Bill
Bill > S3546
summary
Introduced
02/01/2022
02/01/2022
In Committee
02/01/2022
02/01/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
an Act of 2021. IN THE SENATE OF THE UNITED STATES FEBRUARY 1, 2022 Mr. HAGERTY (for himself, Mr. TILLIS, Ms. LUMMIS, Ms. ERNST, Mr. CRUZ, Mr. CRAMER, Mr. BRAUN, Mr. RUBIO, and Mr. SCOTT of Florida) intro- duced the following bill; which was read twice and referred to the Com- mittee on Finance A BILL To amend the Internal Revenue Code of 1986 to repeal the amendments made to reporting of third party net- work transactions by the American Rescue Plan Act of 2021.
AI Summary
This bill, known as the Stop the Nosy Obsession with Online Payments Act of 2022 (or the SNOOP Act of 2022), aims to repeal the changes made to the reporting of third-party network transactions by the American Rescue Plan Act of 2021. Specifically, it would reinstate the previous reporting threshold, where third-party settlement organizations (e.g., payment processors) would only be required to report on transactions exceeding $20,000 in total and 200 in number per participating payee. The bill also includes a conforming amendment to align with this change. The amendments made by this bill would apply to returns for calendar years beginning after December 31, 2021, and to transactions after the enactment of the American Rescue Plan Act of 2021.
Committee Categories
Budget and Finance
Sponsors (19)
Bill Hagerty (R)*,
Mike Braun (R),
Shelley Moore Capito (R),
John Cornyn (R),
Kevin Cramer (R),
Ted Cruz (R),
Joni Ernst (R),
Chuck Grassley (R),
John Hoeven (R),
John Neely Kennedy (R),
James Lankford (R),
Cynthia Lummis (R),
Roger Marshall (R),
Jerry Moran (R),
Rob Portman (R),
Mitt Romney (R),
Marco Rubio (R),
Rick Scott (R),
Thom Tillis (R),
Last Action
Read twice and referred to the Committee on Finance. (on 02/01/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/3546/all-info | 02/02/2022 |
| BillText | https://www.congress.gov/117/bills/s3546/BILLS-117s3546is.pdf | 02/05/2022 |
| Bill | https://www.congress.gov/117/bills/s3546/BILLS-117s3546is.pdf.pdf | 02/05/2022 |
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