Financial disclosures
BANKS – Amends and adds to existing law to establish provisions regarding disclosures by financial institutions to the Internal Revenue Service.

RS30059 / H0032

The IRS has significantly expanded its size and scope in recent years and has proposed various ways of requiring financial institutions to disclose private account information. This legislation prohibits a bank, savings bank, savings and loan association, or credit union chartered under this state's law (state-chartered financial institution) from disclosing to the federal Internal Revenue Service deposit and withdrawal transaction information for any account held at the state-chartered financial institution except when required by preexisting state or federal law.

There is no impact to the General Fund as it does not require an outlay of public funds.

Bill Events
Date Description
01/26 Introduced, read first time, referred to JRA for Printing
01/27 Reported Printed and Referred to Business
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