This week in the U.S. House of Representatives, Senate: Sept. 6-9, 2016

United States Capitol_ U.S. House of Representatives and U.S. Senate

The U.S. House of Representatives and U.S. Senate both return Tuesday after an extended break due to both Party’s political conventions as well as the annual August recess.

U.S. House of Representatives

On Monday, the House is not in session.

On Tuesday the House in session and will consider several bills under Suspension of the Rules.  A full list of bills can be found here.

On Wednesday, the House will consider additional bills under Suspension of the Rules as well as H.R. 5063: the Stop Settlement Slush Funds Act. The bill prohibits settlement agreements involving the U.S. government from requiring the other party to make a donation to a third party. Essentially, the bill seeks to prevent the federal government from using settlement agreements to require defendants to donate money to outside groups — the bill’s sponsor has said an 18-month investigation by the House Judiciary and Financial Services committees on mortgage lending settlements found that the Justice Department engaged in a “pattern or practice” of directing settlement funds to third-party groups. The committees found that the Justice Department used mandatory donation requirements in mortgage lending settlements to direct $880 million to third-party groups such as La Raza and NeighborWorks.

  • Alabama co-sponsor(s): None

On Thursday and for the balance of the week, the House is expected to consider the following:

H.R. 2357: the Accelerating Access to Capital Act. The bill expands the range of companies that can use Form S-3 to register securities sales, exempts the sale of certain securities from registration with the SEC and state regulatory agencies, and requires the SEC to revise certain regulations and filing requirements. The bill is intended to provide smaller companies greater access to capital by allowing them to sell securities without incurring excessive regulatory costs and without having to wait for SEC review of registration documents.

  • Alabama co-sponsor(s): None

H.R. 5424: the Investment Advisers Modernization Act. The bill reduces reporting and other requirements placed on private equity funds by the 2010 Dodd-Frank Act. The bill would eliminate requirements that funds report annually on their investments and activities and that funds be subject to unannounced, independent annual audits. It also modifies existing requirements under the Investment Advisers Act regarding the relationship between investment fund managers and their investors to largely exempt private equity funds. The modifications includes loosening current restrictions on advertising, and expanding the circumstances under which funds are not obligated to notify investors when there is a change in ownership or control.

  • Alabama co-sponsor(s): None

U.S. Senate

The Senate is in session and is expected to take procedural votes on a FY2017 Military Construction-VA spending package that includes funds to combat the Zika virus (H.R. 2577) and the FY2017 Defense appropriations bill (H.R. 5293).


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