Section 1 Short title
This Act may be cited as the “Small Business Red Tape Relief Act of 2024”.
Small Business Red Tape Relief Act of 2024
A BILL
To amend title 31, United States Code, to require FinCEN to submit to Congress a quarterly report on certain beneficial ownership data.
Sec. 2 Quarterly report on certain beneficial ownership data
Section 5336(b) of title 31, United States Code, is amended by adding at the end the following:
“(7) Quarterly report on certain beneficial ownership data—With respect to the first quarter that begins after the date of the enactment of this paragraph, and each quarter thereafter, the Director shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that includes, with respect to the period covered by the report—
“(A) the number of reporting companies described in paragraph (1)(B) that submitted a report required under this subsection;
“(B) the number of reporting companies described in paragraph (1)(C) that submitted a report required under this subsection; and
“(C) the number of reporting companies that submitted a report required under paragraph (1)(D).”