Immediate Funds Availability Act of 2020

House Bill 6306 - Immediate Funds Availability Act of 2020: Overview, Status, and Impact

Hozzl · 2022-02-08T23:17:28Z

Explore the details of House Bill 6306 Immediate Funds Availability Act of 2020 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

2/8/2022, 11:17 PM

Congressional Summary of HR 6306

Immediate Funds Availability Act of 2020

This bill temporarily requires depository institutions located in a state with a public health emergency to immediately make available for withdrawal certain deposited funds. Specifically, the first $1,500 of a deposit must be made available in real time. This requirement expires three years after enactment.

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Current Status of Bill HR 6306

Bill HR 6306 is currently in the status of Bill Introduced since March 19, 2020. Bill HR 6306 was introduced during Congress 116 and was introduced to the House on March 19, 2020. Bill HR 6306's most recent activity was Referred to the House Committee on Financial Services. as of March 19, 2020

Bipartisan Support of Bill HR 6306

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 6306

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Bank accounts, deposits, capital

- Banking and financial institutions regulation

- Emergency medical services and trauma care

- Federal Reserve System

- State and local government operations

Alternate Title(s) of Bill HR 6306

Immediate Funds Availability Act of 2020

To amend the Expedited Funds Availability Act to temporarily require that certain funds deposited with depository institutions by existing customers be available for withdrawal in real time in States with a public health emergency, and for other purposes.

Immediate Funds Availability Act of 2020