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House committee backs memorial asking Congress to repeal Corporate Transparency Act
Summary
The House Business Committee voted to send House Joint Memorial 3 to the floor, urging Congress to repeal the federal Corporate Transparency Act after state officials and small-business advocates described administrative burdens, confusing court decisions and data-security concerns.
Representative Jordan Redmond, R‑District 3, told the House Business Committee on Feb. 11 that House Joint Memorial 3 asks the United States Congress to repeal the Corporate Transparency Act and “eliminate red tape for small businesses.”
The memorial drew testimony from Idaho Secretary of State staff and a small‑business advocate who said the federal rule placing beneficial‑ownership filing requirements on companies has imposed heavy administrative burdens, generated confusion because of shifting court decisions and raised privacy and security concerns.
Nicole Fitzgerald, chief deputy secretary of state, told the committee that the state’s business services office — which handles filings for roughly 900,000 businesses — has received…
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