PPP Shell Company Discovery Act

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 9 January 2025

   Introduced

   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.

   Source: IntroReferral

2. 9 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 January 2025

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Introduced in House

  Introduced in House · EN · 9 January 2025

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 9 January 2025

  Open at official source

Sponsors

• William Timmons · R · Sponsor
• · hssm00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.