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H.R. 2513: Corporate Transparency Act of 2019

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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.

Sponsor and status

Carolyn Maloney

Sponsor. Representative for New York's 12th congressional district. Democrat.

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Last Updated: Oct 23, 2019
Length: 101 pages
Introduced
May 3, 2019
Status

Passed House (Senate next) on Oct 22, 2019

This bill passed in the House on October 22, 2019 and goes to the Senate next for consideration.

Prognosis
56% chance of being enacted according to Skopos Labs (details)
Source

Position statements

What legislators are saying

House Passes Maloney Bill to Crack Down on Anonymous Shell Companies
    — Rep. Carolyn Maloney [D-NY12] (Sponsor) on Oct 22, 2019

Congressman Cleaver's Anti-Money Laundering Bill Passes House of Representatives
    — Rep. Emanuel Cleaver [D-MO5] (Co-sponsor) on Oct 22, 2019

Burgess Works to Stop Drug Cartels
    — Rep. Michael Burgess [R-TX26] on Oct 22, 2019

More statements at ProPublica Represent...

What stakeholders are saying

Institute for Spending Reform SpendingTracker.org estimates H.R. 2513 will add $132 million in new spending through 2024.
American Bar Association Here are links to letters of opposition from other organizations across the ideological spectrum, all of which oppose the passage of H.R. 2513, including the ACLU, NACDL, Due Process Institute, FreedomWorks, the NFIB, and twenty-two other small business groups.
Financial Accountability and Corporate Transparency (FACT) Coalition We, the undersigned organizations, write to express our strong support for your bipartisan Corporate Transparency Act of 2019 (H.R. 2513), which would require companies to disclose information about the real people who own or control them (often called the “beneficial owners”) ...

History

May 3, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

May 8, 2019
 
Considered by House Committee on Financial Services

A committee held a hearing or business meeting about the bill.

Jun 11, 2019
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Oct 8, 2019
 
Reported by House Committee on Financial Services

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Oct 15, 2019
 
On House Schedule

The House indicated that this bill would be considered in the week ahead.

Oct 22, 2019
 
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next.

If this bill has further action, the following steps may occur next:
 
Passed Senate

 
Signed by the President

H.R. 2513 is 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.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 2513 — 116th Congress: Corporate Transparency Act of 2019.” www.GovTrack.us. 2019. December 7, 2019 <https://www.govtrack.us/congress/bills/116/hr2513>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.