HR 7314 United States House · 119th Congress

Advancing Commonsense Policies Act

# Summary of Legislative Document This document appears to be a comprehensive legislative act containing numerous provisions across various policy areas. The key sections include: ## Retirement and Employee Benefit Provisions (Sections 401-450) - Amendments to retirement plans including Roth IRA provisions, hardship withdrawal rules for 403(b) plans, and limitations on elective deferrals - New provisions allowing penalty-free withdrawals for domestic abuse victims - Rules for employer matching contributions treated as Roth contributions - Amendments to simplify retirement plan administration and allow retroactive benefit increases ## Veterans and Military Programs (Section 501) - Establishment of the "Boots to Business Program" to provide entrepreneurship training to veterans, military members, and their families ## Criminal Justice Provisions (Sections 601-602) - Increased penalties for human trafficking and coercion in school zones or near educational institutions ## Museum Creation (Sections 701-703) - Establishment of a commission to study creating a National Museum of Asian Pacific American History and Culture - Requirements for the commission's composition, duties, and reporting ## Semiconductor Industry Initiatives (Sections 801-804) - Findings about semiconductor supply chain importance - Coordination requirements with state economic development organizations - Reporting requirements on foreign direct investment in semiconductor manufacturing ## Equipment Approval (Section 901) - Amendments to Homeland Security Act regarding review process for equipment not meeting consensus standards ## NASA Real Property (Section 1001-1002) - Extension of NASA's authority to use enhanced use leasing for underutilized properties ## Congressional Rules (Sections 1101-1201) - Requirements for committee hearings on implementation - New rules for protecting whistleblowers' identities ## Maritime Port Study (Section 1301) - Mandate for study on foreign ownership of major U.S. container ports ## Budget and Appropriations (Sections 1401-1601) - Budgetary effects determination - Amendments to Federal Credit Union Act regarding board meeting frequency - Specific appropriations for various departments including Health and Human Services, Agriculture, State, Defense, Homeland Security, and Energy The document represents a complex legislative package with provisions affecting retirement planning, national security, veterans' benefits, cultural institutions, and multiple federal agency operations.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
President
Introduced Feb 2, 2026 Last action May 20, 2026
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Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
2
May 20, 2026
Committee
Referred to the Subcommittee on Livestock, Dairy, and Poultry.
lower
Feb 2, 2026
Committee
Referred to the Committee on Ways and Means, and in addition to the Committees on Veterans' Affairs, Armed Services, Energy and Commerce, Transportation and Infrastructure, Financial Services, Education and Workforce, Oversight and Government Reform, Foreign Affairs, Agriculture, Natural Resources, Small Business, Science, Space, and Technology, the Judiciary, Homeland Security, Intelligence (Permanent Select), House Administration, Rules, Ethics, the Budget, and Appropriations, 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.
lower
Feb 2, 2026
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Seth Magaziner
Seth Magaziner
DDemocratic
RI
2