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S. 453: Prohibiting IRS Financial Surveillance Act

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The text of the bill below is as of Feb 15, 2023 (Introduced).

II

118th CONGRESS

1st Session

S. 453

IN THE SENATE OF THE UNITED STATES

February 15, 2023

(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 Affairs

A BILL

To 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.