H. R. 1756—8
‘‘§ 5353. Information collection and dissemination with
respect to grant recipients
‘‘(a) APPLICANT AND GRANTEE INFORMATION.—
‘‘(1) APPLICATION
PROCESS.—The Secretary shall issue
requests for proposal, as necessary, regarding, with respect
to the grants awarded under section 5352, the application proc-
ess, grant renewal, and suspension or withholding of renewal
grants. Each application under this paragraph shall be in writ-
ing and shall be subject to review by the Secretary.
‘‘(2) REPORTING.—The Secretary shall, to the maximum
extent practicable and in a manner consistent with applicable
law, minimize reporting requirements by a grant recipient and
expedite any application for a renewal grant made under this
part.
‘‘(b) ACTIVITIES OF SECRETARY.—The Secretary may—
‘‘(1) evaluate the utility of specific initiatives relating to
the purposes of the program;
‘‘(2) conduct an evaluation of the program; and
‘‘(3) disseminate information described in this subsection
to—
‘‘(A) eligible State local law enforcement agencies or
prosecutors; and
‘‘(B) the general public.
‘‘§ 5354. Grants for fighting money laundering and related
financial crimes
‘‘(a) IN GENERAL.— After the end of the 1-year period beginning
on the date the first national strategy for combating money launder-
ing and related financial crimes is submitted to the Congress in
accordance with section 5341, and subject to subsection (b), the
Secretary may review, select, and award grants for State or local
law enforcement agencies and prosecutors to provide funding nec-
essary to investigate and prosecute money laundering and related
financial crimes in high-risk money laundering and related financial
crime areas.
‘‘(b) SPECIAL PREFERENCE.—Special preference shall be given
to applications submitted to the Secretary which demonstrate
collaborative efforts of two or more State and local law enforcement
agencies or prosecutors who have a history of Federal, State, and
local cooperative law enforcement and prosecutorial efforts in
responding to such criminal activity.
‘‘§ 5355. Authorization of appropriations
‘‘There are authorized to be appropriated the following amounts
for the following fiscal years to carry out the purposes of this
subchapter:
‘‘For fiscal year:
The amount authorized is:
1999 .....................................................
$5,000,000.
2000 .....................................................
$7,500,000.
2001 .....................................................
$10,000,000.
2002 .....................................................
$12,500,000.
2003 .....................................................
$15,000,000.’’.
(b) CLERICAL AMENDMENT.—The table of subchapters for chap-
ter 53 of title 31, United States Code, is amended by adding at
the end the following item:
H. R. 1756—9
‘‘SUBCHAPTER III—MONEY LAUNDERING AND RELATED FINANCIAL
CRIMES
‘‘5340. Definitions.
‘‘PART 1—NATIONAL MONEY LAUNDERING AND RELATED FINANCIAL CRIMES
STRATEGY
‘‘5341. National money laundering and related financial crimes strategy.
‘‘5342. High-risk money laundering and related financial crime areas.
‘‘PART 2—FINANCIAL CRIME-FREE COMMUNITIES SUPPORT PROGRAM
‘‘5351. Establishment of financial crime-free communities support program.
‘‘5352. Program authorization.
‘‘5353. Information collection and dissemination with respect to grant recipients.
‘‘5354. Grants for fighting money laundering and related financial crimes.
‘‘5355. Authorization of appropriations.’’.
(c) REPORT
AND RECOMMENDATIONS.—Before the end of the
5-year period beginning on the date the first national strategy
for combating money laundering and related financial crimes is
submitted to the Congress pursuant to section 5341(a)(1) of title
31, United States Code (as added by section 2(a) of this Act),
the Secretary of the Treasury, in consultation with the Attorney
General, shall submit a report to the Committee on Banking and
Financial Services and the Committee on the Judiciary of the House
of Representatives and the Committee on Banking, Housing, and
Urban Affairs and the Committee on the Judiciary of the Senate
on the effectiveness of and the need for the designation of areas,
under section 5342 of title 31, United States Code (as added by
such section 2(a)), as high-risk money laundering and related finan-
cial crime areas, together with recommendations for such legislation
as the Secretary and the Attorney General may determine to be
appropriate to carry out the purposes of such section.
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.