,,ii  #aagth ,,congress  #ast ,session  
,s4 #biec  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,october #g1   
#bjba,mr4 ,tuberville 7for himself1 ,mr4
 ,scott of ,florida1 and ,mr4 ,braun7   
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,finance  ,a ,,bill  ,to  
prohibit the ,internal ,revenue ,service
 from requiring financial institutions  
to report on the financial transactions 
of their customers4  #a4 ,short title   
,this ,act may be cited as the          
,protecting ,financial ,privacy ,act of 
#bjba4  #b4 ,prohibiting the ,internal  
,revenue ,service from requiring        
financial institutions to report on     
financial transactions of customers  7a7
 ,in general ,subject to subsection 7b71
 the ,internal ,revenue ,service shall  
not be permitted to create or implement 
any new financial account information   
reporting program that-- 7#a7 was not in
 effect as of ,october #a1 #bjba1 and   
7#b7 would require financial            

institutions to report data on financial
 accounts in an information return      
listing balances1 transactions1         
transfers1 or inflows or outflows of any
 kind4  7b7 ,rule of construction  7#a7 
,in general ,nothing in this ,act shall 
preempt1 limit1 or supersede1 or be     
construed to preempt1 limit1 or         
supersede1 any provision of1 or         
requirement under1 the ,bank ,secrecy   
,act or any regulations promulgated     
under such ,act4  7#b7 ,definition ,for 
purposes of this subsection1 the term   
,bank ,secrecy ,act means-- 7,a7 section
 #ba of the ,federal ,deposit ,insurance
 ,act 7#ab ,u4,s4,c4 #ahbi;b71  7,b7    
chapter #b of title ,i of ,public ,law  
#ia-ejh 7#ab ,u4,s4,c4 #aiea et seq471  
and  7,c7 subchapter ,,ii of chapter #ec
 of title #ca1 ,united ,states ,code4