Bill
Bill > S5078
US S5078
A bill to amend the CARES Act to extend the temporary relief from troubled debt restructurings.
summary
Introduced
12/21/2020
12/21/2020
In Committee
12/21/2020
12/21/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the CARES Act to extend the temporary relief from troubled debt restructurings.
AI Summary
This bill extends the temporary relief from troubled debt restructurings provided in the CARES Act. Specifically, it amends the CARES Act to change the expiration date of the relief from December 31, 2020 to January 1, 2022. This extension allows financial institutions to continue providing relief to borrowers who are experiencing financial hardship due to the COVID-19 pandemic without being required to categorize those loans as "troubled debt restructurings," which can negatively impact the institution's financial reporting.
Committee Categories
Housing and Urban Affairs
Sponsors (4)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 12/21/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/5078/all-info |
| BillText | https://www.congress.gov/116/bills/s5078/BILLS-116s5078is.pdf |
| Bill | https://www.congress.gov/116/bills/s5078/BILLS-116s5078is.pdf.pdf |
Loading...