DE SCR37

Urges Delaware's U.S. Congressional Delegation (Senators Carper and Coons, Representative Blunt Rochester) to support federal legislation establishing a national database of beneficial ownership for corporations and limited liability companies.

Calls on Delaware's Congressional representatives to sponsor and shepherd federal legislation creating a definitive national beneficial ownership database to assist law enforcement in combating criminal activity.

Identifies anonymous shell companies enabled by secret beneficial ownership as tools for money laundering, narcotics trafficking, embezzlement, bribery, securities fraud, prostitution, child sex trafficking, and terrorist financing.

Notes that Delaware, with over 900,000 registered limited liability companies, would benefit from uniform national standards that would prevent businesses from relocating to states with weaker disclosure requirements while maintaining Delaware's corporate tax revenue.

Directs the Secretary of the Senate to send copies of the resolution to Delaware's U.S. Congressional Delegation to inform them of the General Assembly's position on the matter.