On July 22, 2021, Representative Brad Sherman introduced H.R. 4616, the “Adjustable Interest Rate (LIBOR) Act of 2021” (the “Bill”) into the U.S. House of Representatives.  The Act is before the House’s Committee on Financial Services, Committee on Ways and Means, and Committee on Education and Labor.  On July 29, 2021, the House’s Committee on Financial Services voted to advance the Bill, along with certain technical amendments proposed by Representative Sherman.  The version of the Bill approved by the Committee on Financial Services can be accessed here:  Adjustable Interest Rate (LIBOR) Act of 2021 (Committee on Financial Services Version).  The Committee on Ways and Means, and Committee on Education and Labor have yet to act on the Bill.