Community Association Reporting Exemption Act

Bill: 118-hr-9045
Sponsor: full_name: Rep. McCormick, Richard [R-GA-6]
Introduced: 2024-07-15
Policy area: Taxation
Latest action: action_date: 2024-07-15
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2024-07-15
action_desc: Introduced in House
text: <p><strong>Community Association Reporting Exemption Act</strong></p><p>This bill exempts certain tax-exempt homeowners associations from beneficial ownership information reporting requirements.&nbsp;</p>

tv_txt: I 118th CONGRESS 2d Session H. R. 9045 IN THE HOUSE OF REPRESENTATIVES July 15, 2024 Mr. McCormick (for himself, Mr. Loudermilk , and Mr. Weber of Texas ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend title 31, United States Code, to exempt entities subject to taxation under section 528 of the Internal Revenue Code of 1986 from certain beneficial ownership reporting requirements.

1. Short title This Act may be cited as the Community Association Reporting Exemption Act . 2. Exemption Section 5336(a)(11)(B)(xix) of title 31, United States Code, is amended— (1) in subclause (II), by striking or at the end; (2) in subclause (III), by adding or at the end; and (3) by adding at the end the following: (IV) entity subject to taxation under section 528 of the Internal Revenue Code of 1986; .