Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Quality Control Standards for Automated Valuation Models".

Bill 119 hjres 47 is a piece of legislation that aims to disapprove of a rule submitted by the Office of the Comptroller of the Currency (OCC) regarding "Quality Control Standards for Automated Valuation Models" (AVMs). The rule in question sets standards for AVMs, which are computer algorithms used by banks and other financial institutions to estimate the value of real estate properties.

The bill falls under Chapter 8 of Title 5 of the United States Code, which allows Congress to review and potentially overturn regulations issued by federal agencies. In this case, Congress is seeking to disapprove of the OCC's rule on AVM quality control standards.

The purpose of the bill is to ensure that AVMs are accurate and reliable in determining property values, as these valuations can have significant financial implications for individuals and businesses. By disapproving of the OCC's rule, Congress is signaling that they believe the standards set forth are not sufficient to guarantee the accuracy and reliability of AVMs. Overall, Bill 119 hjres 47 is a non-partisan effort to hold federal agencies accountable for their regulatory actions and ensure that AVMs are held to high quality control standards.