S.Amdt. 6605

This amendment's own text couldn't be picked out of its Congressional Record passage, so the passage is shown in full.

SA 6605. Mr. HAGERTY submitted an amendment intended to be proposed
     by him to the bill H.R. 2617, to amend section 1115 of title 31, United
     States Code, to amend the description of how performance goals are
     achieved, and for other purposes; which was ordered to lie on the
     table; as follows:

            At the end, add the following:

            DIVISION KK--REPORTING OF THIRD PARTY NETWORK TRANSACTIONS

          SEC. 1. SHORT TITLE.

            This division may be cited as the ``Stop the Nosy Obsession
          with Online Payments Act of 2022'' or the ``SNOOP Act of
          2022''.

          SEC. 2. REPEAL OF MODIFICATION OF EXCEPTIONS FOR REPORTING OF
                        THIRD PARTY NETWORK TRANSACTIONS.

            (a) In General.--Section 6050W(e) of the Internal Revenue
          Code of 1986 is amended to read as follows:
            ``(e) Exception for De Minimis Payments by Third Party
          Settlement Organizations.--A third party settlement
          organization shall be required to report any information
          under subsection (a) with respect to third party network
          transactions of any participating payee only if--
            ``(1) the amount which would otherwise be reported under
          subsection (a)(2) with respect to such transactions exceeds
          $20,000, and
            ``(2) the aggregate number of such transactions exceeds
          200.''.
            (b) Conforming Amendment.--Section 6050W(c)(3) of the
          Internal Revenue Code of 1986 is amended by striking
          ``described in subsection (d)(3)(A)(iii)''.
            (c) Effective Date.--
            (1) In general.--The amendment made by subsection (a) shall
          apply to returns for calendar years beginning after December
          31, 2021.
            (2) Clarification.--The amendment made by subsection (b)
          shall apply to transactions after the date of the enactment
          of the American Rescue Plan Act of 2021.
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