Govwatch

Introduced

In Committee

3

Passed One Chamber

4

Passed Both

5

Signed into Law

Sponsor

Warren Davidson

Republican · OH · Representative

Votes with party: 90.5% (566 recorded votes)

Full profile: /officials/D000626

Source: Congress.gov · FEC

Cosponsors (193)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Placed on the Union Calendar, Calendar No. 609.

2026-06-18

Source: Congress.gov

Committee Activity

Currently in

House Committee on Financial ServicesReported By · 2026-06-18

Previously

House Committee on Financial ServicesMarkup By · 2026-04-21
Financial Services CommitteeMarkup By · 2026-04-21
House Committee on Financial ServicesReferred To · 2025-01-15
Financial Services CommitteeReferred To · 2025-01-15

Plain-English Summary

Repealing Big Brother Overreach Act This bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 425 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 425 To repeal the Corporate Transparency Act. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 15, 2025 Mr. Davidson (for himself, Mr. Balderson, Mr. Bergman, Mr. Biggs of Arizona, Mr. Buchanan, Mr. Burlison, Mrs. Cammack, Mr. Ciscomani, Mr. Cloud, Mr. Clyde, Mr. Crane, Mr. Dunn of Florida, Mr. Edwards, Mr. Ellzey, Mr. Estes, Mr. Ezell, Mr. Finstad, Mrs. Fischbach, Mr. Fleischmann, Ms. Foxx, Mr. Fulcher, Mr. Graves, Ms. Greene of Georgia, Mr. Grothman, Mr. Guest, Ms. Hageman, Mr. Hern of Oklahoma, Mrs. Houchin, Mr. Hudson, Mr. Johnson of South Dakota, Mr. LaHood, Mr. Langworthy, Ms. Lee of Florida, Ms. Mace, Mr. Moolenaar, Mr. Moore of Alabama, Mr. Norman, Mr. Ogles, Mr. Perry, Mr. Pfluger, Mr. Rose, Mr. Rouzer, Mr. Roy, Mr. Rulli, Mr. Schweikert, Mr. Smith of Missouri, Mr. Smith of Nebraska, Mr. Stauber, Ms. Tenney, Mr. Thompson of Pennsylvania, Mr. Tiffany, Ms. Van Duyne, Mr. Weber of Texas, Mr. Zinke, Mr. Collins, Mr. Bost, Mr. Kelly of Mississippi, Mr. Scott Franklin of Florida, Mr. Bean of Florida, Mr. Stutzman, Mr. Taylor, Mr. Barrett, Mr. Downing, Mr. Gill of Texas, Mr. Yakym, Mr. Van Orden, Mrs. Bice, Mr. Onder, and Mr. Griffith) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To repeal the Corporate Transparency Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Repealing Big Brother Overreach Act''. SEC. 2. REPEAL. (a) In General.--The Corporate Transparency Act (title LXIV of division F of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283; 134 Stat. 4604)) and the amendments made by that Act are repealed. (b) Technical and Conforming Amendments.-- (1) Title 31, United States Code, is amended-- (A) in section 5321(a)-- (i) in paragraph (1), by striking ``sections 5314, 5315, and 5336'' each place the term appears and inserting ``sections 5314 and 5315''; and (ii) in paragraph (6), by striking ``(except section 5336)'' each place the term appears; and (B) in section 5322, by striking ``section 5315, 5324, or 5336'' each place the term appears and inserting ``section 5315 or 5324''. (2) Title LXV of the Anti-Money Laundering Act of 2020 (division F of the of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116- 283; 134 Stat. 4604)) is amended-- (A) by repealing section 6502 (134 Stat. 4626); and (B) in section 6509 (134 Stat. 4633)-- (i) by striking ``(a) In General.-- Subsection (l)'' and inserting ``Subsection (l)''; and (ii) by striking subsection (b). <all>

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