Bill
Bill > S26
summary
Introduced
01/23/2023
01/23/2023
In Committee
01/23/2023
01/23/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
an Act of 2021. IN THE SENATE OF THE UNITED STATES JANUARY 23 (legislative day, JANUARY 3), 2023 Mr. HAGERTY (for himself, Ms. LUMMIS, Mr. CRUZ, Mr. HOEVEN, Mr. CRAMER, Mr. KENNEDY, Mr. BARRASSO, Mr. LANKFORD, and Mr. BRAUN) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to repeal the amendments made to reporting of third party network transactions by the American Rescue Plan Act of 2021.
AI Summary
This bill, the Stop the Nosy Obsession with Online Payments Act of 2023 or the SNOOP Act of 2023, aims to repeal the amendments made to the reporting of third-party network transactions by the American Rescue Plan Act of 2021. The bill proposes to reinstate the previous exception for de minimis payments by third-party settlement organizations, where reporting would only be required if the payment amount exceeds $20,000 and the aggregate number of transactions exceeds 200. This change would reduce the reporting requirements for small online transactions, providing more privacy and flexibility for individuals and businesses using third-party payment platforms.
Committee Categories
Budget and Finance
Sponsors (34)
Bill Hagerty (R)*,
John Barrasso (R),
Marsha Blackburn (R),
John Boozman (R),
Katie Boyd Britt (R),
Mike Braun (R),
Ted Budd (R),
Shelley Moore Capito (R),
Susan Collins (R),
John Cornyn (R),
Tom Cotton (R),
Kevin Cramer (R),
Ted Cruz (R),
Joni Ernst (R),
Lindsey Graham (R),
Chuck Grassley (R),
John Hoeven (R),
John Neely Kennedy (R),
James Lankford (R),
Mike Lee (R),
Cynthia Lummis (R),
Joe Manchin (I),
Roger Marshall (R),
Jerry Moran (R),
Rand Paul (R),
Pete Ricketts (R),
Mitt Romney (R),
Marco Rubio (R),
Eric Schmitt (R),
Rick Scott (R),
Tim Scott (R),
Thom Tillis (R),
Tommy Tuberville (R),
J.D. Vance (R),
Last Action
Read twice and referred to the Committee on Finance. (on 01/23/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/26/all-info |
| BillText | https://www.congress.gov/118/bills/s26/BILLS-118s26is.pdf |
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