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What this bill would do...
This bill would require applicants forming corporations in the United States to provide a list of that corporation's owners. It also would require them to maintain that list for 5 years after the corporation is dissolved.
More information
The introduction to the bill provides the following information about forming a corporation in the United States...
This differs from the European Union, which requires beneficial owners to be identified.
Our current system allowing anonymous corporations enables terrorist organizations, drug and arms trafficking organizations, and international organized crime groups, as well as providing an environment for...
You can read more about what this bill would do in this editorial in The Hill.
This bill did not pass the Senate
This bill was not considered by the Senate, and expired at the end of the 113th Congress.