summary
Introduced
01/15/2025
01/15/2025
In Committee
01/15/2025
01/15/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To repeal the Corporate Transparency Act.
AI Summary
This bill seeks to completely repeal the Corporate Transparency Act (CTA), which was originally part of the 2021 National Defense Authorization Act. The bill, titled the "Repealing Big Brother Overreach Act," would eliminate the CTA's requirements for businesses to report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). Specifically, the bill would remove all provisions of the original CTA from federal law, including associated amendments in Title 31 of the United States Code. The technical amendments would modify existing sections related to financial reporting and penalties, effectively erasing the CTA's mandate that certain businesses disclose details about their owners to prevent money laundering and financial crimes. By repealing the act, the bill would remove the obligation for many small businesses and corporations to provide detailed ownership information to the government, which had been a controversial aspect of the original legislation.
Committee Categories
Business and Industry
Sponsors (187)
Warren Davidson (R)*,
Robert Aderholt (R),
Mark Alford (R),
Rick Allen (R),
Mark Amodei (R),
Jodey Arrington (R),
Brian Babin (R),
Don Bacon (R),
Jim Baird (R),
Troy Balderson (R),
Andy Barr (R),
Tom Barrett (R),
Michael Baumgartner (R),
Aaron Bean (R),
Nicholas Begich (R),
Cliff Bentz (R),
Jack Bergman (R),
Stephanie Bice (R),
Andy Biggs (R),
Sheri Biggs (R),
Gus Bilirakis (R),
Lauren Boebert (R),
Mike Bost (R),
Josh Brecheen (R),
Robert Bresnahan (R),
Vern Buchanan (R),
Tim Burchett (R),
Eric Burlison (R),
Ken Calvert (R),
Kat Cammack (R),
Mike Carey (R),
Buddy Carter (R),
John Carter (R),
Juan Ciscomani (R),
Ben Cline (R),
Michael Cloud (R),
Andrew Clyde (R),
Tom Cole (R),
Mike Collins (R),
James Comer (R),
Eli Crane (R),
Jeff Crank (R),
Scott DesJarlais (R),
Byron Donalds (R),
Troy Downing (R),
Neal Dunn (R),
Chuck Edwards (R),
Jake Ellzey (R),
Ron Estes (R),
Gabe Evans (R),
Mike Ezell (R),
Pat Fallon (R),
Julie Fedorchak (R),
Randy Feenstra (R),
Randy Fine (R),
Brad Finstad (R),
Michelle Fischbach (R),
Chuck Fleischmann (R),
Mike Flood (R),
Vince Fong (R),
Virginia Foxx (R),
Scott Franklin (R),
Russell Fry (R),
Russ Fulcher (R),
Brandon Gill (R),
Craig Goldman (R),
Tony Gonzales (R),
Lance Gooden (R),
Paul Gosar (R),
Sam Graves (R),
Mark Green (R),
Marjorie Taylor Greene (R),
Morgan Griffith (R),
Glenn Grothman (R),
Michael Guest (R),
Brett Guthrie (R),
Harriet Hageman (R),
Abraham Hamadeh (R),
Andy Harris (R),
Mark Harris (R),
Diana Harshbarger (R),
Kevin Hern (R),
Clay Higgins (R),
Ashley Hinson (R),
Erin Houchin (R),
Richard Hudson (R),
Bill Huizenga (R),
Wesley Hunt (R),
Jeff Hurd (R),
Darrell Issa (R),
Brian Jack (R),
Ronny Jackson (R),
Dusty Johnson (R),
Jim Jordan (R),
Dave Joyce (R),
John Joyce (R),
Tom Kean (R),
Mike Kelly (R),
Trent Kelly (R),
Mike Kennedy (R),
Jen Kiggans (R),
David Kustoff (R),
Darin LaHood (R),
Nick LaLota (R),
Doug LaMalfa (R),
Nick Langworthy (R),
Bob Latta (R),
Mike Lawler (R),
Laurel Lee (R),
Julia Letlow (R),
Anna Luna (R),
Nancy Mace (R),
Ryan Mackenzie (R),
Nicole Malliotakis (R),
Celeste Maloy (R),
Tracey Mann (R),
Thomas Massie (R),
Michael McCaul (R),
Richard McCormick (R),
Addison McDowell (R),
John McGuire (R),
Mark Messmer (R),
Carol Miller (R),
Mary Miller (R),
Max Miller (R),
Mariannette Miller-Meeks (R),
Cory Mills (R),
John Moolenaar (R),
Barry Moore (R),
Blake Moore (R),
Riley Moore (R),
Tim Moore (R),
Nathaniel Moran (R),
Greg Murphy (R),
Troy Nehls (R),
Dan Newhouse (R),
Ralph Norman (R),
Zach Nunn (R),
Jay Obernolte (R),
Andy Ogles (R),
Robert Onder (R),
Burgess Owens (R),
Gary Palmer (R),
Jimmy Patronis (R),
Scott Perry (R),
August Pfluger (R),
Hal Rogers (R),
Mike Rogers (R),
John Rose (R),
David Rouzer (R),
Chip Roy (R),
Michael Rulli (R),
María Salazar (R),
Derek Schmidt (R),
David Schweikert (R),
Austin Scott (R),
Keith Self (R),
Pete Sessions (R),
Jefferson Shreve (R),
Mike Simpson (R),
Adrian Smith (R),
Jason Smith (R),
Lloyd Smucker (R),
Pete Stauber (R),
Elise Stefanik (R),
Greg Steube (R),
Dale Strong (R),
Marlin Stutzman (R),
David Taylor (R),
Claudia Tenney (R),
G.T. Thompson (R),
Tom Tiffany (R),
William Timmons (R),
Mike Turner (R),
David Valadao (R),
Jeff Van Drew (R),
Beth Van Duyne (R),
Derrick Van Orden (R),
Tim Walberg (R),
Randy Weber (R),
Daniel Webster (R),
Bruce Westerman (R),
Tony Wied (R),
Joe Wilson (R),
Rob Wittman (R),
Rudy Yakym (R),
Ryan Zinke (R),
Last Action
Referred to the House Committee on Financial Services. (on 01/15/2025)
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/119th-congress/house-bill/425/all-info |
| BillText | https://www.congress.gov/119/bills/hr425/BILLS-119hr425ih.pdf |
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