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United States · Bill · HR

H.R. 7809 (116th)

HOPE Act of 2020

referredUnited States· United States Congress· EN

Introduced

29 July 2020

Last action

29 July 2020 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Van Taylor, Rep. Lawson, Al, Jr. [D-FL-5], Rep. Barr, Andy [R-KY-6], Rep. Kustoff, David [R-TN-8], Jim Hagedorn, Rep. Rouda, Harley [D-CA-48], Rep. Grothman, Glenn [R-WI-6], Rep. Gonzalez, Vicente [D-TX-34], Rep. Fitzpatrick, Brian K. [R-PA-1], Rep. Guest, Michael [R-MS-3], Rep. McMorris Rodgers, Cathy [R-WA-5], Rep. Pence, Greg [R-IN-6], Rep. Case, Ed [D-HI-1], Rep. Rouzer, David [R-NC-7], Rep. Reed, Tom [R-NY-23], Rep. Reschenthaler, Guy [R-PA-14], Rep. Posey, Bill [R-FL-8], Rep. Van Drew, Jefferson [R-NJ-2], Rep. Bishop, Dan [R-NC-8], Rep. Norman, Ralph [R-SC-5], Rep. Westerman, Bruce [R-AR-4], Rep. Hudson, Richard [R-NC-8], Rep. Crist, Charlie [D-FL-13], Rep. Phillips, Dean [D-MN-3], Rep. Bacon, Don [R-NE-2], Rep. Stivers, Steve [R-OH-15], Sen. Budd, Ted [R-NC], Rep. Bergman, Jack [R-MI-1], Anthony Gonzalez, Rep. Moolenaar, John R. [R-MI-2], Rep. Schweikert, David [R-AZ-1], Rep. Katko, John [R-NY-24], Rep. Walberg, Tim [R-MI-5], Rep. Latta, Robert E. [R-OH-5], Rep. Carter, John R. [R-TX-31], Rep. Cunningham, Joe [D-SC-1], Rep. Harder, Josh [D-CA-9], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Upton, Fred [R-MI-6], Rep. Lesko, Debbie [R-AZ-8], Rep. Horn, Kendra S. [D-OK-5], Rep. Baird, James R. [R-IN-4], Rep. Byrne, Bradley [R-AL-1], Rep. Hern, Kevin [R-OK-1], Rep. Huizenga, Bill [R-MI-4], Rep. Wilson, Joe [R-SC-2], Rep. Gooden, Lance [R-TX-5], Rep. Webster, Daniel [R-FL-11]

Subjects

Discovery layer

Source updated

3 January 2025

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Summary

Helping Open Properties Endeavor Act of 2020 or the HOPE Act of 2020 This bill establishes an equity facility in the Department of the Treasury to assist commercial mortgage borrowers. Specifically, Treasury must guarantee the purchase by financial institutions of certain equity instruments backed by a commercial mortgage. The bill defines commercial mortgage as a mortgage loan secured by an interest in real property owned for rental income. Borrowers with reduced revenues from their commercial property may qualify for an amount not to exceed 10% of the outstanding amount owed on their commercial mortgage. The bill sets forth eligibility requirements for borrowers, as well as requirements for the equity instruments, including rates, fees, repayment, and the rights of purchasers.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 29 July 2020

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 29 July 2020

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 July 2020

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 29 July 2020

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  • Introduced in House (PDF)

    Introduced in House · EN · 29 July 2020

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  • Introduced in House

    summary · EN · 29 July 2020

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Sponsors

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Related records

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Sources

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