H.R. 146

Summary

H.R. 146, the Prohibition on IOER Act of 2025, was introduced in the House on Jan 3, 2025 by Rep. Warren Davidson (R). It was referred to Financial Services, and last saw action on Jan 3, 2025: Referred to the House Committee on Financial Services.

Record

Text

H.R. 146 has no co-sponsors and has not gone to a roll call.

119 HR 146 IH: Prohibition on IOER Act of 2025
 U.S. House of Representatives
 2025-01-03
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 146  IN THE HOUSE OF REPRESENTATIVES   January 3, 2025   Mr. Davidson  introduced the following bill; which was referred to the  Committee on Financial Services    A BILL
To amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves.
1.
Short title
This Act may be cited as the   Prohibition on IOER Act of 2025  .
2.
Prohibition on payment of earnings on surplus reserves
Section 19(b)(12) of the Federal Reserve Act ( 12 U.S.C. 461(b)(12) ) is amended—
(1)
in the heading, by inserting
required reserve   before
balances  ;
(2)
in subparagraph (A), by inserting after  Balances  the following:  of reserves required to be maintained by a depository institution under paragraph (2) that are ;
(3)
by redesignating subparagraph (C) as subparagraph (D); and
(4)
by inserting after subparagraph (B) the following:
(C)
Prohibition on other earnings
A Federal reserve bank may not pay earnings on balances maintained at a Federal reserve bank by or on behalf of a depository institution except as provided under this paragraph.
 .

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Sponsors

Rep. Warren Davidson (R) sponsors H.R. 146 alone.

Warren Davidson

Rep. · R–OH-8 · Sponsor

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Committees

H.R. 146 went before 1 committee: Financial Services.

Financial Services

Financial Services

Referred To · Jan 3, 2025 · 559 Bills

Actions

H.R. 146 has taken 2 actions since Jan 3, 2025.

Votes

H.R. 146 has not gone to a roll call.

Titles

H.R. 146 goes by 3 titles, 1 of them short titles.

• Prohibition on IOER Act of 2025 — Display Title
• Prohibition on IOER Act of 2025 — Short Title(s) as Introduced
• To amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves. — Official Title as Introduced

Classification

The Congressional Research Service files H.R. 146 under Finance and Financial Sector, one of its 31 policy areas, and gives it 4 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 146’s is Finance and Financial Sector.

Legislative Subjects

H.R. 146 carries 4 of CRS’s legislative subjects, from Banking and financial institutions regulation to Interest, dividends, interest rates.

Source: congress.gov · legiscan.com