arrow_back Back to App

Small Business Relief: New Ownership Data Reports for Congress

This act aims to ease red tape for small businesses by requiring quarterly reports on beneficial ownership data to Congress. This will provide citizens and their representatives with better insight into how many companies are complying with new transparency requirements, potentially influencing future regulations.
Key points
Mandates FinCEN to submit quarterly reports to Congress on the number of companies that have filed required beneficial ownership reports.
Aims to increase transparency and monitor compliance with beneficial ownership disclosure rules, potentially impacting the business environment for small enterprises.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_7963
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2024-04-11
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Small Business Red Tape Relief Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7963.

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 2024-04-11.

What are the main provisions?

Key points include:

  • Mandates FinCEN to submit quarterly reports to Congress on the number of companies that have filed required beneficial ownership reports.
  • Aims to increase transparency and monitor compliance with beneficial ownership disclosure rules, potentially impacting the business environment for small enterprises.
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. Nunn, Zachary [R-IA-3].

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