A bill to repeal the provisions of the Infrastructure Investment and Jobs Act that impose new information reporting requirements with respect to digital asset transfers.

Bill: 118-s-695
Sponsor: full_name: Sen. Cruz, Ted [R-TX]
Introduced: 2023-03-08
Policy area: Taxation
Latest action: action_date: 2023-03-08
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2023-03-08
action_desc: Introduced in Senate
text: <p>This bill repeals provisions of the Infrastructure Investment and Jobs Act with respect to the definition of<em> broker </em>and reporting requirements for digital assets.</p>

tv_txt: II 118th CONGRESS 1st Session S. 695 IN THE SENATE OF THE UNITED STATES March 8, 2023 Mr. Cruz introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To repeal the provisions of the Infrastructure Investment and Jobs Act that impose new information reporting requirements with respect to digital asset transfers.

1. Repeal of new information reporting requirements with respect to digital asset transfers (a) In general The amendments made by section 80603 of the Infrastructure Investment and Jobs Act are repealed and the provisions of law amended by such section are restored as if such section had never been enacted. (b) Effective date The repeal made by subsection (a) shall take effect on the date of enactment of this Act.