Protecting Small Business Information Act of 2023

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4035 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4035

  To require the Secretary of the Treasury to harmonize the effective 
 dates of all rules required under the Corporate Transparency Act, and 
                          for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 12, 2023

Mr. McHenry (for himself, Mr. Meuser, Mr. Luetkemeyer, Mr. Barr, Ms. De 
La Cruz, Mr. Lawler, Mrs. Wagner, Mr. Flood, Mr. Williams of Texas, Mr. 
Donalds, Mrs. Kim of California, Mr. Posey, Mr. Davidson, Mrs. Houchin, 
and Mr. Hill) introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
  To require the Secretary of the Treasury to harmonize the effective 
 dates of all rules required under the Corporate Transparency Act, 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 ``Protecting Small Business 
Information Act of 2023''.

SEC. 2. HARMONIZING BENEFICIAL OWNERSHIP RULEMAKING EFFECTIVE DATES.

    (a) In General.--In issuing the rules required under the Corporate 
Transparency Act (including the amendments made by such Act), the 
Secretary of the Treasury shall ensure that all such rules take effect 
on the same date.
    (b) Delay of Effective Dates.--A final rule issued by the Secretary 
of the Treasury under the Corporate Transparency Act (or any amendment 
made by such Act), including the final rule issued by the Secretary of 
the Treasury titled ``Beneficial Ownership Information Reporting 
Requirements'' (87 Fed. Reg. 59498; published September 30, 2022) shall 
not take effect until after the date on which the Secretary of the 
Treasury certifies to the Congress, and makes such certification 
available to the public, that--
            (1) all final rules required under the Corporate 
        Transparency Act (including the amendments made by such Act) 
        have been issued by the Secretary of the Treasury; and
            (2) all such final rules will take effect on the same date.
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