Small Business Red Tape Relief Act of 2024

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7963 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 7963

 To amend title 31, United States Code, to require FinCEN to submit to 
   Congress a quarterly report on certain beneficial ownership data.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 11, 2024

Mr. Nunn of Iowa (for himself and Mr. Cuellar) introduced the following 
    bill; which was referred to the Committee on Financial Services

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                                 A BILL


 
 To amend title 31, United States Code, to require FinCEN to submit to 
   Congress a quarterly report on certain beneficial ownership data.

    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 ``Small Business Red Tape Relief Act 
of 2024''.

SEC. 2. QUARTERLY REPORT ON CERTAIN BENEFICIAL OWNERSHIP DATA.

    Section 5336(b) of title 31, United States Code, is amended by 
adding at the end the following:
            ``(7) Quarterly report on certain beneficial ownership 
        data.--With respect to the first quarter that begins after the 
        date of the enactment of this paragraph, and each quarter 
        thereafter, the Director shall submit to the Committee on 
        Banking, Housing, and Urban Affairs of the Senate and the 
        Committee on Financial Services of the House of Representatives 
        a report that includes, with respect to the period covered by 
        the report--
                    ``(A) the number of reporting companies described 
                in paragraph (1)(B) that submitted a report required 
                under this subsection;
                    ``(B) the number of reporting companies described 
                in paragraph (1)(C) that submitted a report required 
                under this subsection; and
                    ``(C) the number of reporting companies that 
                submitted a report required under paragraph (1)(D).''.
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