TITLE Act

Summary

True Incorporation Transparency for Law Enforcement Act or the TITLE Act This bill amends the Omnibus Crime Control and Safe Streets Act of 1968 to require a state that receives funding under the Edward Byrne Memorial Justice Assistance Grant program to implement certain incorporation practices, including a requirement for an entity that forms a corporation or limited liability company to provide information about its beneficial owners. The bill imposes a civil penalty and authorizes criminal penalties—a fine, a prison term for up to three years, or both—for providing false or fraudulent beneficial ownership information or for willfully failing to provide complete or updated beneficial ownership information. The bill broadens the term "financial institution" to include a person engaged in the business of forming corporations or limited liability companies. It directs the Department of the Treasury to require persons engaged in the business of forming corporations or limited liability companies to establish anti-money laundering programs. The Government Accountability Office must study and report on: (1) the availability of beneficial ownership information for other legal entities (e.g., partnerships), and (2) the effectiveness of incorporation practices implemented under this bill.

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Timeline

1. 28 June 2017

   Introduced

   Read twice and referred to the Committee on the Judiciary.

   Source: IntroReferral

2. 28 June 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 6 February 2018

   Committee

   Committee on the Judiciary. Hearings held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 28 June 2017 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 28 June 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 28 June 2017

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 28 June 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Whitehouse, Sheldon [D-RI] · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Sen. Grassley, Chuck [R-IA] · R · Sponsor
• · ssju00 · Standing

Related records

• related to → TITLE Act