Firearms Owners Against Crime
Institute for Legal, Legislative and Educational Action
Institute for Legal, Legislative and Educational Action
Title: Clyde-Hirsch-Sowers RESPECT Act Restraining Excessive Seizure of Property through the Exploitation of Civil Asset Forfeiture Tools Act
Subject: Taxation
Description: Clyde-Hirsch-Sowers RESPECT Act Restraining Excessive Seizure of Property through the Exploitation of Civil Asset Forfeiture Tools Act This bill revises the authority and procedures that the Internal Revenue Service (IRS) uses to seize property that has been structured to avoid Bank Secrecy Act (BSA) reporting requirements. (Sec. 2) The IRS may only seize property it suspects has been structured to avoid BSA reporting requirements if the property was derived from an illegal source or the funds were structured for the purpose of concealing the violation of a criminal law or regulation other than structuring transactions to evade BSA reporting requirements. Within 30 days of seizing property, the IRS must: (1) make a good faith effort to find all owners of the property, and (2) notify the owners of the post-seizure hearing rights established by this bill. The IRS may apply to a court for one 30-day extension of the notice requirement if it can establish probable cause of an imminent threat to national security or personal safety. If the owner of the property requests a court hearing within 30 days after the date on which notice is provided, the property must be returned unless the court holds a hearing within 30 days after notice is provided and finds that there is probable cause to believe that the property was derived from an illegal source or the funds were structured to conceal the violation of a criminal law or regulation other than a structuring violation. (Sec. 3) The bill amends the Internal Revenue Code to exclude from gross income any interest received from the federal government in connection with an action to recover property seized by the IRS pursuant to a claimed violation of the structuring provisions of the BSA.
Session: 114th Congress
Last Action: Received in the Senate.
Last Action Date: September 26, 2016
Link: https://www.congress.gov/bill/114th-congress/house-bill/5523/all-info
Note: the first sponsor listed is normally the primary sponsor. If a sponsor's name is a hyperlink you can click on it to 'follow the money'.
13 sponsors: Peter Roskam (R); Joseph Crowley (D); Patrick Meehan (R); George Holding (R); Jason Smith (R); Tom Reed (R); Tom Rice (R); Kenny Marchant (R); Chris Van Hollen (D); James Renacci (R); Danny Davis (D); Doug Collins (R); Andy Harris (R)
| Chamber | Date | Action |
| Senate | Sep 26 2016 | Received in the Senate. |
| House | Sep 22 2016 | Motion to reconsider laid on the table Agreed to without objection. |
| House | Sep 22 2016 | Considered as unfinished business. (consideration: CR H5837-5838) |
| House | Sep 22 2016 | On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 0 (Roll no. 548). (text: CR 09/20/2016 H5691) |
| House | Sep 20 2016 | At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. |
| House | Sep 20 2016 | Mr. Roskam moved to suspend the rules and pass the bill, as amended. |
| House | Sep 20 2016 | Considered under suspension of the rules. (consideration: CR H5690-5693) |
| House | Sep 20 2016 | DEBATE - The House proceeded with forty minutes of debate on H.R. 5523. |
| House | Sep 9 2016 | Committee on Financial Services discharged. |
| House | Sep 9 2016 | Placed on the Union Calendar, Calendar No. 566. |
| House | Sep 9 2016 | Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-730, Part I. |
| House | Jul 7 2016 | Committee Consideration and Mark-up Session Held. |
| House | Jul 7 2016 | Ordered to be Reported (Amended) by Voice Vote. |
| House | Jun 16 2016 | Referred to House Ways and Means |
| House | Jun 16 2016 | Introduced in House |
| House | Jun 16 2016 | Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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. |
| House | Jun 16 2016 | Referred to House Financial Services |
| Type | Date | Federal Link | Text |
| Introduced | Jun 22 2016 | federal bill text | bill text |
| Introduced | Sep 20 2016 | federal bill text | bill text |
| Engrossed | Sep 24 2016 | federal bill text | bill text |
| Title | Description | Date | State Link | Text | Adopted |
| There are no amendments to this bill at this time | |||||
Chamber:
Committee Name:
On Motion to Suspend the Rules and Pass, as Amended
On Motion to Suspend the Rules and Pass, as Amended