Coronavirus Accounting Relief Act

Summary

Coronavirus Accounting Relief Act This bill temporarily prohibits financial regulators from requiring any person impacted by COVID-19 (coronavirus disease 2019) to comply with the current expected credit loss rule issued by the Financial Accounting Standards Board in June 2016. (This rule establishes a credit loss accounting standard based on expected losses rather than incurred losses.) The prohibition ends six months after the date of enactment.

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Timeline

1. 12 March 2020

   Introduced

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

   Source: IntroReferral

2. 12 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 March 2020 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 March 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 March 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 March 2020

  Open at official source

Sponsors

• Blaine Luetkemeyer · R · Sponsor
• Andy Barr · R · Sponsor
• Bryan Steil · R · Sponsor
• Bill Huizenga · R · Sponsor
• Rep. Williams, Roger [R-TX-25] · R · Sponsor
• Denver Riggleman · R · Sponsor
• · hsag00 · Standing
• · hsba00 · Standing

Related records

No cross-record relationships stored yet.