119th Congress
H.R. 324
PPP Shell Company Discovery Act
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- William R. Timmons IV(R-SC)
- Introduced
- Jan 9, 2025
- Policy area
- Commerce
- Committees
- House Committee on Small Business; House Committee on Ways and Means
- Official text
- Introduced in House · Congress.gov page
Cosponsors (0)
No cosponsors.
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
PPP Shell Company Discovery Act
This bill requires the Internal Revenue Service (IRS) to compile a list of Paycheck Protection Program (PPP) loan recipients whose loans were forgiven under the program.
Additionally, the IRS must compile (1) a list of such loan recipients who did not withhold payroll taxes in 2019, and (2) a list of loan such recipients for which the aggregate amount of PPP loans exceeded four times the greatest amount of wages paid by the recipient during a calendar month in 2019.
The IRS must notify the Department of Justice when the lists are complete.
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 9, 2025 · House
Referred to the Committee 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 jurisdiction of the committee concerned. - Jan 9, 2025
Introduced in House