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Bill114th CongressFiled Jun 16, 2016Taxation
H.R. 5523

Clyde-Hirsch-Sowers RESPECT Act

Bill journey · stage 2 of 5

Under committee review

Filed
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Floor
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Law

What it doesSummary passed house amended (Sep 22, 2016)

(This measure has not been amended since it was reported to the House on September 9, 2016. The summary of that version is repeated here.)

Clyde-Hirsch-Sowers RESPECT Act or the 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.

What just happenedSep 26, 2016

Received in the Senate.

Who’s behind it

Rep. Roskam, Peter J. [R-IL-6](R-IL)Sponsor
12 cosponsors3 D9 R
Read on Congress.gov
12cosponsors2committees21actions1related bills7subjects
  1. Sep 26, 2016IntroReferral

    Received in the Senate.

  2. Sep 22, 2016FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Sep 22, 2016FloorH37300

    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)

  4. Sep 22, 2016Floor8000

    Passed/agreed to in House: 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)

  5. Sep 22, 2016FloorH30000

    Considered as unfinished business. (consideration: CR H5837-5838)

  6. Sep 20, 2016FloorH37220

    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.

  7. Sep 20, 2016FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 5523.

  8. Sep 20, 2016FloorH30000

    Considered under suspension of the rules. (consideration: CR H5690-5693)

  9. Sep 20, 2016FloorH30300

    Mr. Roskam moved to suspend the rules and pass the bill, as amended.

  10. Sep 9, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 566.

  11. Sep 9, 2016DischargeH12300

    Committee on Financial Services discharged.

    Financial Services Committee
  12. Sep 9, 2016Committee5500

    Committee on Financial Services discharged.

    Financial Services Committee
  13. Sep 9, 2016CommitteeH12200

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-730, Part I.

    Ways and Means Committee
  14. Sep 9, 2016Committee5000

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-730, Part I.

    Ways and Means Committee
  15. Jul 7, 2016Committee

    Ordered to be Reported (Amended) by Voice Vote.

    Ways and Means Committee
  16. Jul 7, 2016Committee

    Committee Consideration and Mark-up Session Held.

    Ways and Means Committee
  17. Jun 16, 2016IntroReferralH11100

    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.

    Financial Services Committee
  18. Jun 16, 2016IntroReferralH11100-A

    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.

  19. Jun 16, 2016IntroReferralH11100

    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.

    Ways and Means Committee
  20. Jun 16, 2016IntroReferralIntro-H

    Introduced in House

  21. Jun 16, 2016IntroReferral1000

    Introduced in House

Passed House amendedSep 22, 201636

(This measure has not been amended since it was reported to the House on September 9, 2016. The summary of that version is repeated here.)

Clyde-Hirsch-Sowers RESPECT Act or the 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.

Reported to House amended, Part ISep 9, 201618

Clyde-Hirsch-Sowers RESPECT Act or the 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.

Introduced in HouseJun 16, 2016

Clyde-Hirsch-Sowers RESPECT Act or the 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.

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.

The bill amends the Internal Revenue Code to exclude from gross income any interest received with respect to an action to recover property seized by the IRS pursuant to a claimed violation of the structuring provisions of the BSA.

Clyde-Hirsch-Sowers RESPECT Act — Informed