Text of Senate Amendment 6239

On 2026-06-24, Senator John Kennedy (R-LA) delivered a floor speech titled "Text Of Senate Amendment 6239" in the Senate.

Text of Senate Amendment 6239

Congressional Record, Volume 172 Issue 106 (Wednesday, June 24, 2026) [Congressional Record Volume 172, Number 106 (Wednesday, June 24, 2026)] [Senate] [Pages S3404-S3405] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 6239. Mr. KENNEDY submitted an amendment intended to be proposed by him to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. _____. BENEFICIAL OWNERSHIP INFORMATION REPORTING REQUIREMENTS. (a) In General.--Section 5336 of title 31, United States Code-- (1) in subsection (a)-- (A) by striking paragraph (2) and inserting the following: ``(2) Applicant.--The term `applicant' means any individual who registers or files an application to register a corporation, limited liability company, or other similar entity formed under the laws of a foreign country to do business in the United States by filing a document with the secretary of state or similar office under the laws of a State or Indian Tribe.''; (B) in paragraph (3)(B)-- (i) in clause (iv), by striking ``or'' at the end; (ii) in clause (v), by striking the period at the end and inserting ``; or''; and (iii) by adding at the end the following: ``(vi) any United States person.''; and (C) in paragraph (11), by striking subparagraph (A) and inserting the following: ``(A) means a corporation, limited liability company, or other similar entity that is-- ``(i) formed under the law of a foreign country; and ``(ii) registered to do business in the United States by the filing of a document with a secretary of state or a similar office under the laws of a State or Indian Tribe; and''; and (2) in subsection (b)(2)(A)(iv)-- (A) in subclause (I), by striking ``or'' at the end; (B) in subclause (II), by striking the period at the end and inserting a semicolon; and (C) by adding at the end the following: ``(III) the foreign jurisdiction of formation of the reporting company; or ``(IV) the State or tribal jurisdiction where the reporting company first registers.''. (b) Exemptions.-- (1) Definitions.--In this subsection, the terms ``beneficial owner'', ``reporting company'', and ``United States person'' have the meanings given the terms in section 5336 of title 31, United States Code. [[Page S3405]] (2) Exemptions.--Notwithstanding any other provision of law-- (A) no reporting company shall be required to report the beneficial ownership information of any United States person who is a beneficial owner; and (B) no United States person shall be required to provide beneficial ownership information with respect to any reporting company for which they are a beneficial owner. (c) Deletion of Information.-- (1) In general.--Not later than 90 days after the date of enactment of this Act, the Financial Crimes Enforcement Network of the Department of Treasury shall delete all beneficial ownership information of any United States person. (2) Retention.--The Financial Crimes Enforcement Network may maintain any beneficial ownership information relating to any person that is not a United States person. ______