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Repealing Corporate Transparency Act: Less Reporting Burden for Businesses.

This bill proposes to completely repeal the Corporate Transparency Act (CTA). If passed, millions of business owners would no longer be required to report detailed information about the individuals who ultimately own or control their companies to the federal government (FinCEN). This change aims to reduce administrative burdens and increase privacy for those operating businesses.
Key points
Eliminates the requirement for businesses to report beneficial ownership information to the FinCEN agency.
Reduces paperwork and compliance obligations for millions of American companies.
article Official text account_balance Process page
Expired
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No votes cast
Additional Information
Print number: 118_HR_8147
Sponsor: Rep. Davidson, Warren [R-OH-8]
Process start date: 2024-04-29
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Repealing Big Brother Overreach Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8147.

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 2024-04-29.

What are the main provisions?

Key points include:

  • Eliminates the requirement for businesses to report beneficial ownership information to the FinCEN agency.
  • Reduces paperwork and compliance obligations for millions of American companies.
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. Davidson, Warren [R-OH-8].

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