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(C) knowingly engages in money laundering 
to carry out an activity described in subpara-
graph (A) or (B); or 
(D) knowingly facilitates a significant 
transaction or transactions or provides signifi-
cant financial services to carry out an activity 
described in subparagraph (A), (B), or (C). 
(3) PENALTIES.—The penalties provided for in 
subsections (b) and (c) of section 206 of the Inter-
national Emergency Economic Powers Act (50 U.S.C. 
1705) shall apply to a person that violates, attempts 
to violate, conspires to violate, or causes a violation 
of regulations prescribed under this subsection to the 
same extent that such penalties apply to a person that 
commits an unlawful act described in subsection (a) 
of such section 206. 
(4) PROCEDURES
FOR
JUDICIAL
REVIEW
OF 
CLASSIFIED INFORMATION.— 
(A) IN GENERAL.—If a finding under this 
subsection, or a prohibition, condition, or pen-
alty imposed as a result of any such finding, is 
based on classified information (as defined in 
section 1(a) of the Classified Information Proce-
dures Act (18 U.S.C. App.)) and a court reviews 
the finding or the imposition of the prohibition,
† HR 2297 EAS 
condition, or penalty, the President may submit 
such information to the court ex parte and in 
camera. 
(B) RULE OF CONSTRUCTION.—Nothing in 
this paragraph shall be construed to confer or 
imply any right to judicial review of any find-
ing under this subsection or any prohibition, 
condition, or penalty imposed as a result of any 
such finding. 
(b) WAIVER.— 
(1) IN GENERAL.—The President may waive, on 
a case-by-case basis, the application of a prohibition 
or condition imposed with respect to a foreign finan-
cial institution pursuant to subsection (a) for a pe-
riod of not more than 180 days, and may renew the 
waiver for additional periods of not more than 180 
days, on and after the date on which the President— 
(A) determines that such a waiver is in the 
national security interests of the United States; 
and 
(B) submits to the appropriate congres-
sional committees a report describing the reasons 
for such determination.
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(2) FORM.—The report required by paragraph 
(1)(B) shall be submitted in unclassified form, but 
may contain a classified annex. 
(c) SPECIAL RULE TO ALLOW FOR TERMINATION OF 
SANCTIONABLE ACTIVITY.—The President shall not be re-
quired to apply sanctions to a foreign financial institution 
described in subsection (a) if the President certifies in writ-
ing to the appropriate congressional committees that— 
(1) the foreign financial institution— 
(A) is no longer engaging in the activity de-
scribed in subsection (a)(2); or 
(B) has taken and is continuing to take sig-
nificant verifiable steps toward terminating the 
activity described in that subsection; and 
(2) the President has received reliable assurances 
from the government with primary jurisdiction over 
the foreign financial institution that the foreign fi-
nancial institution will not engage in any activity 
described in subsection (a)(2) in the future. 
(d) REPORT ON FOREIGN CENTRAL BANKS.— 
(1) IN GENERAL.—Not later than 90 days after 
the date of the enactment of this Act, and every 180 
days thereafter, the Secretary of the Treasury shall 
submit to the appropriate congressional committees a 
report that—
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(A) identifies each foreign central bank that 
the Secretary determines engages in one or more 
activities described in subsection (a)(2)(D); and 
(B) provides a detailed description of each 
such activity. 
(2) FORM OF REPORT.—Each report required by 
paragraph (1) shall be submitted in unclassified form, 
but may include a classified annex. 
(e) IMPLEMENTATION.—The President may exercise all 
authorities provided under sections 203 and 205 of the 
International Emergency Economic Powers Act (50 U.S.C. 
1702 and 1704) to carry out this section. 
(f) DEFINITIONS.— 
(1) IN GENERAL.—In this section: 
(A) ACCOUNT; CORRESPONDENT
ACCOUNT; 
PAYABLE-THROUGH
ACCOUNT.—The terms ‘‘ac-
count’’, ‘‘correspondent account’’, and ‘‘payable- 
through account’’ have the meanings given those 
terms in section 5318A of title 31, United States 
Code. 
(B) APPROPRIATE CONGRESSIONAL COMMIT-
TEES.—The term ‘‘appropriate congressional 
committees’’ means—
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(i) the Committee on Foreign Affairs 
and the Committee on Financial Services of 
the House of Representatives; and 
(ii) the Committee on Foreign Rela-
tions and the Committee on Banking, Hous-
ing, and Urban Affairs of the Senate. 
(C) FINANCIAL INSTITUTION.—The term ‘‘fi-
nancial institution’’ means a financial institu-
tion specified in subparagraph (A), (B), (C), 
(D), (E), (F), (G), (H), (I), (J), (K), (M), (N), 
(P), (R), (T), (Y), or (Z) of section 5312(a)(2) 
of title 31, United States Code. 
(D) FOREIGN
FINANCIAL
INSTITUTION.— 
The term ‘‘foreign financial institution’’ has the 
meaning given that term in section 1010.605 of 
title 31, Code of Federal Regulations. 
(E) HIZBALLAH.—The term ‘‘Hizballah’’ 
means— 
(i) the entity known as Hizballah and 
designated by the Secretary of State as a 
foreign terrorist organization pursuant to 
section 219 of the Immigration and Nation-
ality Act (8 U.S.C. 1189); or 
(ii) any person—
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(I) the property or interests in 
property of which are blocked pursuant 
to the International Emergency Eco-
nomic Powers Act (50 U.S.C. 1701 et 
seq.); and 
(II) who is identified on the list of 
specially designated nationals and 
blocked persons maintained by the Of-
fice of Foreign Assets Control of the 
Department of the Treasury as an 
agent, instrumentality, or affiliate of 
Hizballah. 
(F) 
MONEY
LAUNDERING.—The 
term 
‘‘money laundering’’ includes the movement of il-
licit cash or cash equivalent proceeds into, out of, 
or through a country, or into, out of, or through 
a financial institution. 
(2) OTHER
DEFINITIONS.—The President may 
further define the terms used in this section in the 
regulations prescribed under this section.
† HR 2297 EAS 
eign Narcotics Kingpin Designation Act (21 U.S.C. 
1901 et seq.); and 
(3) Government-wide efforts to combat the nar-
cotics trafficking activities of Hizballah. 
(c) APPROPRIATE CONGRESSIONAL COMMITTEES AND 
LEADERSHIP DEFINED.—In this section, the term ‘‘appro-
priate congressional committees and leadership’’ means— 
(1) the Speaker, the minority leader, the Com-
mittee on Foreign Affairs, the Committee on Finan-
cial Services, the Committee on the Judiciary, and 
the Permanent Select Committee on Intelligence of the 
House of Representatives; and 
(2) the majority leader, the minority leader, the 
Committee on Foreign Relations, the Committee on 
Banking, Housing, and Urban Affairs, the Committee 
on Finance, the Committee on the Judiciary, and the 
Select Committee on Intelligence of the Senate. 
SEC. 
202. 
REPORT 
AND 
BRIEFING 
ON 
SIGNIFICANT 
TRANSNATIONAL CRIMINAL ACTIVITIES OF 
HIZBALLAH. 
(a) REPORT.— 
(1) IN GENERAL.—Not later than 120 days after 
the date of the enactment of this Act, the President 
shall submit to the appropriate congressional commit-
tees and leadership a report on the significant
† HR 2297 EAS 
transnational criminal activities of Hizballah, in-
cluding human trafficking. 
(2) FORM.—The report required by paragraph 
(1) shall be submitted in unclassified form to the 
greatest extent possible, but may include a classified 
annex. 
(b) BRIEFING.—Not later than 30 days after the sub-
mission of the report required by subsection (a), the Presi-
dent shall provide to the appropriate congressional commit-
tees and leadership a briefing on— 
(1) the report; 
(2) procedures for designating Hizballah as a 
significant 
transnational 
criminal 
organization 
under Executive Order 13581 (75 Fed. Reg. 44,757); 
and 
(3) Government-wide efforts to combat the 
transnational criminal activities of Hizballah. 
(c) APPROPRIATE CONGRESSIONAL COMMITTEES AND 
LEADERSHIP DEFINED.—In this section, the term ‘‘appro-
priate congressional committees and leadership’’ means— 
(1) the Speaker, the minority leader, the Com-
mittee on Foreign Affairs, the Committee on Finan-
cial Services, the Committee on the Judiciary, and 
the Permanent Select Committee on Intelligence of the 
House of Representatives; and
† HR 2297 EAS 
(2) the majority leader, the minority leader, the 
Committee on Foreign Relations, the Committee on 
Banking, Housing, and Urban Affairs, the Committee 
on Finance, the Committee on the Judiciary, and the 
Select Committee on Intelligence of the Senate. 
SEC. 203. REWARDS FOR JUSTICE AND HIZBALLAH’S FUND-
RAISING, FINANCING, AND MONEY LAUN-
DERING ACTIVITIES. 
(a) REPORT.—Not later than 90 days after the date 
of the enactment of this Act, the Secretary of State shall 
submit to the appropriate congressional committees a report 
that details actions taken by the Department of State 
through the Department of State rewards program under 
section 36 of the State Department Basic Authorities Act 
(22 U.S.C. 2708) to obtain information on fundraising, fi-
nancing, and money laundering activities of Hizballah and 
its agents and affiliates. 
(b) BRIEFING.—Not later than 90 days after the date 
of the enactment of this Act, and annually thereafter, the 
Secretary of State shall provide a briefing to the appro-
priate congressional committees on the status of the actions 
described in subsection (a). 
(c) APPROPRIATE CONGRESSIONAL COMMITTEES DE-
FINED.—In this section, the term ‘‘appropriate congres-
sional committees’’ means—
† HR 2297 EAS 
(1) the Committee on Foreign Affairs and the 
Committee on Financial Services of the House of Rep-
resentatives; and 
(2) the Committee on Foreign Relations and the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate. 
SEC. 204. REPORT ON ACTIVITIES OF FOREIGN GOVERN-
MENTS TO DISRUPT GLOBAL LOGISTICS NET-
WORKS AND FUNDRAISING, FINANCING, AND 
MONEY 
LAUNDERING 
ACTIVITIES 
OF 
HIZBALLAH. 
(a) REPORT.— 
(1) IN GENERAL.—Not later than 90 days after 
the date of the enactment of this Act, the President 
shall submit to the appropriate congressional commit-
tees a report that includes— 
(A) a list of countries that support 
Hizballah or in which Hizballah maintains im-
portant portions of its global logistics networks; 
(B) with respect to each country on the list 
required by subparagraph (A)— 
(i) an assessment of whether the gov-
ernment of the country is taking adequate 
measures to disrupt the global logistics net-
† HR 2297 EAS 
works of Hizballah within the territory of 
the country; and 
(ii) in the case of a country the govern-
ment of which is not taking adequate meas-
ures to disrupt such networks— 
(I) an assessment of the reasons 
that government is not taking such 
adequate measures; and 
(II) a description of measures 
being taken by the United States to en-
courage that government to improve 
measures to disrupt such networks; 
(C) a list of countries in which Hizballah, 
or any of its agents or affiliates, conducts sig-
nificant fundraising, financing, or money laun-
dering activities; 
(D) with respect to each country on the list 
required by subparagraph (C)— 
(i) an assessment of whether the gov-
ernment of the country is taking adequate 
measures to disrupt the fundraising, financ-
ing, or money laundering activities of 
Hizballah and its agents and affiliates 
within the territory of the country; and
† HR 2297 EAS 
(ii) in the case of a country the govern-
ment of which is not taking adequate meas-
ures to disrupt such activities— 
(I) an assessment of the reasons 
that government is not taking such 
adequate measures; and 
(II) a description of measures 
being taken by the United States to en-
courage that government to improve 
measures to disrupt such activities; 
and 
(E) a list of methods that Hizballah, or any 
of its agents or affiliates, utilizes to raise or 
transfer funds, including trade-based money 
laundering, the use of foreign exchange houses, 
and free-trade zones. 
(2) FORM.—The report required by paragraph 
(1) shall be submitted in unclassified form to the 
greatest extent possible, and may contain a classified 
annex. 
(3) 
GLOBAL
LOGISTICS
NETWORKS
OF 
HIZBALLAH.—In this subsection, the term ‘‘global lo-
gistics networks of Hizballah’’, ‘‘global logistics net-
works’’, or ‘‘networks’’ means financial, material, or
† HR 2297 EAS 
technological support for, or financial or other serv-
ices in support of, Hizballah. 
(b) BRIEFING ON HIZBALLAH’S ASSETS AND ACTIVI-
TIES RELATED TO FUNDRAISING, FINANCING, AND MONEY 
LAUNDERING WORLDWIDE.—Not later than 90 days after 
the date of the enactment of this Act, and every 180 days 
thereafter, the Secretary of State, the Secretary of the Treas-
ury, and the heads of other applicable Federal departments 
and agencies shall provide to the appropriate congressional 
committees a briefing on the disposition of Hizballah’s as-
sets and activities related to fundraising, financing, and 
money laundering worldwide. 
(c) APPROPRIATE CONGRESSIONAL COMMITTEES DE-
FINED.—In this section, the term ‘‘appropriate congres-
sional committees’’ means— 
(1) the Committee on Foreign Affairs, the Com-
mittee on Financial Services, and the Permanent Se-
lect Committee on Intelligence of the House of Rep-
resentatives; and 
(2) the Committee on Foreign Relations, the 
Committee on Banking, Housing, and Urban Affairs, 
and the Select Committee on Intelligence of the Sen-
ate.
† HR 2297 EAS 
TITLE III—MISCELLANEOUS 
PROVISIONS 
SEC. 301. RULE OF CONSTRUCTION. 
Nothing in this Act or any amendment made by this 
Act shall apply to the authorized intelligence activities of 
the United States. 
SEC. 302. REGULATORY AUTHORITY. 
(a) IN GENERAL.—The President shall, not later than 
120 days after the date of the enactment of this Act, promul-
gate regulations as necessary for the implementation of this 
Act and the amendments made by this Act. 
(b) NOTIFICATION TO CONGRESS.—Not less than 10 
days before the promulgation of regulations under sub-
section (a), the President shall notify the appropriate con-
gressional committees of the proposed regulations and the 
provisions of this Act and the amendments made by this 
Act that the regulations are implementing. 
(c) APPROPRIATE CONGRESSIONAL COMMITTEES DE-
FINED.—In this section, the term ‘‘appropriate congres-
sional committees’’ means— 
(1) the Committee on Foreign Affairs and the 
Committee on Financial Services of the House of Rep-
resentatives; and
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(2) the Committee on Foreign Relations and the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate. 
SEC. 303. TERMINATION. 
This Act shall terminate on the date that is 30 days 
after the date on which the President certifies to Congress 
that Hizballah— 
(1) is no longer designated as a foreign terrorist 
organization pursuant to section 219 of the Immigra-
tion and Nationality Act (8 U.S.C. 1189); and 
(2) is no longer designated for the imposition of 
sanctions pursuant to Executive Order 13224 (50 
U.S.C. 1701 note; relating to blocking property and 
prohibiting transactions with persons who commit, 
threaten to commit, or support terrorism). 
Amend the title so as to read: ‘‘An Act to prevent 
Hizballah and associated entities from gaining access to 
international financial and other institutions, and for 
other purposes.’’. 
Attest: 
Secretary.