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Protecting Small Business Information: Harmonizing Rule Effective Dates

This act aims to simplify compliance for small businesses with new beneficial ownership reporting rules. It ensures all related regulations take effect simultaneously, reducing confusion and administrative burden for entrepreneurs. Citizens operating small businesses will have more time to prepare for these new requirements.
Key points
All new rules for reporting business ownership information will become effective on the same date, simplifying compliance.
The implementation of new regulations will be delayed until all rules are issued and certified by the Secretary of the Treasury.
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Expired
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Additional Information
Print number: 118_HR_4035
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2023-06-12
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting Small Business Information Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4035.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-06-12.

What are the main provisions?

Key points include:

  • All new rules for reporting business ownership information will become effective on the same date, simplifying compliance.
  • The implementation of new regulations will be delayed until all rules are issued and certified by the Secretary of the Treasury.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Courts and Law