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HR 1450 119th Congress House International Affairs Congressional oversight Financial services and investments Fraud offenses and financial crimes Licensing and registrations

OFAC Licensure for Investigators Act

Introduced: February 21, 2025 Introduced by: Beatty, Joyce Democratic · Ohio See on congress.gov
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 Everywhere this bill has been 14 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 22, 2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 21, 2025
Motion to reconsider laid on the table Agreed to without objection.
Jul 21, 2025
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
Jul 21, 2025
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
Jul 21, 2025
DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.
Jul 21, 2025
Considered under suspension of the rules. (consideration: CR H3517-3518)
Jul 21, 2025
Mr. Hill (AR) moved to suspend the rules and pass the bill.
Mar 27, 2025
Placed on the Union Calendar, Calendar No. 34.
Mar 27, 2025
Committee on Foreign Affairs discharged.
Mar 27, 2025
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
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
 Plain-English summary Congressional Research Service

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.)

What's happening now July 22, 2025

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Republican 1