SNOOP Act of 2022

Summary

Stop the Nosy Obsession with Online Payments Act of 2022 or the SNOOP Act of 2022 This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned more than $20,000 on more than 200 separate transactions in an applicable tax period. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network. This reverses a provision in the American Rescue Plan Act of 2021 that lowered the reporting threshold to $600 with no minimum on the number of transactions.

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Timeline

1. 1 February 2022

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 1 February 2022

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 February 2022 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 February 2022

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 February 2022

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 February 2022

  Open at official source

Sponsors

• Bill Hagerty · R · Sponsor
• Thomas Tillis · R · Sponsor
• Cynthia Lummis · R · Sponsor
• Joni Ernst · R · Sponsor
• Ted Cruz · R · Sponsor
• Kevin Cramer · R · Sponsor
• Sen. Braun, Mike [R-IN] · R · Sponsor
• Sen. Rubio, Marco [R-FL] · R · Sponsor
• Rick Scott · R · Sponsor
• John Hoeven · R · Cosponsor
• John Kennedy · R · Cosponsor
• Roger Marshall · R · Cosponsor
• Sen. Romney, Mitt [R-UT] · R · Cosponsor
• John Cornyn · R · Cosponsor
• Chuck Grassley · R · Cosponsor
• Sen. Portman, Rob [R-OH] · R · Cosponsor
• James Lankford · R · Cosponsor
• Jerry Moran · R · Cosponsor
• Shelley Capito · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Saving Gig Economy Taxpayers Act
• related to → A bill to protect American small businesses, gig workers, and freelancers by repealing the burdensome American Rescue Plan Act of 2021 transactions reporting threshold.
• related to → SNOOP Act of 2023
• related to ← SNOOP Act of 2022