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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - Senate

Short Titles as Introduced

True Incorporation Transparency for Law Enforcement Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to ensure that persons who form corporations in the United States disclose the beneficial owners of those corporations, in order to prevent the formation of corporations with hidden owners, stop the misuse of United States corporations by wrongdoers, and assist law enforcement in detecting, preventing, and punishing terrorism, money laundering, tax evasion, and other criminal and civil misconduct involving United States corporations, and for other purposes.

Actions Overview (1)

Date Actions Overview
06/28/2017Introduced in Senate

All Actions (2)

Date All Actions
02/06/2018Committee on the Judiciary. Hearings held.
06/28/2017Read twice and referred to the Committee on the Judiciary.
Action By: Senate

Cosponsors (2)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Feinstein, Dianne [D-CA]* 06/28/2017
Sen. Grassley, Chuck [R-IA]* 06/28/2017

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Judiciary06/28/2017 Referred to
02/06/2018 Hearings by

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Latest Summary (1)

There is one summary for S.1454. View summaries

Shown Here:
Introduced in Senate (06/28/2017)

True Incorporation Transparency for Law Enforcement Act or the TITLE Act

This bill amends the Omnibus Crime Control and Safe Streets Act of 1968 to require a state that receives funding under the Edward Byrne Memorial Justice Assistance Grant program to implement certain incorporation practices, including a requirement for an entity that forms a corporation or limited liability company to provide information about its beneficial owners.

The bill imposes a civil penalty and authorizes criminal penalties—a fine, a prison term for up to three years, or both—for providing false or fraudulent beneficial ownership information or for willfully failing to provide complete or updated beneficial ownership information.

The bill broadens the term "financial institution" to include a person engaged in the business of forming corporations or limited liability companies. It directs the Department of the Treasury to require persons engaged in the business of forming corporations or limited liability companies to establish anti-money laundering programs.

The Government Accountability Office must study and report on: (1) the availability of beneficial ownership information for other legal entities (e.g., partnerships), and (2) the effectiveness of incorporation practices implemented under this bill.