Bill > HR6029

This bill amends the Bank Secrecy Act to create a specific exemption for crime stopper organizations when reporting currency transactions. Specifically, the bill directs the Secretary of the Treasury to exempt financial institutions (depository institutions) from having to file currency transaction reports for transactions involving nonprofit organizations that provide cash rewards to individuals who provide information about crimes. This means that when a crime stopper organization receives or disburses cash reward payments related to crime tips, these transactions would not need to be reported under the standard currency transaction reporting requirements. The exemption is designed to potentially encourage more people to come forward with crime-related information by simplifying the financial reporting process for organizations that offer cash rewards for such tips. The change would be added to section 5313(d) of title 31 in the United States Code, which governs financial transaction reporting.

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https://www.congress.gov/bill/119th-congress/house-bill/6029/all-info