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US HB1799

Bill

Status

Introduced

3/3/2025

Primary Sponsor

Barry Loudermilk

Click for details

Origin

House of Representatives

119th Congress

AI Summary

  • Raises the currency transaction report (CTR) threshold from $10,000 to $30,000, with Treasury required to implement within 180 days of enactment

  • Increases suspicious activity report (SAR) thresholds from $5,000 to $10,000 and from $2,000 to $3,000 within 180 days

  • Updates the money services business definition threshold from $1,000 to $3,000 for regulatory purposes

  • Requires automatic inflation adjustments every 5 years based on the Consumer Price Index for All Urban Consumers

  • Amends reporting requirements under 31 U.S.C. 5313, 5318(g), and 5331 for coins and currency received in nonfinancial trade or business

Legislative Description

Financial Reporting Threshold Modernization Act

Finance and financial sector

Last Action

Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 24.

1/22/2026

Committee Referrals

Financial Services3/3/2025

Full Bill Text

No bill text available