HR 324

Summary

PPP Shell Company Discovery Act This bill requires the Internal Revenue Service (IRS) to compile a list of Paycheck Protection Program (PPP) loan recipients whose loans were forgiven under the program. Additionally, the IRS must compile (1) a list of such loan recipients who did not withhold payroll taxes in 2019, and (2) a list of loan such recipients for which the aggregate amount of PPP loans exceeded four times the greatest amount of wages paid by the recipient during a calendar month in 2019. The IRS must notify the Department of Justice when the lists are complete.

Bill status

Status

In committee

Sponsor

Rep. William R. Timmons [R-SC-4]

Cosponsors

0

Policy area

Commerce

Introduced

2025-01-09

Latest action

2025-01-09: Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Committee referrals

• Small Business Committee: House · Referred To · 2025-01-09
• Ways and Means Committee: House · Referred To · 2025-01-09

Recent actions

• 2025-01-09: Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• 2025-01-09: Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• 2025-01-09: Introduced in House
• 2025-01-09: Introduced in House