IB 

Union Calendar No. 280 

118TH CONGRESS 

2D SESSION H. R. 6370 

[Report No. 118–341, Part I] 

To require the Office of Foreign Assets Control to develop a program under 

which private sector firms may receive a license to conduct nominal 

financial transactions in furtherance of the firms’ investigations, and 

for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 13, 2023 

Mrs. BEATTY (for herself and Mr. NUNN of Iowa) introduced the following 

bill; which was 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 

JANUARY 9, 2024 

Reported from the Committee on Financial Services with amendments 

[Strike out all after the enacting clause and insert the part printed in italic] 

JANUARY 9, 2024 

Committee on Foreign Affairs discharged; committed to the Committee of the 

Whole House on the State of the Union and ordered to be printed 

[For text of introduced bill, see copy of bill as introduced on November 13, 2023] 

2 

•HR 6370 RH

A BILL 

To require the Office of Foreign Assets Control to develop 

a program under which private sector firms may receive 

a license to conduct nominal financial transactions in 

furtherance of the firms’ investigations, and for other 

purposes. 

3 

•HR 6370 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘OFAC Licensure for In5 vestigators Act’’. 

6 SEC. 2. SENDING AND RECEIVING OF NOMINAL AMOUNTS. 

7 (a) IN GENERAL.—The Director of the Office of For8 eign Assets Control shall, not later than 1 year after the 

9 date of the enactment of this Act, establish a pilot program 

10 under which a private sector firm may receive a license to 

11 conduct nominal financial transactions in furtherance of 

12 the firm’s investigations. 

13 (b) COORDINATION.—When establishing and carrying 

14 out the pilot program required under subsection (a), the Di15 rector of the of the Office of Foreign Assets Control shall 

16 coordinate with the Director of the Financial Crimes En17 forcement Network for the purposes of supporting activities 

18 of the FinCEN Exchange, as described in section 310(d) of 

19 title 31 of the United States Code. 

20 (c) REPORTING ON ACTIVITIES.—Each private sector 

21 firm that receives a license described under subsection (a) 

22 shall submit a detailed monthly report to the Director of 

23 the Office of Foreign Assets Control on the activities of the 

24 firm conducted under such license. 

4 

•HR 6370 RH

1 (d) TERMINATION.—The pilot program established by 

2 the Director of the Office of Foreign Assets Control under 

3 subsection (a) shall terminate on the date that is 5 years 

4 after the date on which the Director of the Office of Foreign 

5 Assets Control establishes such program. 

Amend the title so as to read: ‘‘A bill to require the 

Office of Foreign Assets Control to develop a program 

under which private sector firms may receive a license to 

conduct nominal financial transactions in furtherance of 

the firms’ investigations, and for other purposes.’’. 

Union Calendar No. 280 

118TH CONGRESS 

2D SESSION H. R. 6370 

[Report No. 118–341, Part I] 

A BILL 

To require the Office of Foreign Assets Control to 

investigations, and for other purposes. nancial transactions in furtherance of the firms’ firms may receive a license to conduct nominal fidevelop a program under which private sector 

JANUARY 9, 2024 

Reported from the Committee on Financial Services with 

amendments 

JANUARY 9, 2024 

Committee on Foreign Affairs discharged; committed to 

Union and ordered to be printed the Committee of the Whole House on the State of the