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![handle is hein.congrecreports/crptxacql0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Op
116TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 116-227
CORPORATE TRANSPARENCY ACT OF 2019
OCTOBER 8, 2019.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Ms. WATERS, from the Committee on Financial Services,
submitted the following
REPORT
together with
DISSENTING VIEWS
[To accompany H.R. 2513]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 2513) to ensure that persons who form corporations or
limited liability companies in the United States disclose the bene-
ficial owners of those corporations or limited liability companies, in
order to prevent wrongdoers from exploiting United States corpora-
tions and limited liability companies for criminal gain, to assist law
enforcement in detecting, preventing, and punishing terrorism,
money laundering, and other misconduct involving United States
corporations and limited liability companies, and for other pur-
poses, having considered the same, report favorably thereon with
an amendment and recommend that the bill as amended do pass.
CONTENTS
Page
P urpose an d Sum m ary ............................................................................................ 10
Background and Need for Legislation .................................................................... 10
Section-by-Section A nalysis .................................................................................... 12
H e arin g s ................................................................................................................... 18
C om m ittee C onsideration ........................................................................................ 18
C om m ittee V otes ...................................................................................................... 19
Statement of Oversight Findings and Recommendations of the Committee ...... 23
Statement of Performance Goals and Objectives .................................................. 23
New Budget Authority and CBO Cost Estimate ................................................... 23
Com m ittee Cost E stim ate ....................................................................................... 27
U nfunded M andate Statem ent ............................................................................... 27
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