H.R. 1244: Capital Access for Small Businesses and Jobs Act

115th Congress · introduced 2017-02-28 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2017-02-28 · official record
Who proposed it: Rep. King, Peter T. [R-NY-2] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Capital Access for Small Businesses and Jobs Act

Plain summary

Capital Access for Small Businesses and Jobs Act This bill amends the Federal Credit Union Act to allow a federal credit union, other than a low-income credit union, to receive payments on uninsured non-share accounts that: do not alter the cooperative nature of the credit union; are subordinate to all other claims against the credit union; are available to cover operating losses in excess of retained earnings and, to the extent so applied, will not be replenished; meet applicable requirements with respect to maturity; are subject to disclosure and consumer-protection requirements as determined by the National Credit Union Administration Board; are offered by a credit union that is sufficiently capitalized and well-managed; and are subject to such rules and regulations as the board may establish.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Capital Access for Small Businesses and Jobs Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. King, Peter T. [R-NY-2] · 13 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Brad Sherman (D-CA), Eleanor Holmes Norton (D-DC), Chellie Pingree (D-ME), Suzanne Bonamici (D-OR), Mark Takano (D-CA)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115hr1244.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>

Record fed-us-cong115-hr1244 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115