{"format":1,"id":"117-hr-5914","congress":117,"number":"H.R. 5914","kind":"bill","group":"bills","title":"Empowering States to Protect Seniors from Bad Actors Act","title_source":"Short Title(s) as Passed House","official_title":"To amend the Investor Protection and Securities Reform Act of 2010 to provide grants to States for enhanced protection of senior investors and senior policyholders, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To amend the Investor Protection and Securities Reform Act of 2010 to provide grants to States for enhanced protection of senior investors and senior policyholders, and for other purposes."},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"Empowering States to Protect Seniors from Bad Actors Act"},{"type":"Display Title","title":"Empowering States to Protect Seniors from Bad Actors Act"},{"type":"Short Title(s) as Passed House","title":"Empowering States to Protect Seniors from Bad Actors Act"},{"type":"Short Title(s) as Reported to House","title":"Empowering States to Protect Seniors from Bad Actors Act"},{"type":"Short Title(s) as Introduced","title":"Empowering States to Protect Seniors from Bad Actors Act"}],"outcome":"passed_house","law_number":null,"introduced":"2021-11-09","chambers":{"house":{"status":"roll_call","date":"2022-05-11","vote":{"id":"117-2022-h157","question":"On Motion to Suspend the Rules and Pass, as Amended","title":"Empowering States to Protect Seniors from Bad Actors Act","result":"Passed","yea":371,"nay":48,"present":0,"not_voting":9,"source":"https://clerk.house.gov/evs/2022/roll157.xml"}},"senate":{"status":"na","date":null,"vote":null}},"president":{"status":"na","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.","date":"2022-05-12"},"nominees":null,"amendments":[],"other_votes":[],"crs_summary":{"date":"2022-05-11","stage":"Passed House","blocks":[{"k":"h","t":"Empowering States to Protect Seniors from Bad Actors Act"},{"k":"p","t":"This bill reauthorizes through FY2028 and otherwise revises the Senior Investor Protection Grant Program. The bill moves the program from the Consumer Financial Protection Bureau to the Securities and Exchange Commission, establishes a task force to oversee the program, and eliminates certain grant eligibility requirements."}],"words":54},"summary":{"main_subject":{"text":"Rewrites section 989A of the Investor Protection and Securities Reform Act of 2010 so that a task force established by the Commission makes competitive grants to State securities and insurance regulators for protecting seniors from financial fraud.","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh#H2DA9B575C9844E42A4E95A19DBDFE1B0"}]},"core_areas":["Grants to State securities commissions and insurance departments","Senior financial fraud investigation, prosecution and education","Grant reporting, audits and funding authorization"],"what_it_does":[{"text":"Requires the Commission to establish a task force, with a Chair appointed by the Chairman of the Commission, to carry out the grant program.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh#H2DA9B575C9844E42A4E95A19DBDFE1B0"}},{"text":"Directs the task force to make competitive grants to State securities commissions and State insurance departments, or agencies or offices performing like functions.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh#H2DA9B575C9844E42A4E95A19DBDFE1B0"}},{"text":"Allows grant funds to be used to hire staff, fund technology and training, provide seniors with educational materials, develop plans, and enhance State law on senior financial fraud, and bars their use for indirect expenses such as rent and utilities.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh#H2DA9B575C9844E42A4E95A19DBDFE1B0"}},{"text":"Limits each grant to $500,000, which the task force adjusts annually for the percentage change in the Consumer Price Index for All Urban Consumers.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh#H2DA9B575C9844E42A4E95A19DBDFE1B0"}},{"text":"Requires the task force to report to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs within 2 years and again within 5 years, and to audit the program annually.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh#H2DA9B575C9844E42A4E95A19DBDFE1B0"}},{"text":"Authorizes $10,000,000 to be appropriated for each of fiscal years 2023 through 2028 to carry out the grant program.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh#H2DA9B575C9844E42A4E95A19DBDFE1B0"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2022-05-11","rule":"passed","href":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-10-15","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/117th-congress/house-bill/5914","text":"https://www.congress.gov/bill/117th-congress/house-bill/5914/text"},"card":{"image":"card/item/117-hr-5914.png","v":"f14de9e8aa53","alt":"Votes on Record. H.R. 5914, 117th Congress: Empowering States to Protect Seniors from Bad Actors Act. House: 371 Yea, 48 Nay. Outcome: Passed House, 11 May 2022."}}