118 S453 IS: Prohibiting IRS Financial Surveillance Act U.S. Senate 2023-02-15 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.

II118th CONGRESS1st SessionS. 453IN THE SENATE OF THE UNITED STATESFebruary 15, 2023Mr. Scott of South Carolina (for himself, Mr. Crapo, Mr. Barrasso, Mr. Braun, Mr. Cornyn, Mr. Cruz, Mr. Grassley, Mr. Kennedy, Mr. Marshall, Mr. Rounds, Mr. Wicker, Mrs. Blackburn, Mr. Cassidy, Mr. Cotton, Mr. Daines, Mr. Hagerty, Mr. Lankford, Mr. Paul, Mr. Scott of Florida, Mr. Vance, Mr. Boozman, Ms. Collins, Mr. Graham, Mr. Hoeven, Ms. Lummis, Mr. Risch, Mr. Young, Mr. Thune, Mr. Moran, Ms. Ernst, and Mr. Johnson) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA 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

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.