LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.
Teacher Loan Forgiveness Improvement Act of 2022 This bill modifies the Teacher Loan Forgiveness program by increasing the amount of loan forgiveness available for certain qualified teachers who have federal student loans. The program provides loan forgiveness for teachers who are highly qualified, teach full-time in a low-income school or educational service agency, and complete five years of consecutive service. Specifically, the bill increases from $5,000 to $15,000 the amount of available loan forgiveness for an elementary or secondary school teacher in any subject. It also increases from $17,500 to $30,000 the amount of available loan forgiveness for a secondary school math or science teacher and for a special education teacher.
Student Loan Forgiveness for Frontline Health Workers Act This bill establishes temporary programs to provide federal and private student loan forgiveness to certain frontline health care workers. Frontline health care workers are those individuals who have made significant contributions to the medical response (e.g., patient care, medical research, or testing) to the COVID-19 national emergency. Specifically, the Department of Education (ED) must carry out a program to forgive the outstanding balance of principal and interest due on federal student loans for borrowers who are frontline health care workers. Additionally, the Department of the Treasury must carry out a program to repay in full the outstanding balance of principal and interest due on certain private student loans for borrowers who are frontline health care workers. ED and Treasury must coordinate to ensure that eligibility determinations are consistent across both programs and that frontline health care workers who are eligible for both programs may apply for loan forgiveness with a single application. Further, such programs must be available to frontline health care workers who were borrowers of eligible loans and who died as a result of COVID-19. The bill specifies the notification requirements related to the availability of these programs. ED, Treasury, and the Department of Health and Human Services must jointly establish an intergovernmental working group to assist with the administration of these programs, including the development of the application process. The bill also excludes discharged student loan debt under these programs from an individual's gross income.
Big Oil Windfall Profits Tax Act This bill imposes an excise tax on the windfall profits of crude oil on taxpayers who extracted and imported more than 300,000 barrels (a barrel equals 42 U.S. gallons) of taxable crude oil (i.e., crude oil, crude oil condensates, and natural gasoline) in 2019, or who extracted and imported that amount in the current calendar quarter. The bill requires rebates of the tax collected to be paid to individual taxpayers. The bill establishes the Protect Consumers from Gas Hikes Fund to finance such rebates.
Honoring Harriet Tubman Act This bill requires the Joint Committee on the Library to obtain a statue of Harriet Tubman and place the statue in a suitable permanent location in National Statuary Hall.
Big Oil Windfall Profits Tax Act This bill imposes an excise tax on the windfall profits of crude oil on taxpayers who extracted and imported more than 300,000 barrels (a barrel equals 42 U.S. gallons) of taxable crude oil (i.e., crude oil, crude oil condensates, and natural gasoline) in 2019, or who extracted and imported that amount in the current calendar quarter. The bill requires rebates of the tax collected to be paid to individual taxpayers. The bill establishes the Protect Consumers from Gas Hikes Fund to finance such rebates.
School Social Workers Improving Student Success Act This bill provides certain resources to increase the number of social workers in elementary and secondary schools. Specifically, the bill directs the Department of Education to award grants to high-need local educational agencies to retain or hire school social workers. The bill also establishes a national technical assistance center for school social work to, among other duties, develop strategies for improving the effectiveness of the school social work workforce.
Adjustable Interest Rate (LIBOR) Act This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations. In the event a contract referencing LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired, or a replacement rate is not selected by a determining person as defined by the bill, the bill provides for a transition to a replacement rate selected by the Board of Governors of the Federal Reserve System. The bill also provides for conforming changes to these contracts, the continuity and enforceability of these contracts, and protections against liability as a result of such a transition.
Women and Climate Change Act of 2022 This bill addresses climate change and its effects on women and girls. Specifically, the bill establishes the Federal Interagency Working Group on Women and Climate Change within the Department of State. The bill outlines the functions of the working group, including the coordination of agencies' policies and activities relating to combating the effects of climate change on women and improving the government's response to and strategy for climate change. In addition, the Office of Global Women's Issues of the State Department must submit a strategy to prevent and respond to the effects of climate change on women.
Ukraine Humanitarian Support Act of 2022 This bill authorizes the Department of State and the U.S. Agency for International Development to provide humanitarian assistance to address the urgent needs of Ukrainians fleeing Ukraine and those internally displaced within Ukraine. The State Department must also report to Congress a strategy for working with foreign governments and multilateral organizations to address the humanitarian situation in the region as a result of further invasion of Ukraine by Russia.
This resolution strongly condemns the ongoing violence, war crimes, crimes against humanity, and systematic human rights abuses being carried out by Russia's military and its proxies at the direction of Russian President Vladimir Putin. It also encourages the U.S. government and partner nations to use their influence and vote in international organizations to hold those responsible for such crimes and abuses accountable.
Striking Workers Healthcare Protection Act This bill prohibits an employer from terminating or significantly altering the employer-provided health insurance coverage of an employee engaged in a lawful strike. An employer that violates this prohibition is subject to a maximum civil penalty of $50,000 for each violation.
