House bill · 119th Congress · Latest step: Committee action
Promoting New Bank Formation Act
Official title: To require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes.
Sponsor: Rep. Andy Barr R-KYWhere it went
- IntroducedJan 16, 2025
- Committee actionApr 2, 2025
- Passed House—
- Passed Senate—
- To the President—
- Became law—
Latest action: May 6, 2025 — Placed on the Union Calendar, Calendar No. 64.
Cost and committee reports
Official records Congress.gov attaches to H.R. 478.
- CBO cost estimateThe Congressional Budget Office published “H.R. 478, Promoting New Bank Formation Act” on November 12, 2025. CBO’s description reads “As reported by the House Committee on Financial Services on May 6, 2025”.Read the CBO estimate ↗Source: Congressional Budget Office, November 12, 2025 ↗
Evidence
- Field in the Congress.gov record
- cboCostEstimates
- CBO publication
- https://www.cbo.gov/publication/61892
- CBO publication date
- November 12, 2025
- Congress.gov bill record
- H.R. 478, 119th Congress
- Congress.gov API record
- https://api.congress.gov/v3/bill/119/hr/478
- Record last updated by Congress.gov
- September 19, 2026
- PORKER copy retrieved
- September 24, 2026
- Stored copy, SHA-256 of the file
84a5195a4fc9145df2ddeb2651567c4b9f8fb64a7bac66fd776aef8b754013d1
PORKER links to the estimate and does not repeat its dollar figures. Each estimate is for the version of the bill its description names; the bill may have changed since.
- Committee reportCongress.gov lists 1 committee report for this bill: H. Rept. 119-90 ↗. The Congress.gov committee record lists a “Reported By” entry for the Financial Services Committee on May 6, 2025.Source: Congress.gov, reported May 6, 2025 ↗
Evidence
- Field in the Congress.gov record
- committeeReports
- Report API records
- https://api.congress.gov/v3/committee-report/119/HRPT/90
- Congress.gov bill record
- H.R. 478, 119th Congress
- Congress.gov API record
- https://api.congress.gov/v3/bill/119/hr/478
- Record last updated by Congress.gov
- September 19, 2026
- PORKER copy retrieved
- September 24, 2026
- Stored copy, SHA-256 of the file
84a5195a4fc9145df2ddeb2651567c4b9f8fb64a7bac66fd776aef8b754013d1
A committee report is the committee’s own explanation of the bill. PORKER lists it and links to it; reading it is up to you.
- Constitutional authority statementThe sponsor’s statement of where the Constitution gives Congress the power to pass this bill. Statement by Mr. BARR, as printed in the Congressional Record (Vol. 171, No. 9, January 16, 2025, Page H222):Article 1, Section 8 of the United States Constitution.Source: Congress.gov, Congressional Record January 16, 2025 ↗
Evidence
- Field in the Congress.gov record
- constitutionalAuthorityStatementText
- Statement length
- 55 characters
- Congress.gov bill record
- H.R. 478, 119th Congress
- Congress.gov API record
- https://api.congress.gov/v3/bill/119/hr/478
- Record last updated by Congress.gov
- September 19, 2026
- PORKER copy retrieved
- September 24, 2026
- Stored copy, SHA-256 of the file
84a5195a4fc9145df2ddeb2651567c4b9f8fb64a7bac66fd776aef8b754013d1
PORKER shows the statement exactly as printed, with the page markup removed. It is the sponsor’s claim; it is not a legal finding.
From the Congress.gov bill record for H.R. 478, last updated September 19, 2026. PORKER’s copy was retrieved September 24, 2026 and is refreshed nightly. Open “Evidence” on any line for the record, field and file fingerprint.
Vote results
No recorded roll-call votes on this bill in PORKER’s records (voice votes and unanimous consent are not roll calls; roll-call records start in 2011).
Cosponsors
24 cosponsors — 24 Republicans
0 of 24 cosponsors (0%) are from the other party.
Mark Alford (R-MO), Ben Cline (R-VA), Monica De La Cruz (R-TX), Byron Donalds (R-FL), Troy Downing (R-MT), Neal Dunn (R-FL), Jake Ellzey (R-TX), Scott Fitzgerald (R-WI), Mike Flood (R-NE), Scott Franklin (R-FL), Bill Huizenga (R-MI), Brad Knott (R-NC), Michael Lawler (R-NY), Barry Loudermilk (R-GA), Addison McDowell (R-NC), Daniel Meuser (R-PA), Tim Moore (R-NC), Gary Palmer (R-AL), John Rose (R-TN), Derek Schmidt (R-KS), Pete Sessions (R-TX), Jefferson Shreve (R-IN), William Timmons (R-SC), Roger Williams (R-TX).
More from the sponsor
Other 119th Congress bills sponsored by Rep. Andy Barr.
Sponsor’s state and district
Data as of Sep 25, 2026 · bill record checked by PORKER from Congress.gov · votes from Senate.gov and the House Clerk. PORKER is non-partisan.