H.R. 6370 · 118th Congress
OFAC Licensure for Investigators Act
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 118th Congress ended.
D
BeattySponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Nov 13, 2023
- House Passed Jan 12, 2024
This bill requires the Office of Foreign Assets Control (OFAC) to authorize eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations.
What it does: CRS summary · Passed House · Jan 12, 2024
OFAC Licensure for Investigators Act
This bill requires the Office of Foreign Assets Control (OFAC) to authorize eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations.
Specifically, OFAC must establish a pilot program to provide licenses allowing firms to conduct such transactions. A firm that receives a license must submit monthly reports to OFAC on activities conducted under the license.
(OFAC, within the Department of the Treasury, is one of the primary agencies responsible for enforcing economic sanctions. OFAC requires firms to take various actions, such as ensuring that they are not engaging in transactions with entities subject to U.S. sanctions. A firm may also provide voluntary self-disclosures to OFAC with information from a firm's investigation of suspicious activities.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: OFAC Licensure for Investigators Act
Latest action (Jan 16, 2024): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: International Affairs · Origin: House · Introduced: Nov 13, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Nov 13, 2023
- House Passed Jan 12, 2024
No recorded floor vote found.