S. 3455

Prohibiting IRS Financial Surveillance Act

Latest
Raw Text PDF XML

II

Calendar No. 235

117th CONGRESS

2d Session

S. 3455

IN THE SENATE OF THE UNITED STATES

January 10, 2022

Mr. Scott of South Carolina introduced the following bill; which was read the first time

January 18, 2022

Read the second time and placed on the calendar

A BILL

To prohibit the implementation of new requirements to report bank account deposits and withdrawals.

1.

Short title

This Act may be cited as the Prohibiting IRS Financial Surveillance Act.

2.

Prohibition on new requirements to report bank account deposits and withdrawals

(a)

In general

The Secretary of the Treasury (including any delegate of the Secretary) may not require any financial institution to report—

(1)

the inflows or outflows of any account maintained by such institution, or

(2)

any balances, transactions, transfers, or similar information with respect to any such account,

except to the extent that such reporting is required under any program, or other provision of law, as in effect on the date of the enactment of this Act.
(b)

Effective date

The provisions of this section shall take effect on the day after the date of enactment of this Act.

January 18, 2022

Read the second time and placed on the calendar