(B) expenditures from the Development As-
sistance Fund under section 653(a) of the For-
eign Assistance Act of 1961 (22 U.S.C. 2413(a)). 
SEC. 303. ENGAGING INTERNATIONAL FINANCIAL INSTITU-
TIONS TO ADVANCE LIBYAN ECONOMIC RE-
COVERY AND IMPROVE PUBLIC SECTOR FI-
NANCIAL MANAGEMENT. 
(a) IN GENERAL.—The Secretary of the Treasury shall 
instruct the United States Executive Director at each inter-
national financial institution to use the voice, vote, and in-
fluence of the United States to support, in a way that is 
consistent with broader United States national interests, a 
Libyan-led process to develop a framework for the economic 
recovery of Libya and improved public sector financial 
management, complementary to United Nations-led peace 
efforts and in support of the future establishment of a sov-
ereign state with democratic institutions and the rule of law 
in Libya. 
(b) ADDITIONAL ELEMENTS.—To the extent consistent 
with broader United States national interests, the frame-
work described in subsection (a) shall include the following 
policy proposals: 
(1) To restore, respect, and safeguard the integ-
rity, unity, and lawful governance of Libya’s key eco-
nomic ministries and institutions, in particular the 
VerDate Sep 11 2014 
22:06 Nov 17, 2020
Jkt 019200
PO 00000
Frm 00036
Fmt 6652
Sfmt 6203
E:\BILLS\H4644.RH
H4644
pamtmann on DSKBC07HB2PROD with BILLS
Central Bank of Libya, the Libya Investment Author-
ity, the National Oil Corporation, and the Audit Bu-
reau (AB). 
(2) To improve the accountability and effective-
ness of Libyan authorities, including sovereign eco-
nomic institutions, in providing services and oppor-
tunity to the Libyan people. 
(3) To assist in improving public financial man-
agement and reconciling the public accounts of na-
tional financial institutions and letters of credit 
issued by private Libyan financial institutions as 
needed pursuant to a political process. 
(4) To restore the production, efficient manage-
ment, and development of Libya’s oil and gas indus-
tries so such industries are resilient against malign 
foreign influence and can generate prosperity on be-
half of the Libyan people. 
(5) To promote the development of private sector 
enterprise. 
(6) To improve the transparency and account-
ability of public sector employment and wage dis-
tribution. 
(7) To strengthen supervision of and reform of 
Libyan financial institutions. 
VerDate Sep 11 2014 
22:06 Nov 17, 2020
Jkt 019200
PO 00000
Frm 00037
Fmt 6652
Sfmt 6203
E:\BILLS\H4644.RH
H4644
pamtmann on DSKBC07HB2PROD with BILLS
(8) To eliminate exploitation of price controls 
and market distorting subsidies in the Libyan econ-
omy. 
(9) To support opportunities for United States 
businesses. 
(c) CONSULTATION.—In supporting the framework de-
scribed in subsection (a), the Secretary of the Treasury shall 
instruct the United States Executive Director at each inter-
national financial institution to encourage the institution 
to consult with relevant stakeholders in the financial, gov-
ernance, and energy sectors. 
(d) DEFINITION OF INTERNATIONAL FINANCIAL INSTI-
TUTION.—In this section, the term ‘‘international financial 
institution’’ means the International Monetary Fund, 
International Bank for Reconstruction and Development, 
European Bank for Reconstruction and Development, Inter-
national Development Association, International Finance 
Corporation, Multilateral Investment Guarantee Agency, 
African Development Bank, African Development Fund, 
Asian Development Bank, Inter-American Development 
Bank, Bank for Economic Cooperation and Development in 
the Middle East and North Africa, and Inter-American In-
vestment Corporation. 
(e) TERMINATION.—The requirements of this section 
shall cease to be effective on December 31, 2024. 
VerDate Sep 11 2014 
22:06 Nov 17, 2020
Jkt 019200
PO 00000
Frm 00038
Fmt 6652
Sfmt 6203
E:\BILLS\H4644.RH
H4644
pamtmann on DSKBC07HB2PROD with BILLS
SEC. 304. RECOVERING ASSETS STOLEN FROM THE LIBYAN 
PEOPLE. 
(a) SENSE OF CONGRESS.—It is the sense of Congress 
that the Secretary of State, the Secretary of the Treasury, 
and the Attorney General should, to the extent practicable, 
advance a coordinated international effort— 
(1) to carry out special financial investigations 
to identify and track assets taken from the people and 
institutions of Libya through theft, corruption, money 
laundering, or other illicit means; and 
(2) to work with foreign governments— 
(A) to share financial investigations intel-
ligence, as appropriate; 
(B) to oversee the assets identified pursuant 
to paragraph (1); and 
(C) to provide technical assistance to help 
governments establish the necessary legal frame-
work to carry out asset forfeitures. 
(b) ADDITIONAL ELEMENTS.—The coordinated inter-
national effort described in subsection (a) should include 
input from— 
(1) the Office of Terrorist Financing and Finan-
cial Crimes of the Department of the Treasury; 
(2) the Financial Crimes Enforcement Network 
of the Department of the Treasury; and 
VerDate Sep 11 2014 
22:06 Nov 17, 2020
Jkt 019200
PO 00000
Frm 00039
Fmt 6652
Sfmt 6203
E:\BILLS\H4644.RH
H4644
pamtmann on DSKBC07HB2PROD with BILLS
(3) the Money Laundering and Asset Recovery 
Section of the Department of Justice. 
VerDate Sep 11 2014 
22:06 Nov 17, 2020
Jkt 019200
PO 00000
Frm 00040
Fmt 6652
Sfmt 6203
E:\BILLS\H4644.RH
H4644
pamtmann on DSKBC07HB2PROD with BILLS
VerDate Sep 11 2014 
22:06 Nov 17, 2020
Jkt 019200
PO 00000
Frm 00041
Fmt 6652
Sfmt 6203
E:\BILLS\H4644.RH
H4644
pamtmann on DSKBC07HB2PROD with BILLS
Union Calendar No. 491 
116TH CONGRESS 
2D SESSION 
H. R. 4644 
[Report No. 116–594, Part I] 
A BILL 
To clarify United States policy toward Libya, ad-
vance a diplomatic solution to the conflict in 
Libya, and support the people of Libya. 
NOVEMBER 17, 2020 
Reported from the Committee on Foreign Affairs with an 
amendment 
NOVEMBER 17, 2020 
Committees on the Judiciary and Financial Services dis-
charged; committed to the Committee of the Whole 
House on the State of the Union and ordered to be 
printed 
VerDate Sep 11 2014 
22:06 Nov 17, 2020
Jkt 019200
PO 00000
Frm 00042
Fmt 6651
Sfmt 6651
E:\BILLS\H4644.RH
H4644
pamtmann on DSKBC07HB2PROD with BILLS