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S 1506 112th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Business records Department of the Treasury Government information and archives Interest, dividends, interest rates

A bill to prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to interest on deposits paid to nonresident aliens.

Introduced: October 12, 2011 See on congress.gov
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 2, 2011
Read twice and referred to the Committee on Finance.
Aug 2, 2011
Introduced in Senate
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 Plain-English summary Congressional Research Service

Prohibits the Secretary of the Treasury from requiring a payor of interest to file an information return on interest that is not effectively connected with a trade or business within the United States and that is paid to a nonresident alien on a deposit maintained at an office within the United States.

What's happening now August 2, 2011

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 2568 Identical bill To prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to inter…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Republican 9
R
Risch, James E.
Idaho · Mar 28, 2012
 R
Thune, John
South Dakota · Nov 3, 2011
 R
Barrasso, John
Wyoming · Oct 12, 2011
 R
Boozman, John
Arkansas · Oct 12, 2011
 R
Johnson, Ron
Wisconsin · Oct 12, 2011
 R
Lee, Mike
Utah · Oct 12, 2011
 R
Paul, Rand
Kentucky · Oct 12, 2011
 R
Wicker, Roger F.
Mississippi · Oct 12, 2011
 R
Cornyn, John
Texas · Aug 2, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1506: A bill to prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to interest on deposits paid to nonresident aliens.. 112th Congress. Open America. https://openamerica.io/bill/112-S-1506/
MLA
"S. 1506: A bill to prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to interest on deposits paid to nonresident aliens.." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-1506/.
Bluebook (legal)
S. 1506, 112th Cong. (2026), https://openamerica.io/bill/112-S-1506/.
Markdown link
[S. 1506: A bill to prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to interest on deposits paid to nonresident aliens.](https://openamerica.io/bill/112-S-1506/)
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