arrow_back Back to App

New Rules for Government Loan Program Cost Assessment

This act introduces new rules for assessing the costs of government loan and loan guarantee programs, requiring the use of "fair-value" accounting. This aims to more accurately show the true cost of these programs, potentially influencing future public spending decisions and loan availability.
Key points
Mandates the use of "fair-value" accounting for estimating the cost of government loan and loan guarantee programs.
The Congressional Budget Office will publish these estimates, increasing transparency in public spending.
Annual reports on the cost of federal credit programs will be publicly available, helping citizens understand how their money is spent.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_5571
Sponsor: Rep. Norman, Ralph [R-SC-5]
Process start date: 2023-09-19
Lustra uses Artificial Intelligence. Verify details in source documents.
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 118_HR_5571.

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 2023-09-19.

What are the main provisions?

Key points include:

  • Mandates the use of "fair-value" accounting for estimating the cost of government loan and loan guarantee programs.
  • The Congressional Budget Office will publish these estimates, increasing transparency in public spending.
  • Annual reports on the cost of federal credit programs will be publicly available, helping citizens understand how their money is spent.
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 2025-12-25.

CATEGORIES

Economy Public Investments