H.R. 5935: To repeal the violation of sovereign nations' laws and privacy matters.
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H.R. 5935: To repeal the violation of sovereign nations' laws and privacy matters.
114th Congress · introduced 2016-09-06 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2016-09-06 · official record
- Who proposed it: Rep. Meadows, Mark [R-NC-11] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
To repeal the violation of sovereign nations' laws and privacy matters.
Plain summary
This bill amends the Internal Revenue Code, with respect to tax administration requirements for foreign-source income and assets, to repeal: (1) withholding requirements for payments to foreign financial institutions and other foreign entities, (2) information reporting for foreign financial assets, (3) penalties for underpayments of tax attributable to undisclosed foreign financial assets, (4) reporting requirements for shareholders of a passive foreign investment company and U.S. owners of foreign trusts, and (5) the additional penalty for failure to file required notices and information returns for certain foreign trusts.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
To repeal the violation of sovereign nations' laws and privacy matters.
Source: Congressional Research Service summary (Introduced in House)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Meadows, Mark [R-NC-11] · 4 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
David Schweikert (R-AZ)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr5935.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>
Record fed-us-cong114-hr5935 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114