US Congress House Bill 2513 (Prior Session Legislation)

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Spectrum: Strong Partisan Bill (Democrat 10-1)
Status: Engrossed on October 23 2019 - 50% progression, died in committee
Action: 2019-10-23 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Engrossed) [PDF]

Generally addresses the disclosure of corporate ownership and the prevention of money laundering and the financing of terrorism. DIVISION A--CORPORATE TRANSPARENCY ACT OF 2019 Corporate Transparency Act of 2019 This division requires certain new and existing small corporations and limited liability companies to disclose information about their beneficial owners. A beneficial owner is an individual who (1) exercises substantial control over a corporation or limited liability company, (2) owns 25% or more of the interest in a corporation or limited liability company, or (3) receives substantial economic benefits from the assets of a corporation or limited liability company. Specifically, if certain entities apply to form a corporation or limited liability company, they must file beneficial ownership information with the Financial Crimes Enforcement Network (FinCEN). Furthermore, certain existing corporations and limited liability companies must file this information with FinCEN two years after the implementation of final regulations required under this division. The division imposes a civil penalty and authorizes criminal penalties—a fine, a prison term for up to three years, or both—for providing false or fraudulent beneficial ownership information or for willfully failing to provide complete or updated beneficial ownership information. The Government Accountability Office must study and report on (1) the availability of beneficial ownership information for other legal entities (e.g., partnerships), and (2) the effectiveness of incorporation practices implemented under this division. DIVISION B--COUNTER ACT OF 2019 Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 or the COUNTER Act of 2019 This division generally revises requirements related to anti-money-laundering and counter-terrorism-financing laws. Among other things, the division establishes new offices within financial regulatory agencies related to privacy and civil liberties; creates programs within the Department of the Treasury to enable foreign and domestic outreach regarding these laws; allows for increased information sharing between law enforcement, financial institutions, and financial regulators; and revises whistleblower incentives related to actions brought by FinCEN. The division also increases penalties for violations of anti-money-laundering and counter-terrorism-financing laws, requires antiquities dealers to comply with these laws, and requires the reporting of beneficial ownership information to FinCEN in certain commercial real estate transactions. Every five years, Treasury must update the threshold amounts for currency transaction reports to reflect inflation.

Corporate Transparency Act of 2019

Rep. Carolyn Maloney [D-NY]	Rep. Peter King [R-NY]	Rep. Tom Malinowski [D-NJ]	Rep. Don Beyer [D-VA]
Rep. Jim Cooper [D-TN]	Rep. Alcee Hastings [D-FL]	Rep. Gregory Meeks [D-NY]	Rep. Emanuel Cleaver [D-MO]
Rep. Marcy Kaptur [D-OH]	Rep. Lisa Rochester [D-DE]	Rep. Brad Sherman [D-CA]

2019-10-22 - House - On passage RC# 577 (Y: 249 N: 173 NV: 9 Abs: 0) [PASS]
2019-10-22 - House - On motion to recommit with instructions RC# 576 (Y: 197 N: 224 NV: 10 Abs: 0) [FAIL]
2019-10-22 - House - On agreeing to the Davidson (OH) amendment (A005) H.Amdt.637 RC# 575 (Y: 166 N: 258 NV: 13 Abs: 0) [FAIL]
2019-10-22 - House - On agreeing to the Maloney, Carolyn B. amendment (A004) H.Amdt.636 RC# 574 (Y: 235 N: 188 NV: 14 Abs: 0) [PASS]
2019-10-22 - House - On agreeing to the Burgess amendment (A001) H.Amdt.633 RC# 573 (Y: 395 N: 23 NV: 19 Abs: 0) [PASS]

Date	Chamber	Action
2019-10-23	Senate	Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2019-10-22	House	Motion to reconsider laid on the table Agreed to without objection.
2019-10-22	House	On passage Passed by the Yeas and Nays: 249 - 173 (Roll no. 577).
2019-10-22	House	On motion to recommit with instructions Failed by recorded vote: 197 - 224 (Roll no. 576).
2019-10-22	House	The previous question on the motion to recommit with instructions was ordered without objection.
2019-10-22	House	DEBATE - The House proceeded with 10 minutes on the Davidson (OH) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to require a court-issued subpoena for specified requests in the underlying bill.
2019-10-22	House	Mr. Davidson (OH) moved to recommit with instructions to the Committee on Financial Services. (text: CR H8368)
2019-10-22	House	The House adopted the amendments en gross as agreed to by the Committee of the Whole House on the state of the Union.
2019-10-22	House	The House rose from the Committee of the Whole House on the state of the Union to report H.R. 2513.
2019-10-22	House	H.Amdt.637 On agreeing to the Davidson (OH) amendment (A005) Failed by recorded vote: 166 - 258 (Roll no. 575).
2019-10-22	House	H.Amdt.636 On agreeing to the Maloney, Carolyn B. amendment (A004) Agreed to by recorded vote: 235 - 188 (Roll no. 574).
2019-10-22	House	H.Amdt.633 On agreeing to the Burgess amendment (A001) Agreed to by recorded vote: 395 - 23 (Roll no. 573).
2019-10-22	House	The House resolved into Committee of the Whole House on the state of the Union for further consideration.
2019-10-22	House	Considered as unfinished business. (consideration: CR H8365-8370)
2019-10-22	House	Committee of the Whole House on the state of the Union rises leaving H.R. 2513 as unfinished business.
2019-10-22	House	On motion that the Committee rise Agreed to by voice vote.
2019-10-22	House	Ms. Waters moved that the Committee rise.
2019-10-22	House	POSTPONED PROCEEDINGS - At the conclusion of debate on the Davidson (OH) amendment, the Chair put the question on adoption of the amendment, and by voice vote announced that the noes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings on adoption of the amendment until a time to be announced.
2019-10-22	House	DEBATE - Pursuant to the provisions of H. Res. 646, the Committee of the Whole proceeded with 10 minutes of debate on the Davidson (OH) amendment No. 5.
2019-10-22	House	H.Amdt.637 Amendment (A005) offered by Mr. Davidson (OH). (consideration: CR H8338-8339, H8367-8368; text: CR H8338)
2019-10-22	House	POSTPONED PROCEEDINGS - At the conclusion of debate on the Carolyn B. Maloney (NY) amendment, the Chair put the question on adoption of the amendment, and by voice vote announced that the ayes had prevailed. Mr. McHenry demanded a recorded vote, and the Chair postponed further proceedings on adoption of the amendment until a time to be announced.
2019-10-22	House	DEBATE - Pursuant to the provisions of H. Res. 646, the Committee of the Whole proceeded with 10 minutes of debate on the Carolyn B. Maloney (NY) amendment No. 4.
2019-10-22	House	H.Amdt.636 Amendment (A004) offered by Mrs. Maloney, Carolyn B.. (consideration: CR H8337-8338, H8366-8367; text: CR H8337)
2019-10-22	House	H.Amdt.635 On agreeing to the Brown (MD) amendment (A003) Agreed to by voice vote.
2019-10-22	House	DEBATE - Pursuant to the provisions of H. Res. 646, the Committee of the Whole proceeded with 10 minutes of debate on the Brown (MD) amendment No. 3.
2019-10-22	House	H.Amdt.635 Amendment (A003) offered by Mr. Brown (MD). (consideration: CR H8336-8337; text: CR H8336)
2019-10-22	House	H.Amdt.634 On agreeing to the Hill (AR) amendment (A002) Agreed to by voice vote.
2019-10-22	House	DEBATE - Pursuant to the provisions of H. Res. 646, the Committee of the Whole proceeded with 10 minutes of debate on the Hill (AR) amendment No. 2.
2019-10-22	House	H.Amdt.634 Amendment (A002) offered by Mr. Hill (AR). (consideration: CR H8335-8336; text: CR H8335)
2019-10-22	House	POSTPONED PROCEEDINGS - At the conclusion of debate on the Burgess amendment, the Chair put the question on adoption of the amendment, and by voice vote announced that the ayes had prevailed. Ms. Waters demanded a recorded vote, and the Chair postponed further proceedings on adoption of the amendment until a time to be announced.
2019-10-22	House	DEBATE - Pursuant to the provisions of H.Res. 646, the Committee of the Whole proceeded with 10 minutes of debate on the Burgess amendment No. 1.
2019-10-22	House	H.Amdt.633 Amendment (A001) offered by Mr. Burgess. (consideration: CR H8335, H8366; text: CR H8335)
2019-10-22	House	GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 2513.
2019-10-22	House	The Speaker designated the Honorable Lauren Underwood to act as Chairwoman of the Committee.
2019-10-22	House	House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 646 and Rule XVIII.
2019-10-22	House	Rule provides for consideration of H.R. 2513 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. Specified amendments are in order.
2019-10-22	House	Considered under the provisions of rule H. Res. 646. (consideration: CR H8316-8339)
2019-10-22	House	Rule H. Res. 646 passed House.
2019-10-21	House	Rules Committee Resolution H. Res. 646 Reported to House. Rule provides for consideration of H.R. 2513 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. Specified amendments are in order.
2019-10-08	House	Placed on the Union Calendar, Calendar No. 180.
2019-10-08	House	Reported (Amended) by the Committee on Financial Services. H. Rept. 116-227.
2019-06-11	House	Ordered to be Reported (Amended) by the Yeas and Nays: 43 - 16.
2019-06-11	House	Committee Consideration and Mark-up Session Held.
2019-05-03	House	Referred to the House Committee on Financial Services.
2019-05-03	House	Introduced in House

SB1978 (Related) 2019-06-26 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HR646 (Related) 2019-10-22 - Motion to reconsider laid on the table Agreed to without objection.
HB1039 (Related) 2019-02-07 - Referred to the House Committee on Financial Services.
HB2514 (Related) 2019-10-29 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB2613 (Related) 2019-09-23 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB4367 (Related) 2019-09-17 - Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/2513/all-info
Text	https://www.congress.gov/116/bills/hr2513/BILLS-116hr2513ih.pdf
Text	https://www.congress.gov/116/bills/hr2513/BILLS-116hr2513rh.pdf
Text	https://www.congress.gov/116/bills/hr2513/BILLS-116hr2513eh.pdf
Roll Call	https://clerk.house.gov/Votes/2019573
Roll Call	https://clerk.house.gov/Votes/2019574
Roll Call	https://clerk.house.gov/Votes/2019575
Roll Call	https://clerk.house.gov/Votes/2019576
Roll Call	https://clerk.house.gov/Votes/2019577