HR 4644 RFS
framework described in subsection (a) shall include the 
following policy proposals: 
(1) To restore, respect, and safeguard the in-
tegrity, unity, and lawful governance of Libya’s key 
economic ministries and institutions, in particular 
the Central Bank of Libya, the Libya Investment 
Authority, the National Oil Corporation, and the 
Audit Bureau (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 sec-
tor enterprise. 
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(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. 
(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 
described in subsection (a), the Secretary of the Treasury 
shall instruct the United States Executive Director at each 
international financial institution to encourage the institu-
tion to consult with relevant stakeholders in the financial, 
governance, and energy sectors. 
(d) DEFINITION OF INTERNATIONAL FINANCIAL IN-
STITUTION.—In this section, the term ‘‘international fi-
nancial institution’’ means the International Monetary 
Fund, International Bank for Reconstruction and Devel-
opment, European Bank for Reconstruction and Develop-
ment, International Development Association, Inter-
national Finance Corporation, Multilateral Investment 
Guarantee Agency, African Development Bank, African 
Development Fund, Asian Development Bank, Inter- 
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American Development Bank, Bank for Economic Co-
operation and Development in the Middle East and North 
Africa, and Inter-American Investment Corporation. 
(e) TERMINATION.—The requirements of this section 
shall cease to be effective on December 31, 2024. 
SEC. 304. RECOVERING ASSETS STOLEN FROM THE LIBYAN 
PEOPLE. 
(a) SENSE OF CONGRESS.—It is the sense of Con-
gress 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 pursu-
ant to paragraph (1); and 
(C) to provide technical assistance to help 
governments establish the necessary legal 
framework to carry out asset forfeitures. 
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(b) ADDITIONAL ELEMENTS.—The coordinated inter-
national effort described in subsection (a) should include 
input from— 
(1) the Office of Terrorist Financing and Fi-
nancial Crimes of the Department of the Treasury; 
(2) the Financial Crimes Enforcement Network 
of the Department of the Treasury; and 
(3) the Money Laundering and Asset Recovery 
Section of the Department of Justice. 
TITLE IV—DETERMINATION OF 
BUDGETARY EFFECTS 
SEC. 401. DETERMINATION OF BUDGETARY EFFECTS. 
The budgetary effects of this Act, for the purpose of 
complying with the Statutory Pay-As-You-Go Act of 2010, 
shall be determined by reference to the latest statement 
titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this 
Act, submitted for printing in the Congressional Record 
by the Chairman of the House Budget Committee, pro-
vided that such statement has been submitted prior to the 
vote on passage. 
Passed the House of Representatives November 18, 
2020. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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