What does Preamble of HR 425 do?

This bill is formally titled 'To repeal the Corporate Transparency Act'. The bill was introduced in the House of Representatives on January 15, 2025.

What does SHORT TITLE. of HR 425 do?

This bill is formally titled the 'Repealing Big Brother Overreach Act'.

What does REPEAL. of HR 425 do?

This section repeals the Corporate Transparency Act (title LXIV of division F of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021). The repeal also includes amendments made by the Corporate Transparency Act. Title 31 of the United States Code is amended to remove references to sections 5336 in specific paragraphs. Section 6502 of Title LXV of the Anti-Money Laundering Act of 2020 is repealed. Subsection (b) of section 6509 in Title LXV of the Anti-Money Laundering Act of 2020 is struck.

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Repealing Big Brother Overreach Act — HR. 425

Last updated: 1/15/2025 · Introduced: 1/15/2025

Author: Warren Davidson (R-OH)

TL;DR (AI)

This bill repeals the Corporate Transparency Act, which required businesses to disclose their beneficial owners to the Financial Crimes Enforcement Network.
The repeal removes related sections from Title 31 of the United States Code and sections of the Anti-Money Laundering Act of 2020.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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