119th (2025–2027)
H.R. 6029
H.R. 6029 amends the Bank Secrecy Act to create an exemption from federal currency transaction reporting requirements for cash reward payments made by crime stopper organizations. Currently, banks must report large cash transactions to the Treasury Department, but this bill would excuse depository institutions from that reporting obligation when they process cash payments from nonprofit crime stopper organizations to individuals providing crime tips or information. The bill affects banks and credit unions that work with crime stopper groups, as well as those organizations themselves, by reducing their regulatory burden while maintaining their ability to offer cash rewards as an incentive for public assistance in solving crimes. The legislation does not include new funding requirements, as it only modifies existing Treasury Department regulations. No specific timeline for implementation is mentioned in the bill text.