117 S3455 PCS: Prohibiting IRS Financial Surveillance Act U.S. Senate text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

IICalendar No. 235117th CONGRESS2d SessionS. 3455IN THE SENATE OF THE UNITED STATESJanuary 10, 2022Mr. Scott of South Carolina introduced the following bill; which was read the first timeJanuary 18, 2022Read the second time and placed on the calendarA BILLTo prohibit the implementation of new requirements to report bank account deposits and withdrawals.

1.

Short title

This Act may be cited as the Prohibiting IRS Financial Surveillance Act.

2.

Prohibition on new requirements to report bank account deposits and withdrawals

(a)

In general

The Secretary of the Treasury (including any delegate of the Secretary) may not require any financial institution to report—(1)the inflows or outflows of any account maintained by such institution, or(2)any balances, transactions, transfers, or similar information with respect to any such account,except to the extent that such reporting is required under any program, or other provision of law, as in effect on the date of the enactment of this Act.(b)

Effective date

The provisions of this section shall take effect on the day after the date of enactment of this Act.

January 18, 2022Read the second time and placed on the calendar