H.R. 2148 · 115th Congress
Clarifying Commercial Real Estate Loans
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 115th Congress ended.
R
PittengerSponsor16 cosponsors · 2 D, 14 R
D
Scott
MW
R
Walker
DR
R
Ross
AW
R
Wagner
AB
R
Barr
ST
R
Tipton
SS
R
Stivers
JG
D
Gottheimer
BF
R
Fitzpatrick
MC
R
Coffman
TB
R
Budd
LM
R
Messer
BL
R
Luetkemeyer
BL
R
Loudermilk
TE
R
Emmer
WD
R
Davidson1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Apr 26, 2017
- House Passed Nov 7, 2017
An HVCRE ADC loan is a one that: (1) is secured by land or improved real property; (2) has the purpose of providing financing to acquire, develop, or improve the real property such that the property becomes income-producing; and (3) is dependent upon future income or sales proceeds from, or refinancing of, the real property for the repayment of the loan.
What it does: CRS summary · Passed House amended · Nov 7, 2017
Clarifying Commercial Real Estate Loans
(Sec. 2) This bill amends the Federal Deposit Insurance Act to specify that a federal banking agency may not subject a depository institution to higher capital standards with respect to a high-volatility commercial real-estate (HVCRE) exposure unless the exposure is an HVCRE acquisition, development, or construction (ADC) loan.
An HVCRE ADC loan is a one that: (1) is secured by land or improved real property; (2) has the purpose of providing financing to acquire, develop, or improve the real property such that the property becomes income-producing; and (3) is dependent upon future income or sales proceeds from, or refinancing of, the real property for the repayment of the loan.
An HVCRE ADC loan does not include financing for a one- to four-family residential property, agricultural land, real property that would qualify as an investment in community development, existing income-producing real property secured by a mortgage, or certain commercial real-property projects. Furthermore, such a loan does not include any loan made prior to January 1, 2015.
A depository institution may reclassify a loan as a non-HVCRE ADC loan if the depository institution is satisfied that: (1) the acquisition, development, or improvement of real property being financed by the loan is complete; and (2) the cash flow being generated by the real property is sufficient to support the debt service and expenses of the real property.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Clarifying Commercial Real Estate Loans
Latest action (Nov 8, 2017): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 26, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Apr 26, 2017
- House Passed Nov 7, 2017
No recorded floor vote found.