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H.R. 7809 · 116th Congress

HOPE Act of 2020

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

VTR TaylorSponsor
78 cosponsors · 23 D, 55 R
ABR Barr ALD Lawson JHR Hagedorn DKR Kustoff GGR Grothman VGD Gonzalez HRD Rouda BFR Fitzpatrick MGR Guest CMR McMorris Rodgers GPR Pence ECD Case DRR Rouzer DBR Bishop RHR Hudson RNR Norman BPR Posey TRR Reed GRR Reschenthaler JVR Van Drew BWR Westerman CCD Crist DPD Phillips DBR Bacon JBR Bergman TBR Budd SSR Stivers AGR Gonzalez JMR Moolenaar JCR Carter JCD Cunningham RGD Grijalva JHD Harder JKR Katko RLR Latta DSR Schweikert FUR Upton TWR Walberg JBR Baird KHD Horn DLR Lesko BBR Byrne KHR Hern LGR Gooden AHD Hastings BHR Huizenga AMR Mooney JWR Wilson DWR Webster LBR Bucshon TGR Graves JCR Curtis DRR Riggleman ESD Slotkin NTD Torres JWR Walorski JSR Smith PSR Stauber RRD Ruiz BFD Foster FKR Keller TTR Tiffany AWR Wagner BLR Loudermilk FRR Rooney ABD Bera RKD Krishnamoorthi DLR LaHood MQD Quigley JCR Comer DTD Trone TCR Cole HSD Stevens HCD Cuellar SMD Murphy GND Napolitano DJR Joyce TER Emmer

2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Helping Open Properties Endeavor Act of 2020 or the HOPE Act of 2020

What it does: CRS summary · Introduced in House · Jul 29, 2020

Helping Open Properties Endeavor Act of 2020 or the HOPE Act of 2020

This bill establishes an equity facility in the Department of the Treasury to assist commercial mortgage borrowers. Specifically, Treasury must guarantee the purchase by financial institutions of certain equity instruments backed by a commercial mortgage. The bill defines commercial mortgage as a mortgage loan secured by an interest in real property owned for rental income. Borrowers with reduced revenues from their commercial property may qualify for an amount not to exceed 10% of the outstanding amount owed on their commercial mortgage.

The bill sets forth eligibility requirements for borrowers, as well as requirements for the equity instruments, including rates, fees, repayment, and the rights of purchasers.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: HOPE Act of 2020

Also known as: Helping Open Properties Endeavor Act of 2020

Latest action (Jul 29, 2020): Referred to the House Committee on Financial Services.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 29, 2020

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.