H.R. 4450: Incorporation Transparency and Law Enforcement Assistance Act

Introduced:

Feb 3, 2016

Status:

Referred to Committee on Feb 3, 2016

This bill was assigned to a congressional committee on February 3, 2016, which will consider it before possibly sending it on to the House or Senate as a whole.

Sponsor:

Carolyn Maloney

Representative for New York's 12th congressional district

Democrat

Text:

Read Text »
Last Updated: Feb 3, 2016
Length: 36 pages

Prognosis:

2% chance of being enacted (details)

About the bill

Full Title

To amend title 31, United States Code, to ensure that persons who form corporations or limited liability companies in the United States disclose the beneficial owners of those corporations or limited liability companies, in order to prevent wrongdoers from exploiting United States corporations and limited liability companies for criminal gain, to assist law enforcement in detecting, preventing, and punishing terrorism, money laundering, and other misconduct involving United States corporations and limited liability companies, and for other purposes.

The bill’s titles are written by its sponsor.

Summary

Last month’s bombshell journalism investigation nicknamed the Panama Papers, by some measures the largest leak in history at 11.5 million files, renewed focus and outcry over offshore accounts. Through “shell corporations,” companies that in reality are almost entirely based in one country or U.S. state with higher tax rates are officially registered in another country or state ...

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History

Feb 3, 2016
 
Introduced

This is the first step in the legislative process.

 
Reported by Committee

 
Passed House

 
Passed Senate

 
Signed by the President

This page is about a bill in the United States Congress. A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Links & tools

Primary Source

Congress.gov

Congress.gov is updated generally one day after events occur. Legislative activity since the last update may not be reflected on GovTrack. Data via congress project.

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