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New Rules for Government Loan Program Cost Estimates

This act introduces new rules for estimating the costs of government loan and loan guarantee programs. The goal is to provide a more accurate picture of the actual costs, which could influence future public spending decisions. For citizens, this means potentially greater transparency in how taxpayer money is managed.
Key points
Implements "fair-value" accounting for government loan and loan guarantee programs.
The Congressional Budget Office will provide supplementary, more detailed cost estimates for these programs.
An annual report on the cost of federal credit programs will be published, increasing transparency.
New estimates can be used to determine compliance with budget requirements, potentially affecting future program availability.
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Status:
Expired
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Additional Information
Print number: 117_HR_3727
Sponsor: Rep. Norman, Ralph [R-SC-5]
Process start date: 2021-06-04
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Fair-Value Accounting and Budget Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3727.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-06-04.

What are the main provisions?

Key points include:

  • Implements "fair-value" accounting for government loan and loan guarantee programs.
  • The Congressional Budget Office will provide supplementary, more detailed cost estimates for these programs.
  • An annual report on the cost of federal credit programs will be published, increasing transparency.
  • New estimates can be used to determine compliance with budget requirements, potentially affecting future program availability.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Norman, Ralph [R-SC-5].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Public Investments