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H.R. 324 · 119th Congress

PPP Shell Company Discovery Act

In committee

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Bill details

Introduced: 1/9/2025
Current status: In committee
Bill ID: 119hr324
Latest official action: 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.

Bill overview

A neutral overview based on official congressional sources.

Introduced in House

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.

Source: BILLSUM · Summary date: 1/9/2025

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Last updated: 1/9/2025Source: BILLSUMBill: 119hr324Learn more →