined by the bill, the bill provides for a transition to a replacement rate selected by the Board of Governors of the Federal Reserve System. The bill also provides for conforming changes to these contracts, the continuity and enforceability of these contracts, tax treatment, and protections against liability as a result of such a transition.

Bill· SS. 3797 (117th)referred

Maternal and Child Health Stillbirth Prevention Act of 2022

United States · United States Congress · 10 March 2022

Maternal and Child Health Stillbirth Prevention Act of 2022 This bill expands the scope of the Maternal and Child Health Services Block Grant to include research and activities to prevent stillbirths.

Bill· SS. 3779 (117th)referred

Adjustable Interest Rate (LIBOR) Act

United States · United States Congress · 8 March 2022

Adjustable Interest Rate (LIBOR) Act This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations. In the event a contract referencing LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired, or a replacement rate is not selected by a determining person as defined by the bill, the bill provides for a transition to a replacement rate selected by the Board of Governors of the Federal Reserve System. The bill also provides for conforming changes to these contracts, the continuity and enforceability of these contracts, and protections against liability as a result of such a transition.