This proposed legislation, titled the "Repealing Big Brother Overreach Act," aims to completely repeal the Corporate Transparency Act . This Act, originally enacted as Title LXIV of Division F of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, established requirements for beneficial ownership information reporting. The bill explicitly repeals the entirety of the Corporate Transparency Act and all amendments it previously made. It also includes necessary technical and conforming amendments to Title 31 of the United States Code and Title LXV of the Anti-Money Laundering Act of 2020, ensuring that all references and related provisions are removed following the repeal.
This proposed legislation, titled the "Repealing Big Brother Overreach Act," aims to completely repeal the Corporate Transparency Act . This Act, originally enacted as Title LXIV of Division F of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, established requirements for beneficial ownership information reporting. The bill explicitly repeals the entirety of the Corporate Transparency Act and all amendments it previously made. It also includes necessary technical and conforming amendments to Title 31 of the United States Code and Title LXV of the Anti-Money Laundering Act of 2020, ensuring that all references and related provisions are removed following the repeal.