HR16 Alabama 2021 Session

Summary

Primary Sponsor

Wes AllenSecretary

Republican

Session

First Special Session 2021

Title

Biden Administration Tax Information Reporting proposal, Legislature opposes

Summary

Alabama's House resolution HR16 opposes the federal plan to require banks to report customer financial data to the IRS.

What This Bill Does

It states the Alabama House's opposition to the Biden administration’s proposed tax information reporting. It characterizes the proposal as a sweeping invasion of financial privacy and notes concerns about burdens on banks, businesses, and individuals. It directs that copies of the resolution be sent to President Biden, IRS Commissioner Rettig, Treasury Secretary Yellen, and Alabama's congressional delegation.

Who It Affects

• Alabama residents and businesses: potential privacy concerns and increased reporting burden if the federal proposal were implemented.
• Banks and financial institutions: possible additional reporting obligations and regulatory burdens.
• Federal officials and Alabama's congressional delegation: recipients of the resolution and targets of the opposition.

Key Provisions

• Opposes the provisions of the Biden Administration's American Families Plan that would require financial institutions to report data on accounts with deposits and withdrawals totaling at least $600.
• Declares the proposed information reporting as a sweeping invasion of financial privacy rights without reasonable justification and notes concerns about burden on banks, businesses, and individuals.
• Requires copies of the resolution to be delivered to President Joe Biden, IRS Commissioner Charles Rettig, Treasury Secretary Janet Yellen, and all members of Alabama's Congressional Delegation.

AI-generated summary using openai/gpt-5-nano on Feb 23, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Resolutions, Legislative