House Bill
H.R. 324
PPP Shell Company Discovery Act
Primary Sponsor
Lloyd Doggett
Representative
Cosponsors
0
Quick Stats
Policy Area
Summary
This bill requires the IRS to compile lists of Paycheck Protection Program loan recipients whose loans were forgiven. Specifically, the IRS must identify recipients who did not withhold payroll taxes in 2019 and recipients whose PPP loan amounts exceeded four times their highest monthly wages in 2019. These criteria help identify potential shell companies or fraudulent recipients who may have claimed loans for non-existent or inflated payrolls. The IRS must notify the Department of Justice when lists are complete for potential prosecution.
Latest 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.
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Vote Prediction
PPP Shell Company Discovery Act
This bill requires the IRS to compile lists of Paycheck Protection Program loan recipients whose loans were forgiven. Specifically, the IRS must identify recipients who did not withhold payroll taxes in 2019 and recipients whose PPP loan amounts exceeded four
Community Breakdown
Pass
0%
Fail
0%
0 predictions
This bill requires the IRS to compile lists of Paycheck Protection Program loan recipients whose loans were forgiven. Specifically, the IRS must identify recipients who did not withhold payroll taxes in 2019 and recipients whose PPP loan amounts exceeded four times their highest monthly wages in 2019. These criteria help identify potential shell companies or fraudulent recipients who may have claimed loans for non-existent or inflated payrolls. The IRS must notify the Department of Justice when lists are complete for potential prosecution.
- Bill Number
- 324
- Sponsor
- Lloyd Doggett (D-TX)
- Introduced
- 1/9/2025
- Status
- Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for
- Policy Area
- Commerce
Data from Congress.gov
Fact Sheet
- Title
- PPP Shell Company Discovery Act
- Bill Number
- 324
- Sponsor
- Lloyd Doggett (D-TX)
- Status
- Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for
- Introduced
- 1/9/2025
- Summary
- This bill requires the IRS to compile lists of Paycheck Protection Program loan recipients whose loans were forgiven. Specifically, the IRS must identify recipients who did not withhold payroll taxes in 2019 and recipients whose PPP loan amounts exceeded four times their highest monthly wages in 201
Data from Congress.gov
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