Bill > HJRes48

This resolution is a congressional action to invalidate a rule proposed by the Board of Governors of the Federal Reserve System concerning "Quality Control Standards for Automated Valuation Models" (AVMs). Specifically, the resolution uses the Congressional Review Act (Chapter 8 of Title 5, United States Code) to formally disapprove the rule published in the Federal Register on August 7, 2024. By passing this resolution, Congress is effectively stating that the Federal Reserve's proposed standards for automated valuation models—which are likely computer-based methods for estimating property values—will not be allowed to take effect. The resolution declares that the rule "shall have no force or effect," preventing its implementation and potentially requiring the Federal Reserve to revise or reconsider its proposed standards for these automated valuation models.

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https://www.congress.gov/bill/119th-congress/house-joint-resolution/48/all-info