I 
119TH CONGRESS 
1ST SESSION 
H. R. 324 
To provide for the collection and sharing of information, including tax return 
information, for purposes of criminal investigations with respect to loans 
under the Paycheck Protection Program. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 9, 2025 
Mr. TIMMONS introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on Small 
Business, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To provide for the collection and sharing of information, 
including tax return information, for purposes of criminal 
investigations with respect to loans under the Paycheck 
Protection Program. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘PPP Shell Company 
Discovery Act’’. 
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SEC. 2. COLLECTION AND SHARING OF INFORMATION FOR 
CRIMINAL INVESTIGATIONS WITH RESPECT 
TO LOANS UNDER THE PAYCHECK PROTEC-
TION PROGRAM. 
(a) LIST OF LOAN RECIPIENTS.—The Secretary of 
the Treasury or the Secretary’s delegate (hereafter in this 
section referred to as ‘‘the Secretary’’), after consultation 
with the Administrator of the Small Business Administra-
tion, the Pandemic Response Accountability Committee, 
and such other persons as the Secretary determines appro-
priate, shall compile a list of the persons who received 
PPP loans. Such list shall include the name, mailing ad-
dress, and taxpayer identifying number (within the mean-
ing of section 6109 of the Internal Revenue Code of 1986) 
of, and aggregate amount of PPP loans received by, each 
such person. The Secretary shall make all information in-
cluded on such list available to officers and employees of 
the Internal Revenue Service and the Department of Jus-
tice. 
(b) CREATION
OF LISTS
OF LOAN RECIPIENTS 
BASED ON CERTAIN PAYROLL TAX INFORMATION.— 
(1) LIST OF LOAN RECIPIENTS WITH NO FICA 
TAX WITHHOLDING.—The Commissioner of Internal 
Revenue shall create a list of PPP loan recipients 
(including the information described in subsection 
(a) with respect to each such recipient) which did 
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not deduct and withhold any tax under section 3102 
of the Internal Revenue Code of 1986 during cal-
endar year 2019. 
(2) LIST OF LOAN RECIPIENTS WITH LARGE 
PPP LOANS RELATIVE TO FICA WAGES.—The Com-
missioner of Internal Revenue shall create a list of 
PPP loan recipients (including the information de-
scribed in subsection (a) with respect to each such 
recipient) with respect to whom the aggregate 
amount of PPP loans received by such person (as 
reported on the list described in subsection (a)) 
equals or exceeds the product of— 
(A) the greatest amount of wages (as de-
fined in section 3121(a) of the Internal Rev-
enue Code of 1986) for any calendar month 
during 2019 with respect to which tax was paid 
by such person under section 3111 of such 
Code, multiplied by 
(B) 4. 
(3) NOTIFICATION OF LIST COMPLETION.—The 
Commissioner of Internal Revenue shall notify the 
Attorney General and the Secretary of the Treasury 
when each list described in paragraphs (1) and (2) 
has been completed. 
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(4) AUTHORITY TO DISCLOSE LISTS FOR USE IN 
CRIMINAL INVESTIGATIONS.—For authority and pro-
cedure for disclosure of return information for use 
in criminal investigations, see section 6103(i)(1) of 
the Internal Revenue Code of 1986. 
(c) DEFINITIONS.—For purposes of this section— 
(1) PPP LOANS.—The term ‘‘PPP loan’’ means 
a covered loan made under paragraph (36) or (37) 
of section 7(a) of the Small Business Act (15 U.S.C. 
636(a)) that was forgiven under such paragraph 
(37) or section 7A of such Act (15 U.S.C. 636m). 
(2) PPP LOAN RECIPIENT.—The term ‘‘PPP 
loan recipient’’ means any person included on the 
list compiled by the Secretary under subsection (a). 
Æ 
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