[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 425 Reported in House (RH)]
<DOC>
Union Calendar No. 609
119th CONGRESS
2d Session
H. R. 425
[Report No. 119-701]
To repeal the Corporate Transparency Act.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 15, 2025
Mr. Davidson (for himself, Mr. Balderson, Mr. Bergman, Mr. Biggs of
Arizona, Mr. Buchanan, Mr. Burlison, Mrs. Cammack, Mr. Ciscomani, Mr.
Cloud, Mr. Clyde, Mr. Crane, Mr. Dunn of Florida, Mr. Edwards, Mr.
Ellzey, Mr. Estes, Mr. Ezell, Mr. Finstad, Mrs. Fischbach, Mr.
Fleischmann, Ms. Foxx, Mr. Fulcher, Mr. Graves, Ms. Greene of Georgia,
Mr. Grothman, Mr. Guest, Ms. Hageman, Mr. Hern of Oklahoma, Mrs.
Houchin, Mr. Hudson, Mr. Johnson of South Dakota, Mr. LaHood, Mr.
Langworthy, Ms. Lee of Florida, Ms. Mace, Mr. Moolenaar, Mr. Moore of
Alabama, Mr. Norman, Mr. Ogles, Mr. Perry, Mr. Pfluger, Mr. Rose, Mr.
Rouzer, Mr. Roy, Mr. Rulli, Mr. Schweikert, Mr. Smith of Missouri, Mr.
Smith of Nebraska, Mr. Stauber, Ms. Tenney, Mr. Thompson of
Pennsylvania, Mr. Tiffany, Ms. Van Duyne, Mr. Weber of Texas, Mr.
Zinke, Mr. Collins, Mr. Bost, Mr. Kelly of Mississippi, Mr. Scott
Franklin of Florida, Mr. Bean of Florida, Mr. Stutzman, Mr. Taylor, Mr.
Barrett, Mr. Downing, Mr. Gill of Texas, Mr. Yakym, Mr. Van Orden, Mrs.
Bice, Mr. Onder, and Mr. Griffith) introduced the following bill; which
was referred to the Committee on Financial Services
June 18, 2026
Additional sponsors: Mr. Murphy, Mrs. Harshbarger, Mr. Allen, Mr.
Begich, Mr. Schmidt, Mr. Cole, Mr. Self, Mr. Obernolte, Mr. Crank, Mr.
Fallon, Mr. Fry, Mr. Comer, Mr. Palmer, Mr. Bacon, Mr. Gosar, Mr.
Nehls, Mr. Webster of Florida, Mr. Kennedy of Utah, Mr. McGuire, Mr.
Bilirakis, Mr. Steube, Mrs. Miller-Meeks, Mrs. Kiggans of Virginia, Mr.
Strong, Mrs. Miller of West Virginia, Mr. Walberg, Mr. Nunn of Iowa,
Mr. Green of Tennessee, Mr. Higgins of Louisiana, Mrs. Hinson, Mr.
Goldman of Texas, Mr. Westerman, Mr. Miller of Ohio, Mr. DesJarlais,
Mr. Gooden, Mr. Moore of West Virginia, Mr. Newhouse, Mr. Moran, Mr.
Moore of North Carolina, Mr. Carter of Texas, Mr. Carey, Mr. Evans of
Colorado, Mr. Feenstra, Mr. Donalds, Mr. Shreve, Mr. Mills, Mr. Wied,
Ms. Malliotakis, Mr. Latta, Mr. Kelly of Pennsylvania, Mr. Carter of
Georgia, Mr. Valadao, Mr. Hunt, Mr. Smucker, Mr. Flood, Mr. Timmons,
Mrs. Fedorchak, Mr. Brecheen, Mr. Jackson of Texas, Mr. Alford, Mr.
Turner of Ohio, Mr. Amodei of Nevada, Mr. Baird, Mr. Hurd of Colorado,
Mr. Sessions, Mr. LaMalfa, Mr. Messmer, Mr. McCormick, Mr. McDowell,
Mr. Burchett, Mr. Tony Gonzales of Texas, Mr. Hamadeh of Arizona, Ms.
Maloy, Mrs. Miller of Illinois, Mr. Harris of Maryland, Mr. Bresnahan,
Mr. Jordan, Mr. Patronis, Mr. Harris of North Carolina, Mr. Owens, Ms.
Boebert, Mr. Jack, Mr. Kustoff, Mr. Simpson, Mr. Huizenga, Mr.
Arrington, Mr. Mackenzie, Mr. Wittman, Mr. Lawler, Mr. Barr, Mr. Rogers
of Kentucky, Mr. Fine, Mr. Joyce of Ohio, Mr. Joyce of Pennsylvania,
Mr. Mann, Ms. Letlow, Mr. Rogers of Alabama, Mr. Guthrie, Mr. Fong, Mr.
Babin, Mr. Aderholt, Mrs. Biggs of South Carolina, Mr. Cline, Mr.
McCaul, Mr. LaLota, Mr. Van Drew, Mr. Moore of Utah, Ms. Salazar, Mrs.
Luna, Ms. Stefanik, Mr. Wilson of South Carolina, Mr. Bentz, Mr.
Massie, Mr. Calvert, Mr. Kean, Mr. Baumgartner, Mr. Austin Scott of
Georgia, Mr. Issa, Mr. Meuser, Mr. Rutherford, Mr. Mast, Ms. De La
Cruz, Mr. Gimenez, Mr. Harrigan, and Mr. Knott
June 18, 2026
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed
in italic]
[For text of introduced bill, see copy of bill as introduced on January
15, 2025]
_______________________________________________________________________
A BILL
To repeal the Corporate Transparency Act.
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 ``Repealing Big Brother Overreach
Act''.
SEC. 2. BENEFICIAL OWNERSHIP INFORMATION REPORTING REQUIREMENTS.
(a) In General.--Section 5336 of title 31, United States Code, is
amended--
(1) by inserting ``foreign'' after ``Beneficial'' each
place such term appears in heading or text;
(2) by inserting ``foreign'' after ``beneficial'' each
place such term appears in heading or text (and conforming the
item relating to such section 5336 in the table of contents for
chapter 53 of title 31, United States Code, accordingly); and
(3) in subsection (a)--
(A) in paragraph (3)(A), by inserting after
``individual who'' the following: ``is a foreign person
and''; and
(B) in paragraph (11)(A), by striking ``that is''
and all that follows through ``(ii) formed'' and
inserting ``that is formed''.
(b) Deletion of Data Relating to Non-reporting Companies.--Not
later than 90 days after the date of enactment of this Act, the
Financial Crimes Enforcement Network shall delete all beneficial
ownership information collected pursuant to section 5336 of title 31,
United States Code, with respect to--
(1) any individual who is not a foreign beneficial owner
(as such term is defined under such section 5336); or
(2) a corporation, limited liability company, or other
similar entity that is not a reporting company (as such term is
defined under such section 5336).
Union Calendar No. 609
119th CONGRESS
2d Session
H. R. 425
[Report No. 119-701]
_______________________________________________________________________
A BILL
To repeal the Corporate Transparency Act.
_______________________________________________________________________
June 18, 2026
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed