SNOOP Act of 2023

Hozzl · 2024-03-14T10:57:22Z

Explore the details of Senate Bill 26 SNOOP Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/14/2024, 10:57 AM

Summary of Bill S 26

The SNOOP Act of 2023, also known as Bill 118 s 26, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to address concerns related to government surveillance and the protection of individual privacy rights.

The SNOOP Act of 2023 aims to increase transparency and accountability in government surveillance activities by requiring federal agencies to report on the number of surveillance requests they receive, the number of individuals targeted by these requests, and the types of information collected. This information would be made available to the public in an annual report, allowing for greater oversight and scrutiny of government surveillance practices.

Additionally, the bill includes provisions to strengthen privacy protections for individuals by requiring federal agencies to obtain a warrant before conducting surveillance on US citizens. This would help to ensure that government surveillance activities are conducted in a manner that respects the rights of individuals and complies with the Fourth Amendment of the US Constitution. Overall, the SNOOP Act of 2023 represents an important step towards safeguarding individual privacy rights and increasing transparency in government surveillance activities. If passed, this legislation would help to ensure that government surveillance is conducted in a responsible and accountable manner.

Congressional Summary of S 26

Stop the Nosy Obsession with Online Payments Act of 2023 or the SNOOP Act of 2023

This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned more than $20,000 on more than 200 separate transactions in an applicable tax period. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network.

This reverses a provision in the American Rescue Plan Act of 2021 that lowered the reporting threshold to $600 with no minimum on the number of transactions.

Read the Full Bill

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Current Status of Bill S 26

Bill S 26 is currently in the status of Bill Introduced since January 23, 2023. Bill S 26 was introduced during Congress 118 and was introduced to the Senate on January 23, 2023. Bill S 26's most recent activity was Read twice and referred to the Committee on Finance. as of January 23, 2023

Bipartisan Support of Bill S 26

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 26

Primary Policy Focus

Taxation

Potential Impact Areas

- Small business

- Tax administration and collection, taxpayers

- Wages and earnings

Alternate Title(s) of Bill S 26

SNOOP Act of 2023

Stop the Nosy Obsession with Online Payments Act of 2023

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.