Prohibiting IRS Financial Surveillance Act

12/30/2022, 7:48 AM

Prohibiting IRS Financial Surveillance Act

This bill prohibits the Department of the Treasury from requiring a financial institution to report the balances, transactions, or the transfers into and out of a financial account. This prohibition does not apply to laws or regulations in effect on the date of enactment.

Congress
117
Number
S - 3056
Introduced on
2021-10-21
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

10/21/2021
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Prohibiting IRS Financial Surveillance Act

This bill prohibits the Department of the Treasury from requiring a financial institution to report the balances, transactions, or the transfers into and out of a financial account. This prohibition does not apply to laws or regulations in effect on the date of enactment.

Alternative Names
Official Title as IntroducedA bill to prohibit the implementation of new requirements to report bank account deposits and withdrawals.
Policy Areas
Finance and Financial Sector

Comments

Related

Member:  Rob Portman
Member:  Richard C. Shelby
Member:  Ben Sasse

Recent Activity

Latest Summary2/1/2022

Prohibiting IRS Financial Surveillance Act

This bill prohibits the Department of the Treasury from requiring a financial institution to report the balances, transactions, or the transfers into and out of a financial accou...

Latest Action10/21/2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.