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Bill > S26


US S26

US S26
SNOOP Act of 2023 Stop the Nosy Obsession with Online Payments Act of 2023


summary

Introduced
01/23/2023
In Committee
01/23/2023
Crossed Over
Passed
Dead
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)

Last Action

Read twice and referred to the Committee on Finance. (on 01/23/2023)

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