Legislative Activity

This bill directs the Secretary of Agriculture to transfer a specific 0.81-acre parcel of Forest Service land in Perryville, Arkansas, to Perry County, Arkansas, without payment, provided the county requests it within 180 days. Perry County will bear all conveyance costs, including survey and environmental analysis expenses. The transfer will be executed via quitclaim deed, safeguarding existing rights and U.S. interests.

The S-CAP Act of 2025 amends the Internal Revenue Code of 1986, increasing the maximum number of shareholders an S corporation can have from 100 to 250. This change aims to broaden the appeal and accessibility of S corporation status for businesses. It applies to taxable years beginning after December 31, 2025.

The "International Nuclear Energy Financing Act of 2025" aims to promote nuclear energy by directing the Secretary of the Treasury to advocate for the removal of prohibitions on financial and technical assistance for nuclear energy generation and distribution at international development banks. It also seeks to establish "Nuclear Energy Assistance Trust Funds" to provide financial and technical support for nuclear energy projects in borrowing countries, ensuring competitive financing and adherence to U.S. or allied standards. The Act requires annual reporting on these efforts and will terminate 10 years after enactment.

The "Stop Tax Penalties on American Hostages Act of 2025" postpones tax deadlines and waives penalties for U.S. nationals held hostage or wrongfully detained abroad, including their spouses, by disregarding the period of detention when determining tax liabilities. It requires the Secretary of State and the Attorney General to identify affected individuals and inform the Secretary of the Treasury. The Secretary of the Treasury will establish a program for eligible individuals to apply for a refund or abatement of penalties and fines related to the "applicable period" from January 1, 2021, to the date this law is enacted. This ensures that those who have been held hostage or wrongfully detained are not penalized for their inability to meet tax obligations during their captivity.

This bill disapproves and invalidates the Consumer Financial Protection Bureau's rule regarding overdraft lending practices of very large financial institutions. The rule, found in the Federal Register, is nullified by this disapproval.

The Flatside Wilderness Additions Act amends the Arkansas Wilderness Act of 1984, adding approximately 2,212 acres to the Flatside Wilderness in the Ouachita National Forest. It also renames the Flatside Wilderness area to the Flatside-Bethune Wilderness. The Act does not impact the Secretary of Agriculture's authority related to managing fire, insects, and diseases within these wilderness areas.

This bill allocates $22,407,000 from the House of Representatives' funds to cover the expenses of the Committee on Financial Services for the 119th Congress, including staff salaries. The funds are divided into two equal amounts available for the first and second sessions of Congress. Payments will be made through vouchers authorized by the Committee and following the regulations set by the House Administration Committee.

The Small LENDER Act amends the Equal Credit Opportunity Act to ease the burden of new small business lending data collection rules. It provides financial institutions with a three-year compliance period, followed by a two-year safe harbor from penalties. The act defines "financial institution" as one originating at least 500 small business credit transactions in each of the previous two years, and "small business" as one with $1,000,000 or less in gross annual revenue.