Community Association Reporting Exemption Act

Community Association Reporting Exemption Act

This bill exempts certain tax-exempt homeowners associations from beneficial ownership information reporting requirements. 

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9045 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 9045

 To amend title 31, United States Code, to exempt entities subject to 
 taxation under section 528 of the Internal Revenue Code of 1986 from 
          certain beneficial ownership reporting requirements.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 15, 2024

  Mr. McCormick (for himself, Mr. Loudermilk, and Mr. Weber of Texas) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend title 31, United States Code, to exempt entities subject to 
 taxation under section 528 of the Internal Revenue Code of 1986 from 
          certain beneficial ownership reporting requirements.

    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 ``Community Association Reporting 
Exemption Act''.

SEC. 2. EXEMPTION.

    Section 5336(a)(11)(B)(xix) of title 31, United States Code, is 
amended--
            (1) in subclause (II), by striking ``or'' at the end;
            (2) in subclause (III), by adding ``or'' at the end; and
            (3) by adding at the end the following:
                                    ``(IV) entity subject to taxation 
                                under section 528 of the Internal 
                                Revenue Code of 1986;''.
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