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Repeal of Corporate Transparency Act
Recent Bills/Repeal of Corporate Transparency Act

Repeal of Corporate Transparency Act

IntroducedN/A
Introduced1 year ago
Intro
Senate
House
Pres
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
More:Recently Introduced BillsGovernmentSenate Bills
Why This Matters

This bill would eliminate the Corporate Transparency Act, which requires companies to reveal their owners. It seeks to lessen government control over business operations.

If you own a business, you would no longer need to report who owns it to the government.
Who this affects
Business owners · Companies
What changes is this bill making?
  1. 1This bill would remove the Corporate Transparency Act from law.
  2. 2The Corporate Transparency Act requires companies to disclose their owners.
  3. 3Repealing this act would stop the requirement for companies to report ownership information.
  4. 4This bill also makes technical changes to related laws.
  5. 5The repeal aims to reduce government oversight of businesses.
Read the detailed summary

Repealing Big Brother Overreach Act This bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.

Last changed 2 months ago · checked hourly

Bill Progress1 of 4
Bills must pass the House, Senate, and be signed by the President to become law.
Intro
Senate
House
Pres
IntroducedCurrentJan 3, 2025

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors
See all 35 sponsors
Senate
House
President

The President

Joe Biden
46th President
Awaiting Vote
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