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116-hr-6249116th Congress

Coronavirus Accounting Relief Act

Sponsored By: Representative Luetkemeyer, Blaine [R-MO-3]

Unknown

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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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Luetkemeyer, Blaine [R-MO-3]

MO • R

Cosponsors

  • Rep. Barr, Andy [R-KY-6]

    KY • R

    Sponsored 3/12/2020

  • Rep. Steil, Bryan [R-WI-1]

    WI • R

    Sponsored 3/12/2020

  • Rep. Huizenga, Bill [R-MI-4]

    MI • R

    Sponsored 3/12/2020

  • Rep. Williams, Roger [R-TX-25]

    TX • R

    Sponsored 3/12/2020

  • Rep. Riggleman, Denver [R-VA-5]

    VA • R

    Sponsored 3/12/2020

Roll Call Votes

No roll call votes available for this bill.

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