118th Congress International Affairs
H.R. 6370: OFAC Licensure for Investigators Act
Passed House
- Introduced (completed)
- Passed House (completed)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Read the full summary
(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 Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Zachary (Zach) Nunn R-IAOriginal
Who scored on this bill
- 1Joyce Beatty SponsorDrew cross-party cosponsors, introduced, reported, discharged, passed House5 events+80
- 2Zachary (Zach) NunnCosponsored; cosponsored bill passed2 events+4
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Joyce Beatty
History
- Passed the House by voice vote.
- Introduced in the House by Joyce Beatty.
Show the full action history (16 actions)
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Considered as unfinished business. (consideration: CR H126)
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 1/10/2024 CR H37)
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 1/10/2024 CR H37)
- Motion to reconsider laid on the table Agreed to without objection.
- Mr. McHenry moved to suspend the rules and pass the bill, as amended.
- Considered under suspension of the rules. (consideration: CR H37-39)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 6370.
- At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. McHenry objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was considered as withdrawn.
- Reported (Amended) by the Committee on Financial Services. H. Rept. 118-341, Part I.
- Committee on Foreign Affairs discharged.
- Placed on the Union Calendar, Calendar No. 280.
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 50 - 0.
- Introduced in House
- Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.