October ’22 at-a-glance … regulations

Jan. 1, 2023, PFA reporting requirements begin in Maine

Maine continues advancing some of the most comprehensive per- and polyfluoroalkyl substances (PFAs) restrictions in the country. Effective Jan. 1, 2023, Public Law c. 477 requires manufacturers of products with intentionally added PFAs report those products to an online reporting database that is under development. The law also prohibits the sale of carpets, rugs or fabric treatments that intentionally contain PFAs by the same date. The sale of any product containing intentionally added PFAs will be banned in the state effective Jan. 1, 2030. “Though PFAs have faced heightened public and regulatory scrutiny in the last few years, an outright ban like this is the first of its kind,” said Tammy Helminski, NAFEM legal counsel, Barnes & Thornburg.

Beneficial ownership reporting now required

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule establishing a beneficial ownership information reporting requirement as required by the  House Corporate Transparency Act (CTA) included in the Anti-Money Laundering Act of 2020.   The rule requires limited liability companies, and other entities created in or registered to do business in the U.S., to report information about their beneficial owners – the people who ultimately own or control the company.

NAFEM opposed this rule when it was introduced, writing to Senate leaders that “The amendment would impose duplicative, burdensome reporting burdens on small businesses. It also raises significant privacy concerns.” It also recently joined more than 70 other trade organizations wrote to Senate leaders voicing their opposition to the Establishing New Authorities for Business Laundering and Enabling Risks to Security (ENABLERS) Act, which passed the House as part of this year’s National Defense Authorization Act (NDAA). “This legislation would dramatically expand the recent CTA’s reporting requirements. The irony is … the ENABLERS Act and the CTA both rely on criminals to self-report their crimes.”

NJ considers legislation to promote manufacturing careers

The New Jersey Senate and General Assembly are considering the Manufacturing in Higher Education Act to promote manufacturing careers for students and provide assistance to the state’s manufacturing industry. The proposed legislation would create a manufacturing career pathway with county colleges and vocational schools to provide students with the skills necessary to secure employment in the manufacturing or advanced manufacturing sector.