118th Congress · SENATE BILLBILL

S. 2623 — Protecting Small Business Information Act of 2023

“A bill to require the Secretary of the Treasury to harmonize the effective dates of all rules that the Secretary is required to issue under the Corporate Transparency Act, and for other purposes.”

Finance and financial sector

Introduced Jul 27, 2023

Last action Jul 27, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 27, 2023

Step 2

Referred

Jul 27, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires the Department of the Treasury to ensure all rules issued under the Corporate Transparency Act have the same effective date. Any final rules already issued must not take effect until all final rules under the act have been issued. The act requires companies to report beneficial ownership information (i.e., the identity of individuals behind a corporate entity) to the Financial Crimes Enforcement Network (FinCEN).

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Jul 27, 2023

Introduced in Senate

Jul 27, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.