Senate Introduces Bill to Force Federal Contractors to Disclose Corporate Owners

October 2, 2013

Senate Introduces Bill to Force Federal Contractors to Disclose Corporate Owners

On August 1, 2013, Sen. Carl Levin (D-MI), along with several cosponsors, introduced the “Incorporation Transparency and Law Enforcement Assistance Act” (S. 1465). This bill would require corporations bidding on federal contracts above the simplified acquisition threshold to disclose individuals with an ownership interest in the corporation. However, regulated corporations whose ownership is already known—i.e., banks, publically traded corporations, securities firms, and other similar corporations—would be exempt from the disclosure requirement. The bill was referred to the Committee on the Judiciary. 






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