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Extension of Foreign Financial Information Sharing Pilot Program Start Date

This legal act changes the start date of a pilot program that allows for the sharing of financial information with foreign branches and affiliates. This means the program will begin later, only after the Secretary of the Treasury issues specific rules. For citizens, while the direct impact is minimal, it could mean a delay in improving processes related to international capital flow and combating financial crime.
Key points
The financial information sharing program with foreign entities will start later than initially planned.
The program's commencement is now dependent on the Secretary of the Treasury issuing detailed rules.
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93%
VOTING RESULTS
2023-12-12
For 396
Against 28
Abstain 0
Full voting results open_in_new
gavel
Status:
Expired
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Additional Information
Print number: 118_HR_5524
Sponsor: Rep. Garcia, Sylvia R. [D-TX-29]
Process start date: 2023-09-18
Voting date: 2023-12-12
Meeting no: 1
Voting no: 714
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Foreign Affiliates Sharing Pilot Program Extension Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5524.

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 2023-09-18.

What are the main provisions?

Key points include:

  • The financial information sharing program with foreign entities will start later than initially planned.
  • The program's commencement is now dependent on the Secretary of the Treasury issuing detailed rules.
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

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Garcia, Sylvia R. [D-TX-29].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 396 - 28 (Roll no. 714). (text: 12/11/2023 CR H6753)

Is this summary verified?

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

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Courts and Law