H.R. 3014: CART Act of 2023

118th Congress · introduced 2023-04-28 · Taxation · Latest: Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

federal

Follow this bill, step by step

Where it came from: introduced 2023-04-28 · official record
Who proposed it: Rep. LaHood, Darin [R-IL-16] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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

CART Act of 2023

Plain summary

Catastrophic Risk Transfer Act of 2023 or the CART Act of 2023 This bill establishes a system for the taxation of catastrophic risk transfer companies and their security holders to ensure sufficient capital to cover catastrophic insurance losses. The bill defines catastrophic risk as a risk of loss that has a low likelihood of occurring but that would be large in amount. The bill defines catastrophic risk transfer company as any domestic corporation created and regulated under state law with the purpose of entering into one or more insurance or reinsurance agreements covering catastrophic risk.

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

CART Act of 2023

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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

Officials and money

Sponsor: Rep. LaHood, Darin [R-IL-16] · 11 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

James A. Himes (D-CT), Bradley Scott Schneider (D-IL), Jimmy Panetta (D-CA), W. Gregory Steube (R-FL), Carol D. Miller (R-WV), Brittany Pettersen (D-CO), John B. Larson (D-CT), Mike Carey (R-OH)

Sponsor's campaign money: Rep. LaHood, Darin [R-IL-16] reported raising $4.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

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-118hr3014.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/118/hr>

Record fed-us-cong118-hr3014 · catalog fed-us-congress-bills-cong118 · updated 2026-11-15 by psicol fed-bills-cong118