Bill 119 s 100 is a proposed piece of legislation in the US Congress that aims to repeal the Corporate Transparency Act. The Corporate Transparency Act was originally passed in order to increase transparency and accountability in corporate ownership and prevent money laundering and other illicit activities.
If Bill 119 s 100 were to be passed, it would effectively undo the provisions of the Corporate Transparency Act. This would mean that the requirements for corporations to disclose their beneficial owners and other key information would no longer be in place.
Supporters of Bill 119 s 100 argue that the Corporate Transparency Act places unnecessary burdens on businesses and infringes on their privacy rights. They believe that the Act is overly intrusive and creates unnecessary red tape for corporations.
Opponents of Bill 119 s 100, on the other hand, argue that repealing the Corporate Transparency Act would make it easier for criminals and other bad actors to hide their illicit activities behind the veil of corporate ownership. They believe that the Act is an important tool in the fight against money laundering and other financial crimes.
Overall, the passage of Bill 119 s 100 would have significant implications for corporate transparency and accountability in the United States. It is important for lawmakers and the public to carefully consider the potential consequences of repealing the Corporate Transparency Act before making a decision on this bill.