Section 1 Short title
This Act may be cited as the “Community Association Reporting Exemption Act”.
Community Association Reporting Exemption Act
A BILL
To amend title 31, United States Code, to exempt entities subject to taxation under section 528 of the Internal Revenue Code of 1986 from certain beneficial ownership reporting requirements.
Sec. 2 Exemption
Section 5336(a)(11)(B)(xix) of title 31, United States Code, is amended—
in subclause (II), by striking “or” at the end;
in subclause (III), by adding “or” at the end; and
by adding at the end the following:
“(IV) entity subject to taxation under section 528 of the Internal Revenue Code of 1986;”