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.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedNov 13, 2023
- Passed HouseJan 12, 2024
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot 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.
(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.)
Cosponsors 1
Members who signed on, in the order they did. All signed on Nov 13, 2023.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-IA | Zachary Nunn | Original | Nov 13, 2023 |
Actions 16
Everything that happened, newest first.
- Jan 16, 2024Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jan 12, 2024Considered as unfinished business. (consideration: CR H126)
- Jan 12, 2024Motion to reconsider laid on the table Agreed to without objection.
- Jan 12, 2024On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 1/10/2024 CR H37)
- Jan 12, 2024Passed/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)
Subjects
Assigned by the Library of Congress. Policy area: International Affairs.
Text 4
Each version as it was printed, newest first.
- Jan 16, 2024Referred in Senate
- Jan 12, 2024Engrossed in House
- Jan 9, 2024Reported in House
- Nov 13, 2023Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.