The House of Representatives, in a near-unanimous vote on July 17, passed a package of capitalformation legislation intended to help small businesses and entrepreneurs while protecting investors. The JOBS and Investor Confidence Act of 2018 (S. 488), composed of 32 individual pieces of legislation that have passed the committee with bipartisan support in the current Congress, had the backing of Financial Services Committee Chairman Jeb Hensarling (R-TX) and Ranking Member Maxine Waters (D-CA). The measures were assembled by committee leaders for the Senate to consider under a deal reached in May by the two chambers when the House passed without amendment the Senate's Economic Growth, Regulatory Relief, and Consumer Protection Act. In addition to the capital markets reform provisions, the package includes the Financial Institution Living Will Improvement Act that would lengthen the resolution plan submission process to two years, and require the Fed and FDIC to provide feedback on resolution plans within six months and publicly disclose the assessment framework used to review the living will plans. Another provision, the Common Sense Credit Union Capital Relief Act, delays the effective date of the Risk-Based Capital rule used by the National Credit Union Administration from 2019 to 2021. And the bill includes the Alleviating Stress Test Burdens to Help Investors Act, amending Dodd-Frank to exempt non-bank financial institutions not primarily regulated by federal banking agencies or the Federal Housing Finance Agency from mandatory company-run stresstesting requirements. Senate leaders have pledged to "work towards a vote in the coming months.