United States 117th Congress Status: In Committee 1 R cosponsors

S 3546 — SNOOP Act of 2022

Last action — Read twice and referred to the Committee on Finance.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Stop the Nosy Obsession with Online Payments Act of 2022 or the SNOOP Act of 2022 This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned more than $20,000 on more than 200 separate transactions in an applicable tax period. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network. This reverses a provision in the American Rescue Plan Act of 2021 that lowered the reporting threshold to $600 with no minimum on the number of transactions.

Bill Text

How this bill changes current law

2 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill repeals certain reporting requirements for third party network transactions that were established by the American Rescue Plan Act of 2021.

  • Section 6050W(e)

    ``(e) Exception for De Minimis Payments by Third Party Settlement Organizations.--A third party settlement organization shall be required to report any information under subsection (a) with respect to third party network transactions of any participating payee only if-- ``(1) the amount which would otherwise be reported under subsection (a)(2) with respect to such transactions exceeds $600, and ``(2) the aggregate number of such transactions exceeds 200.''. → ``(e) Exception for De Minimis Payments by Third Party Settlement Organizations.--A third party settlement organization shall be required to report any information under subsection (a) with respect to third party network transactions of any participating payee only if-- ``(1) the amount which would otherwise be reported under subsection (a)(2) with respect to such transactions exceeds $20,000, and ``(2) the aggregate number of such transactions exceeds 200.''.

    This change raises the reporting threshold from $600 to $20,000 for third party network transactions.

  • Section 6050W(c)(3)

    ``described in subsection (d)(3)(A)(iii)''

    This change removes a specific reference from the existing law, likely simplifying the reporting requirements.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation technology
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Frequently asked questions

What does S 3546 do?
Stop the Nosy Obsession with Online Payments Act of 2022 or the SNOOP Act of 2022 This bill modifies requirements for third party settlement organizations to eliminate their reporting requirement with respect to the transactions of their participating payees unless they have earned more than $20,000 on more than 200 separate transactions in an applicable tax period. A third party settlement organization is the central organization that has the contractual obligation to make payments to participating payees (generally, a merchant or business) in a third party payment network. This reverses a provision in the American Rescue Plan Act of 2021 that lowered the reporting threshold to $600 with no minimum on the number of transactions.
Who sponsors S 3546?
S 3546 is sponsored by Hagerty, Bill (Republican).
What is the current status of S 3546?
This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 3546?
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