Summary: S.2612 — 99th Congress (1985-1986)All Information (Except Text)

There is one summary for S.2612. Bill summaries are authored by CRS.

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Introduced in Senate (06/26/1986)

Terrorist Subsidy Prevention Act - Amends the Export Administration Act of 1979 to declare it is U.S. policy to use export controls to restrict the export of: (1) capital, the extension of credit, or the transfer of financial resources to destinations or persons abroad in order to combat terrorism and promote U.S. security; and (2) goods and technology where such export will likely support terrorism against U.S. citizens, will benefit terrorists, or will benefit countries supporting international terrorism.

Authorizes the President to restrict the export or transfer of money or other financial assets to the government of a country designated as a country supporting international terrorism.

Authorizes the President to restrict the export or transfer of goods and technology if such export will likely support terrorism against U.S. citizens, will benefit terrorists, or will benefit countries supporting international terrorism.

Provides for negotiations with other countries to obtain their cooperation with such export controls on capital, goods, and technology.

Requires export license applications for the export of capital to be submitted to the Secretary of the Treasury, who shall make all determinations with respect to such application.

Requires the annual report on the administration of the Export Administration Act of 1979 to include a report on actions taken to carry out export controls on capital.