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New Markets Tax Credit Extension Act of 2019 This bill makes the new markets tax credit permanent. It also modifies the credit to (1) provide for an inflation adjustment to the limitation amount for the credit after 2018, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2018).

New Markets Tax Credit Extension Act of 2019 This bill makes the new markets tax credit permanent. It also modifies the credit to (1) provide for an inflation adjustment to the limitation amount for the credit after 2018, and (2) allow an offset against the alternative minimum tax for the credit (determined with respect to qualified equity investments initially made after 2018).

New Markets Stabilization Act This bill modifies provisions of the new markets tax credit (NMTC). Specifically, it increases and extends the NMTC limitation through 2022 and allows a carryback of the credit for five years. The bill also exempts the NMTC from the 75% general business credit limitation, revises debt modification rules for NMTC issuers and borrowers, and permanently exempts the NMTC from the alternative minimum tax.

Access to Emergency Credit Facilities Act of 2020 This bill provides for the treatment under existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs of nationally recognized statistical rating organizations, retroactive to March 15, 2020. Specifically, the bill prohibits the requirement of a credit rating from a specific organization to qualify for these aid programs. Furthermore, a credit rating from an organization approved by the Securities and Exchange Commission must be accepted to qualify for these aid programs. Additionally, the Government Accountability Office must report on the quality of credit ratings issued by these organizations, their effect on access to capital markets, and the implementation of this bill.

Toll Credit Marketplace Act This bill directs the Department of Transportation to establish and implement in at least 10 states a five-year pilot program to develop a toll credit marketplace for states to buy and sell toll credits. States may use funds from the sale of toll credits to offset the non-federal share of the cost of any transportation project.

Independence from Credit Policy Act of 2020 This bill limits the types of securities that the Federal Reserve Board may acquire in the open market to gold stock; currency; and direct obligations of the United States, foreign banks, or the International Monetary Fund. The board must exchange all other assets with the Department of the Treasury for direct U.S. obligations of equivalent value.

Free Credit Scores for Consumers Act of 2019 This bill requires credit reporting agencies to provide free credit scores to consumers with their free annual consumer reports. The bill also provides for automatic free credit scores and consumer reports in specified circumstances. Credit reporting agencies must provide consumers with additional information regarding the calculation of their credit score. Specified lenders must give consumers free copies of any consumer reports and credit scores they used for underwriting before consumers sign the respective loan agreements.

Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 or the Comprehensive CREDIT Act of 2020 This bill provides for additional consumer credit protections, sets forth requirements for credit reporting agencies, and prohibits the inclusion of specified information on credit reports. TITLE I—IMPROVEMENTS TO THE DISPUTE PROCESS The dispute process for consumers challenging information contained on their credit report is revised for challenges (1) through the credit reporting agency, and (2) through the furnisher of credit information. Credit reporting agencies must disclose to consumers how to dispute this information. If a credit report is revised as a result of a dispute, the credit reporting agency must provide the consumer a free copy of the revised report and credit score. Furnishers of credit information must maintain all records to substantiate the credit information provides to credit reporting agencies. Consumers must be notified when a furnisher provides specific negative credit information within five business days of it being reported to a credit reporting agency. The bill also establishes an appeals process for disputed credit information and sets forth procedures for the credit reporting agencies and furnishers of this information. Credit reporting agencies must identify disputed information on a credit report and ensure accuracy and completeness in credit reports. The bill also establishes the right for courts to award injunctive relief to require compliance with consumer credit laws. TITLE II—FREE CREDIT SCORES FOR CONSUMERS The bill requires credit reporting agencies to provide free credit scores to consumers along with their free annual credit reports. The bill also provides for * additional free credit scores and credit reports when a consumer is disputing information contained on their credit report or has had previously removed information reinserted into their report, and * automatic free credit scores and credit reports to consumers who have obtained a fraud alert or security freeze. Credit reporting agencies must provide consumers with additional information regarding the calculation of their credit score, including factors that adversely effected the score, and specific actions a consumer may take to improve the score. The bill establishes educational credit scores to be used by a consumer in understanding how a lender or creditor may use the information contained in a consumer's credit report if a current credit score is not available. Private education lenders, motor vehicle lenders, indirect auto lenders, and residential mortgage lenders must give consumers free copies of consumer reports or credit scores used for making underwriting decisions before consumers sign the respective loan agreements. TITLE III—STUDENT BORROWER CREDIT IMPROVEMENT ACT The bill prohibits a credit reporting agency from furnishing a credit report containing any adverse item of information relating to a delinquent or defaulted private education loan of a borrower who has a specified demonstrated history of loan repayment. TITLE IV—CREDIT RESTORATION FOR VICTIMS OF PREDATORY ACTIVITIES AND UNFAIR CONSUMER REPORTING PRACTICES The bill revises the information included on a credit report by * requiring removal of adverse information that resulted from fraudulent lending activity regarding private education loans and residential mortgage loans, * expediting the removal of debt that is no longer owed, * prohibiting the inclusion of an arrest that did not result in conviction, * in general reducing the time period adverse information stays on a credit report from seven years to four years, and * limiting the inclusion of certain medical debt. TITLE V—CLARITY IN CREDIT SCORE FORMATION The Consumer Financial Protection Bureau (CFPB) must regulate credit score models by establishing standards for validating the accuracy and predictive value of these models. The bill also gives the CFPB the authority to prohibit the use of certain factors in credit score models. The CFPB must report on the impact of the inclusion of nontraditional data in these models. TITLE VI—RESTRICTIONS ON CREDIT CHECKS FOR EMPLOYMENT DECISIONS A credit reporting agency is prohibited from providing a consumer's credit information for employment purposes, unless the information is for a national security investigation, for a background check or investigation required by regulation, or otherwise required by law. TITLE VII—PROHIBITION ON MISLEADING AND UNFAIR CONSUMER REPORTING PRACTICES The bill prohibits automatic renewals for promotional consumer credit products and services, allows the CFPB to set maximum fees for products and services offered by credit reporting agencies, and allows for multiple credit inquiries of the same type without penalty to a consumer's credit score. Additionally, the bill directs the CFPB to issue rules to provide for * access to consumer reporting information for nonnative English speakers, the visually impaired, and the hearing impaired; and * the registration of credit reporting agencies. The bill also establishes credit protections for consumers affected by a government shutdown. TITLE VIII—PROTECTIONS AGAINST IDENTITY THEFT, FRAUD, OR A RELATED CRIME The bill revises fraud alert protections to allow for an extension of these protections upon request of the consumer if the threat of fraud is ongoing. The bill also requires a credit reporting agency to provide free credit monitoring and identity theft protection services to victims of fraud, the unemployed, recipients of public assistance, active duty uniformed consumer, and those 65 years of age and older. The bill expands to victims of fraud existing consumer protections applicable to victims of identity theft, including free credit scores, additional free credit reports, and access to records of fraudulent activity. The CFPB must develop procedures for reporting fraud and other related crime. TITLE IX—MISCELLANEOUS Contract provisions that violate specified consumer protections or that are against the public interest are null and void. The Government Accountability Office (GAO) must study (1) the use of credit reports and credit scores in housing determinations, (2) the effects on future lending of credit scores impacted by defaulted or delinquent private student loans, and (3) credit reporting agency compliance with consent orders. The bill revises consumer credit protections for servicemembers. The bill (1) extends consumer credit protections to certain active duty uniformed consumers in a combat zone or aboard a U.S. vessel, (2) prohibits the inclusion on a credit report of adverse credit information that occurred while a uniformed consumer was engaged in that type of active duty, and (3) provides for negative credit information alerts to such consumers. The bill also adds to those groups covered by specified active duty credit protections individuals in the commissioned corps of the National Oceanic and Atmospheric Administration and the Public Health Service. The bill allows for the reporting of certain positive consumer credit information to credit reporting agencies. Specifically, a person may report information related to a consumer's performance in making payments either under a lease agreement for a dwelling or pursuant to a contract for a utility or telecommunications service. The GAO must report on the consumer impact of such reporting. Nationwide credit reporting agencies are subject to supervision and examination by the CFPB with respect to cybersecurity.

Patient Credit Protection Act of 2020 This bill prohibits credit reporting agencies from including certain medical debt on a credit report if (1) the consumer was covered by a health insurance plan at the time of the medical event; and (2) the consumer has paid, or is paying as part of a payment plan, the consumer's share of copayments, deductibles, and coinsurance. Credit reporting agencies are also prohibited from reporting certain debts incurred for unconscionably excessive medical expenses for health care items and services furnished at a hospital participating in Medicare. The bill also provides for the removal from a credit report of an impairment resulting from a medical debt within 30 days of notification that the consumer (1) has paid in full, or (2) is in regular compliance with a payment plan.

Supermarket Tax Credit for Underserved Areas Act This bill expands the tax credits that are available for the establishment of supermarkets in underserved areas (i.e., any enterprise community or empowerment zone and any renewal community). The bill includes provisions that (1) increase the rate of the rehabilitation tax credit for a supermarket building placed in service after December 31, 2019, and before January 1, 2022, in an underserved area; (2) increase by $1,000 the limit on wages eligible for the work opportunity tax credit for employees of a new supermarket located in an underserved area; and (3) allow a business-related tax credit for 15% of the gross receipts from the retail sale of locally grown fresh fruits and vegetables in a new supermarket in an underserved area.

Toll Credit Marketplace Act of 2020 This bill directs the Department of Transportation (DOT) to establish and implement a toll credit exchange pilot program to * identify the extent of the demand to purchase toll credits, * identify the cash price of toll credits through bilateral transactions between states, * analyze the impact of the purchase or sale of toll credits on transportation expenditures, * test the feasibility of expanding the pilot program to allow all states to participate on a permanent basis, and * identify any other repercussions of the toll credit exchange. In carrying out the pilot program, DOT must provide that an originating state may transfer or sell to a recipient state a credit not previously used by the originating state. DOT must also make available a public website on which originating states must post the amount of toll credits that are available for sale or transfer to a recipient state. DOT may terminate the pilot program or the participation of any state in the pilot program if the program is not serving a public benefit or it is not cost effective.

Improving Credit Reporting for All Consumers Act This bill generally modifies requirements related to consumer credit reporting. Specifically, it revises the dispute process for consumers challenging information contained on their credit report, establishes an appeals process for disputed information, and establishes the right to injunctive relief. The bill also requires additional disclosures from credit reporting agencies and furnishers of credit information, prohibits automatic renewals for promotional consumer credit products and services, and makes other related changes. Additionally, the bill directs the Consumer Financial Protection Bureau to issue rules under this bill, including rules to provide for (1) accuracy and completeness in credit reports; (2) access to consumer reporting information for nonnative English speakers, the visually impaired, and the hearing impaired; and (3) the registration of consumer reporting agencies.

Protecting Your Credit Score Act of 2020 This bill revises provisions related to consumer credit reports and credit reporting agencies. (Sec. 2) Credit reporting agencies are directed to create a central online portal that allows consumers to (1) access free credit reports and credit scores, (2) dispute errors, and (3) place or lift security freezes. (Sec. 3) Credit reporting agencies must verify specified identifying information when adding credit information to a consumer's file. Credit reporting agencies must also perform periodic audits of credit reports to ensure accuracy. (Sec. 4) A credit reporting ombudsperson, whose responsibilities include resolving persistent errors by credit reporting agencies, is established at the Consumer Financial Protection Bureau (CFPB). Credit reporting agencies must provide a consumer with additional information after an agency's reinvestigation of disputed credit information. (Sec. 5) A court may award injunctive relief to compel a credit reporting agency to comply with credit report protections. (Sec. 6) Consumers will receive a free credit score upon request and upon certain adverse credit decisions. Credit reporting agencies must provide available information to consumers regarding the purpose behind the procurement of a credit report. (Sec. 7) The bill establishes a public registry for credit reporting agencies. (Sec. 8) The bill also provides the CFPB with statutory authority for supervising credit reporting agencies. (Sec. 9) The bill gives the CFPB the authority to establish data security requirements for credit reporting agencies. (Sec. 10) The CFPB must report on the effectiveness of specified audits in addressing data security risks at credit reporting agencies. (Sec. 11) The Government Accountability Office must report on the feasibility of credit reporting agencies replacing Social Security numbers as identifiers with another type of federal identification.

Rural Forest Markets Act of 2020 This bill directs the Department of Agriculture (USDA) to establish the Rural Forest Market Investment Program to guarantee investments to finance certain projects that will enable rural private forest landowners to participate in an innovative market for forest carbon or other products. Eligible projects are projects developed by a private entity or a publicly supported, charitable nonprofit organization engaged in the aggregation of sustainable forestry practices implemented by rural private forest landowners to facilitate the sale of credits in the voluntary carbon market or other environmental market using a methodology approved by a credible, third-party entity. USDA may guarantee up to $150 million with respect to each investment. Authority to carry out the program terminates on September 30, 2023.

Closing the Credit Gap Act This bill establishes a Community Advantage Loan Program under which the Small Business Administration (SBA) may guarantee loans made by covered institutions to small business concerns in underserved markets. Specifically, the bill makes the Community Advantage Pilot Program (CA) permanent and includes women and minorities as eligible groups for CA loans in addition to the other categories that are currently eligible. The bill requires at least 60% of loans made by a covered institution under the program be made to small business concerns in underserved markets, and it allows the SBA to waive the $250,000 cap on loan sizes up to $350,000. The bill further requires the SBA to provide both in-person and online training and technical assistance that is free or low-cost for covered institutions making loans under the program. The SBA must establish a working group to develop recommendations for the SBA to effectively manage, support, and promote the program and its mission. Lastly, the bill requires the Government Accountability Office to report on program outcomes.

Restoring Unfairly Impaired Credit and Protecting Consumers Act This bill revises requirements regarding consumer credit information included by a consumer reporting agency on a credit report, including by * requiring removal of adverse information that resulted from specified fraudulent lending activity, * shortening the time period adverse information stays on reports, and * limiting the inclusion of certain medical debt on reports. The bill also requires a consumer reporting agency to provide free credit monitoring and identity theft protection services to certain consumers, including victims of fraud, active duty military, and those 65 years of age and older.

Jumpstarting Our Businesses' Success Credit Act of 2020 or the JOBS Credit Act of 2020 This bill increases the employer tax credit for the retention of employees and coordinates such credit with the Payroll Protection Program. Specifically, it increases the rate of the employee retention credit to 80% of up to $15,000 in employee wages per calendar quarter with an increased annual wage cap of $45,000 for all calendar quarters. The bill increases the maximum credit amount to $36,000. The bill expands the definition oflarge employer,for credit eligibility purposes, to include employers with more than 1,500 employees and more than $41.5 million in gross receipts in 2019, and requires employers to show a significant decline in gross receipts. It also extends eligibility for the credit to state governmental agencies and Indian tribal governments. The bill also coordinates the credit with the Paycheck Protection Program to allow employers to claim both programs subject to certain restrictions.

Disaster Protection for Workers' Credit Act This bill provides credit protections to consumers during the COVID-19 (i.e., coronavirus disease 2019) outbreak and other major disasters. The bill generally prohibits furnishers of credit information from reporting adverse credit information that is the result of any inaction or action that occurred during the COVID-19 outbreak. It also prohibits any such reporting regarding a consumer who resides in an area covered by a major disaster declaration. Additionally, medical debt related to the COVID-19 outbreak or a major disaster may not be reported to a consumer reporting agency regardless of when the expenses were incurred. Credit reporting agencies are prohibited from including in a credit report any such adverse credit information. The Consumer Financial Protection Bureau must create a website that allows consumers to report economic hardship as a result of the COVID-19 outbreak or a major disaster. Consumers may request the deletion of adverse credit information and request an extension of certain credit protections. Credit reporting agencies must provide unlimited free credit reports and free credit scores upon request (1) during the COVID-19 outbreak or a major disaster, and (2) for a year afterwards. The bill places restrictions on new credit scoring models created or implemented during the COVID-19 outbreak or a major disaster.

Credit Union Modernization Act of 2019 This bill revises the duties of boards of directors of federal credit unions, including by removing requirements for (1) the disclosure to the National Credit Union Administration of certain loan officer information, and (2) the direct management of credit union membership by a board of directors.

Veterans and Consumers Fair Credit Act This bill applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.

Veterans and Consumers Fair Credit Act This bill applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.

Credit Union Governance Modernization Act of 2020 This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting. The expelled member may request reinstatement by the credit union board. Member conduct that may be cause for expulsion includes * a loss to the credit union, * a violation of the credit union membership agreement, * a disruption to the operations of a credit union, * fraud or attempted fraud, and * other illegal or inappropriate behavior.

Credit Union Governance Modernization Act of 2020 This bill revises the procedure for expelling members from a federal credit union. Specifically, a member may be expelled for cause pursuant to a policy adopted by a majority vote of a quorum of the directors of a credit union. Currently, a member may be expelled by a two-thirds vote of the credit union membership present at a special meeting. The expelled member may request reinstatement by the credit union board. Member conduct that may be cause for expulsion includes * a loss to the credit union, * a violation of the credit union membership agreement, * a disruption to the operations of a credit union, * fraud or attempted fraud, and * other illegal or inappropriate behavior.

Dual Credit Innovation Act This bill directs the Department of Education to annually recognize with a Dual Credit Innovation Award eligible partnerships between an institution of higher education that provides a dual credit program and a local educational agency or high school. A dual credit program is a program offered by such a partnership through which a secondary school student who has not graduated from high school with a regular high school diploma is able to enroll in one or more postsecondary courses and earn postsecondary credit that (1) is transferable to the institutions of higher education in the partnership, and (2) applies toward completion of a degree or recognized educational credential.

Energy Sector Innovation Credit Act of 2019 This bill allows new tax credits for investment in emerging energy technology and for the production of electricity from such technology. The bill also allows an energy tax credit for energy storage technologies, including equipment which receives, stores, and delivers energy using batteries, compressed air, pumped hydropower, hydrogen storage (including hydrolysis), thermal energy storage, regenerative fuel cells, flywheels, capacitors, superconducting magnets, or other technologies.