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Senate committee backs memorial urging repeal of 2021 Corporate Transparency Act
Summary
The Senate Commerce and Human Resources Committee voted to send House Joint Memorial 3 to the Senate floor with a "do pass" recommendation after testimony that the federal Corporate Transparency Act places undue burdens on small businesses and raises privacy concerns.
The Senate Commerce and Human Resources Committee on a voice vote sent House Joint Memorial 3 to the Senate floor with a due-pass recommendation after testimony urging Congress to repeal the 2021 Corporate Transparency Act.
The memorial, presented by State Senator Todd Lakey, asks Idaho’s congressional delegation to pursue repeal. Lakey told the committee that the federal rule requires small-business owners to disclose personal details and "has been a nightmare in its scope and attempts to implement." He said the memorial reflects concerns…
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