All Information (Except Text) for S.2329 - Hezbollah International Financing Prevention Act of 2014113th Congress (2013-2014)
|Sponsor:||Sen. Shaheen, Jeanne [D-NH] (Introduced 05/13/2014)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 05/13/2014 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
Hezbollah International Financing Prevention Act of 2014
Actions Overview (1)
|05/13/2014||Introduced in Senate|
05/13/2014 Introduced in Senate
All Actions (1)
|05/13/2014||Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.|
Action By: Senate
05/13/2014 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Banking, Housing, and Urban Affairs||05/13/2014||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
- Arab-Israeli relations
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Broadcasting, cable, digital technologies
- Congressional oversight
- Department of the Treasury
- Diplomacy, foreign officials, Americans abroad
- Drug trafficking and controlled substances
- Financial services and investments
- Foreign and international banking
- Foreign property
- Fraud offenses and financial crimes
- Intelligence activities, surveillance, classified information
- International exchange and broadcasting
- Judicial review and appeals
- Middle East
- Organized crime
- Television and film
- Trade restrictions
- War and emergency powers
Latest Summary (1)
Introduced in Senate (05/13/2014)
Hezbollah International Financing Prevention Act of 2014 - Declares that it shall be U.S. policy to: (1) prevent Hezbollah's global logistics and financial network from operating in order to curtail funding of its domestic and international activities; and (2) utilize diplomatic, legislative, and executive avenues to combat Hezbollah's criminal activities in order to block that organization's ability to fund its global terrorist activities.
Directs the Secretary of the Treasury to prohibit, or impose strict conditions on, the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly: (1) facilitates the activities of Hezbollah or any of its agents or affiliates whose property or property interests are blocked pursuant to the International Emergency Economic Powers Act; (2) facilitates the activities of a person acting on behalf of or at the direction of, or owned or controlled by such institution; (3) engages in money laundering to carry out such activity; or (4) facilitates a significant transaction or transactions or provides significant financial services to carry out such activity.
Directs the Secretary to prescribe reporting, information sharing, and due diligence requirements for domestic financial institutions that maintain a correspondent account or payable-through account in the United States for a foreign financial institution.
Authorizes the Secretary to waive such requirements if in U.S. national security interests, and with congressional notification.
Directs the Secretary to identify to Congress every 180 days each foreign central bank that carries out an activity prohibited under this Act.
Sets forth penalty requirements for specified violations under this Act.
Directs the President to report to Congress regarding: (1) satellite, broadcast, Internet, or other providers that knowingly carry al-Manar TV or its affiliates; and (2) countries in which Hezbollah maintains important portions of its global logistics networks, and an assessment of whether a country is taking adequate measures to disrupt Hezbollah's networks within that country.
Directs the President to designate Hezbollah as: (1) a significant foreign narcotics trafficker if Hezbollah meets the criteria set forth under the Foreign Narcotics Kingpin Designation Act, and (2) a significant transnational criminal organization if Hezbollah meets the criteria set forth under Executive Order 13581.
Directs the President to report to Congress which of these criteria the President determines that Hezbollah has not met, if it does not.
Declares that nothing in this Act shall apply to authorized U.S. intelligence activities.
States that any requirement of this Act shall cease to be in effect 30 days after the President certifies to Congress that Hezbollah: (1) is no longer designated as a foreign terrorist organization, and (2) is no longer listed in the Annex to Executive Order 13224 (blocking property and prohibiting transactions with persons who commit or support terrorism).