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 (146)
Warren Davidson (R)*,
Mark Alford (R),
Rick Allen (R),
Mark Amodei (R),
Don Bacon (R),
Jim Baird (R),
Troy Balderson (R),
Tom Barrett (R),
Aaron Bean (R),
Nicholas Begich (R),
Jack Bergman (R),
Stephanie Bice (R),
Andy Biggs (R),
Gus Bilirakis (R),
Mike Bost (R),
Josh Brecheen (R),
Robert Bresnahan (R),
Vern Buchanan (R),
Tim Burchett (R),
Eric Burlison (R),
Kat Cammack (R),
Mike Carey (R),
Buddy Carter (R),
John Carter (R),
Juan Ciscomani (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),
Brad Finstad (R),
Michelle Fischbach (R),
Chuck Fleischmann (R),
Mike Flood (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),
Harriet Hageman (R),
Abraham Hamadeh (R),
Andy Harris (R),
Diana Harshbarger (R),
Kevin Hern (R),
Clay Higgins (R),
Ashley Hinson (R),
Erin Houchin (R),
Richard Hudson (R),
Wesley Hunt (R),
Jeff Hurd (R),
Ronny Jackson (R),
Dusty Johnson (R),
Jim Jordan (R),
Mike Kelly (R),
Trent Kelly (R),
Mike Kennedy (R),
Jen Kiggans (R),
Darin LaHood (R),
Doug LaMalfa (R),
Nick Langworthy (R),
Bob Latta (R),
Laurel Lee (R),
Nancy Mace (R),
Nicole Malliotakis (R),
Celeste Maloy (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),
Felix 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),
Gary Palmer (R),
Scott Perry (R),
August Pfluger (R),
John Rose (R),
David Rouzer (R),
Chip Roy (R),
Michael Rulli (R),
Derek Schmidt (R),
David Schweikert (R),
Keith Self (R),
Pete Sessions (R),
Jefferson Shreve (R),
Adrian Smith (R),
Jason Smith (R),
Lloyd Smucker (R),
Pete Stauber (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),
Beth Van Duyne (R),
Derrick Van Orden (R),
Tim Walberg (R),
Randy Weber (R),
Daniel Webster (R),
Bruce Westerman (R),
Tony Wied (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
Loading...
bill summary
Loading...
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 |
Loading...