H.R. 7809: HOPE Act of 2020

116th Congress · introduced 2020-07-29 · 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 2020-07-29 · official record
Who proposed it: Rep. Taylor, Van [R-TX-3] · 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

HOPE Act of 2020

Plain summary

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.

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

HOPE Act of 2020

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. Taylor, Van [R-TX-3] · 78 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Andy Barr (R-KY), David Kustoff (R-TN), Glenn Grothman (R-WI), Vicente Gonzalez (D-TX), Brian K. Fitzpatrick (R-PA), Michael Guest (R-MS), Ed Case (D-HI), David Rouzer (R-NC), Guy Reschenthaler (R-PA), Jefferson Van Drew (R-NJ), Ralph Norman (R-SC), Bruce Westerman (R-AR), Richard Hudson (R-NC), Don Bacon (R-NE), Ted Budd (R-NC), Jack Bergman (R-MI), John R. Moolenaar (R-MI), David Schweikert (R-AZ), Tim Walberg (R-MI), Robert E. Latta (R-OH), John R. Carter (R-TX), Josh Harder (D-CA), James R. Baird (R-IN), Kevin Hern (R-OK), Bill Huizenga (R-MI), Joe Wilson (R-SC), Lance Gooden (R-TX), Daniel Webster (R-FL), Norma J. Torres (D-CA), John R. Curtis (R-UT), Elissa Slotkin (D-MI), Pete Stauber (R-MN), Jason Smith (R-MO), Raul Ruiz (D-CA) and 18 more.

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 (1)

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).

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-116hr7809.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>

Record fed-us-cong116-hr7809 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116