Aircraft Ownership Transparency Act of 2023
This bill requires the Federal Aviation Administration (FAA) to obtain the identity of all beneficial owners of a covered entity prior to approving an aircraft certificate of registration.
A covered entity refers to a person, trust, association, copartnership, corporation, or other public or private entity. A beneficial owner refers to a natural person who directly or indirectly (1) exercises control over the covered entity, or (2) has an interest in or receives substantial economic benefits from the covered entity's assets.
Specifically, the FAA must require a covered entity seeking an aircraft certificate of registration to identify each beneficial owner by providing the owner's name and current street address; a unique identifying number from a U.S. passport or a driver's license issued by a state (or a copy of a passport issued by a foreign country if those documents are unavailable); the owner's nationality; and the make, model, and serial number of the aircraft to be registered.
The covered entity must also disclose any beneficial owner of the covered entity who is a foreign person. A foreign person is an individual who is not (1) a U.S. citizen, or a (2) non-U.S. national (alien under federal law) lawfully admitted for permanent residence into the United States.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2563 Introduced in House (IH)]
<DOC>
118th CONGRESS
1st Session
H. R. 2563
To require the disclosure of beneficial ownership by a foreign person
of aircraft registration, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 10, 2023
Mr. Lynch introduced the following bill; which was referred to the
Committee on Transportation and Infrastructure
_______________________________________________________________________
A BILL
To require the disclosure of beneficial ownership by a foreign person
of aircraft registration, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Aircraft Ownership Transparency Act
of 2023''.
SEC. 2. CERTIFICATION OF AIRCRAFT REGISTRATION.
(a) In General.--Before approving a certificate of registration
issued under section 44103 of title 49, United States Code, with a
covered entity, the Administrator of the Federal Aviation
Administration shall require the covered entity to--
(1) identify each beneficial owner of the covered entity
by--
(A) name;
(B) current residential or business street address;
(C) a unique identifying number from a nonexpired
passport issued by the United States or a nonexpired
drivers license issued by a State or if neither is
available, a legible and credible copy of the pages of
a nonexpired passport issued by the government of a
foreign country bearing a photograph, date of birth,
and unique identifying information for the person;
(D) nationality; and
(E) the make, model, and serial number of the
aircraft to be registered;
(2) in the case of a covered entity that is owned or
controlled by more than one entity, identify how each entity
relates to every other entity, including the extent to which
each entity holds an ownership interest in or exercises control
over another entity, and the relationship of each such entity
with the beneficial owners who are natural persons; and in
addition to each beneficial owner, identify each trust grantor,
trustee, trust protector, and beneficiary owner of the covered
entity that is a foreign person;
(3) in the case of a trust or association, identify the
chain of control that includes the owner, trustee, and
beneficiary; and
(4) disclose to the Administrator any beneficial owner of
the covered entity that is a foreign person.
(b) Timing.--
(1) In general.--The Administrator shall require a covered
entity to provide the information described in subsections
(a)(1) and (a)(2) when submitting an application for aircraft
certification.
(2) Updates.--The Administrator shall require a covered
entity to update a submission of the information described in
subsections (a)(1) and (a)(2) not later than 60 days after the
date of any change in--
(A) the list of beneficial owners of the covered
entity; or
(B) the information required to be provided
relating to each such beneficial owner.
(c) Definitions.--In this section, the following definitions apply:
(1) Beneficial owner.--
(A) In general.--Except as provided in subparagraph
(B), the term ``beneficial owner'' means, with respect
to a covered entity, each natural person who, directly
or indirectly--
(i) exercises control over the covered
entity through ownership interests, voting
rights, agreements, or otherwise; or
(ii) has an interest in or receives
substantial economic benefits from the assets
of the covered entity.
(B) Exceptions.--The term ``beneficial owner'' does
not include, with respect to a covered entity--
(i) a minor child;
(ii) a person acting as a trustee, nominee,
intermediary, custodian, or agent on behalf of
another person;
(iii) a person acting solely as an employee
of the covered entity and whose control over or
economic benefits from the covered entity
derives solely from the employment status of
the person;
(iv) a person whose only interest in the
covered entity is through a right of
inheritance, unless the person also meets the
requirements of subparagraph (A); or
(v) a creditor of the covered entity,
unless the creditor also meets the requirements
of subparagraph (A).
(C) Anti-abuse rule.--The exceptions under
subparagraph (B) shall not apply if used for the
purpose of evading, circumventing, or abusing the
requirements of this section.
(2) Covered entity.--The term ``covered entity'' means a
person, trust, association, copartnership, corporation, or
other public or private entity.
(3) Foreign person.--The term ``foreign person'' means an
individual who is not a United States person or an alien
lawfully admitted for permanent residence into the United
States.
(4) United states person.--The term ``United States
person'' means a natural person who is a citizen of the United
States or who owes permanent allegiance to the United States.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Transportation and Infrastructure.
Referred to the Subcommittee on Aviation.
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