Title: A bill to institute a program for the disclosure of taxpayer information for third-party income verification through the Internet.
Policy area: Taxation

Summary:
This bill requires the Internal Revenue Service (IRS) to implement a program to ensure that certain disclosures of tax returns or return information for third-party income verification are (1) fully automated and accomplished through the Internet, and (2) accomplished in as close to real-time as is practicable.
The requirement applies to IRS disclosures of returns or return information to a person verifying the income or creditworthiness of a taxpayer who is a borrower in the process of a loan application.
In implementing the program, the IRS must (1) ensure that the program complies with applicable security standards and guidelines; and (2) assess and collect a fee for the disclosures at rates that are sufficient to cover the costs related to implementing the program, including the costs of necessary infrastructure or technology.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 1100 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 1100

 To institute a program for the disclosure of taxpayer information for 
         third-party income verification through the Internet.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 9, 2019

 Mr. Booker (for himself, Mr. Scott of South Carolina, Ms. Hassan, and 
  Mr. Young) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To institute a program for the disclosure of taxpayer information for 
         third-party income verification through the Internet.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. DISCLOSURE OF TAXPAYER INFORMATION FOR THIRD-PARTY INCOME 
              VERIFICATION.

    (a) In General.--Not later than 1 year after the close of the 2-
year period described in subsection (d)(1), the Secretary of the 
Treasury or the Secretary's delegate (hereafter referred to in this 
section as the ``Secretary'') shall implement a program to ensure that 
any qualified disclosure--
            (1) is fully automated and accomplished through the 
        Internet; and
            (2) is accomplished in as close to real-time as is 
        practicable.
    (b) Qualified Disclosure.--For purposes of this section, the term 
``qualified disclosure'' means a disclosure under section 6103(c) of 
the Internal Revenue Code of 1986 of returns or return information by 
the Secretary to a person seeking to verify the income or 
creditworthiness of a taxpayer who is a borrower in the process of a 
loan application.
    (c) Application of Security Standards.--The Secretary shall ensure 
that the program described in subsection (a) complies with applicable 
security standards and guidelines.
    (d) User Fee.--
            (1) In general.--During the 2-year period beginning on the 
        first day of the 6th calendar month beginning after the date of 
        the enactment of this Act, the Secretary shall assess and 
        collect a fee for qualified disclosures (in addition to any 
        other fee assessed and collected for such disclosures) at such 
        rates as the Secretary determines are sufficient to cover the 
        costs related to implementing the program described in 
        subsection (a), including the costs of any necessary 
        infrastructure or technology.
            (2) Deposit of collections.--Amounts received from fees 
        assessed and collected under paragraph (1) shall be deposited 
        in, and credited to, an account solely for the purpose of 
        carrying out the activities described in subsection (a). Such 
        amounts shall be available to carry out such activities without 
        need of further appropriation and without fiscal year 
        limitation.
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