119th Congress
H.R. 1450
OFAC Licensure for Investigators Act
- Introduced
- In committee
- Passed House
- Passed Senate
- To President
- Became law
- Sponsor
- Joyce Beatty(D-OH)
- Introduced
- Feb 21, 2025
- Policy area
- International Affairs
- Committees
- House Committee on Financial Services; House Committee on Foreign Affairs; Senate Committee on Banking, Housing, and Urban Affairs
- Official text
- Referred in Senate · Congress.gov page
Cosponsors (1)
Original cosponsors (1)
- Zachary Nunn (R-IA)
Summary
Summary by the Congressional Research Service· describes the “Introduced in House” version
OFAC Licensure for Investigators Act
This bill requires the Office of Foreign Assets Control (OFAC) to establish a pilot program to license eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations.
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.)
Roll-call votes
No recorded votes on this bill.
Actions
- Jul 22, 2025 · Senate
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. - Jul 21, 2025 · House
Motion to reconsider laid on the table Agreed to without objection. - Jul 21, 2025 · House
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517) - Jul 21, 2025 · House
DEBATE - The House proceeded with forty minutes of debate on H.R. 1450. - Jul 21, 2025 · House
Considered under suspension of the rules. (consideration: CR H3517-3518) - Jul 21, 2025 · House
Mr. Hill (AR) moved to suspend the rules and pass the bill. - Mar 27, 2025 · House
Placed on the Union Calendar, Calendar No. 34. - Mar 27, 2025 · House
Committee on Foreign Affairs discharged. - Mar 27, 2025 · House
Reported by the Committee on Financial Services. H. Rept. 119-47, Part I. - Mar 5, 2025
Ordered to be Reported by the Yeas and Nays: 49 - 0. - Mar 5, 2025
Committee Consideration and Mark-up Session Held - Feb 21, 2025 · 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. - Feb 21, 2025
Introduced in House