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118th Congress Taxation

S. 26: SNOOP Act of 2023

Introduced

  1. Introduced (completed)Jan 23, 2023
  2. Passed Senate (not reached)
  3. Passed House (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in Senate, Jan 23, 2023

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

33

Bipartisan support.

Who scored on this bill

12 points earned
  1. 1Bill Hagerty R-TN SponsorIntroduced, reached a cosponsor milestone, drew cross-party cosponsors3 events+12
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Bill Hagerty

History

  1. Jan 23, 2023Introduced in the Senate by Bill Hagerty.
Show the full action history (2 actions)
  1. Jan 23, 2023Introduced in Senate
  2. Jan 23, 2023Read twice and referred to the Committee on Finance.