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Technical Changes to Direct Loan Definition (Federal Credit Reform Act)

This bill makes technical changes to the definition of a direct loan under the Federal Credit Reform Act of 1990. The amendment inserts references to loans made by other lenders or financing arrangements that defer payment for 90 days or fewer into the definition.
Key points
Amends Section 502(1) of the Federal Credit Reform Act of 1990 regarding the definition of a direct loan.
Inserts language regarding loans made by other lenders or financing arrangements that defer payment for 90 days or fewer.
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Status:
Expired
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Additional Information
Print number: 117_HR_8066
Sponsor: Rep. Yarmuth, John A. [D-KY-3]
Process start date: 2022-06-14
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-3-pro-preview
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To make technical changes clarifying section 502 of the Federal Credit Reform Act of 1990.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8066.

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 2022-06-14.

What are the main provisions?

Key points include:

  • Amends Section 502(1) of the Federal Credit Reform Act of 1990 regarding the definition of a direct loan.
  • Inserts language regarding loans made by other lenders or financing arrangements that defer payment for 90 days or fewer.
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. Yarmuth, John A. [D-KY-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on the Budget.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

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