[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 2623 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 2623

  To require the Secretary of the Treasury to harmonize the effective 
 dates of all rules that the Secretary is required to issue under the 
          Corporate Transparency Act, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                             July 27, 2023

  Mr. Rounds introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

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                                 A BILL


 
  To require the Secretary of the Treasury to harmonize the effective 
 dates of all rules that the Secretary is required to issue under the 
          Corporate Transparency Act, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting Small Business 
Information Act of 2023''.

SEC. 2. HARMONIZING BENEFICIAL OWNERSHIP RULEMAKING EFFECTIVE DATES.

    (a) In General.--In issuing the rules that the Secretary of the 
Treasury is required to issue under the Corporate Transparency Act 
(title LXIV of division F of Public Law 116-283) (including under the 
amendments made by that Act), the Secretary shall ensure that all such 
rules take effect on the same date.
    (b) Delay of Effective Dates.--A final rule issued by the Secretary 
of the Treasury under the Corporate Transparency Act (title LXIV of 
division F of Public Law 116-283) (or under any amendment made by that 
Act), including the final rule issued by the Secretary of the Treasury 
entitled ``Beneficial Ownership Information Reporting Requirements'' 
(87 Fed. Reg. 59498; published September 30, 2022), shall not take 
effect until after the date on which the Secretary of the Treasury 
certifies to Congress, and makes that certification available to the 
public, that--
            (1) all final rules that the Secretary is required to issue 
        under that Act (including under the amendments made by that 
        Act) have been issued by the Secretary; and
            (2) all final rules described in paragraph (1) will take 
        effect on the same date.
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