To require the Secretary of the Treasury to direct the United States Executive Director at the International Monetary Fund to support the capacity of the International Monetary Fund to prevent money laundering and financing of terrorism.

Bill: 114-hr-5469
Sponsor: full_name: Rep. Pearce, Stevan [R-NM-2]
Introduced: 2016-06-14
Policy area: International Affairs
Subjects: Congressional oversight

Fraud offenses and financial crimes

International monetary system and foreign exchange

Multilateral development programs

Terrorism
Latest action: action_date: 2016-07-12
text: Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Summaries:
action_date: 2016-06-14
action_desc: Introduced in House
text: <p>This bill amends the International Financial Institutions Act to require the Department of the Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism; and (2) report, within one year, on the effectiveness of such assistance, on the efficacy of U.S. efforts to achieve such policy goal, and on any further actions needed.</p>

action_date: 2016-07-11
action_desc: Passed House without amendment
text: <p>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</p> <p>(Sec. 1) This bill amends the International Financial Institutions Act to require the Department of the Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism; and (2) report, within one year, on the effectiveness of such assistance, on the efficacy of U.S. efforts to achieve such policy goal, and on any further actions needed.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5469 IN THE HOUSE OF REPRESENTATIVES June 14, 2016 Mr. Pearce (for himself and Ms. Moore ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Secretary of the Treasury to direct the United States Executive Director at the International Monetary Fund to support the capacity of the International Monetary Fund to prevent money laundering and financing of terrorism.

1. Support for capacity of the International Monetary Fund to prevent money laundering and financing of terrorism (a) In general Title XVI of the International Financial Institutions Act (22 U.S.C. 262p—262p–12) is amended by adding at the end the following: 1629. Support for capacity of the International Monetary Fund to prevent money laundering and financing of terrorism The Secretary of the Treasury shall instruct the United States Executive Director at the International Monetary Fund to support the use of the administrative budget of the Fund for technical assistance that strengthens the capacity of Fund members to prevent money laundering and the financing of terrorism. . (b) Report to the Congress Within 1 year after the date of the enactment of this Act, the Secretary of the Treasury shall report to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate on— (1) the activities of the Fund in the most recently completed fiscal year to provide technical assistance that strengthens the capacity of Fund members to prevent money laundering and the financing of terrorism, and the effectiveness of the assistance; and (2) the efficacy of efforts by the United States to achieve the policy goal described in this section and any further actions that need to be taken to implement this goal.

tv_txt: I 114th CONGRESS 2d Session H. R. 5469 IN THE HOUSE OF REPRESENTATIVES AN ACT To require the Secretary of the Treasury to direct the United States Executive Director at the International Monetary Fund to support the capacity of the International Monetary Fund to prevent money laundering and financing of terrorism.

1. Support for capacity of the International Monetary Fund to prevent money laundering and financing of terrorism (a) In general Title XVI of the International Financial Institutions Act (22 U.S.C. 262p through 262p–12) is amended by adding at the end the following: 1629. Support for capacity of the International Monetary Fund to prevent money laundering and financing of terrorism The Secretary of the Treasury shall instruct the United States Executive Director at the International Monetary Fund to support the use of the administrative budget of the Fund for technical assistance that strengthens the capacity of Fund members to prevent money laundering and the financing of terrorism. . (b) Report to the Congress Within 1 year after the date of the enactment of this Act, the Secretary of the Treasury shall report to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate on— (1) the activities of the Fund in the most recently completed fiscal year to provide technical assistance that strengthens the capacity of Fund members to prevent money laundering and the financing of terrorism, and the effectiveness of the assistance; and (2) the efficacy of efforts by the United States to achieve the policy goal described in this section and any further actions that need to be taken to implement this goal.

Passed the House of Representatives July 11, 2016. Karen L. Haas, Clerk.

tv_txt: IIB 114th CONGRESS 2d Session H. R. 5469 IN THE SENATE OF THE UNITED STATES July 12, 2016 Received; read twice and referred to the Committee on Foreign Relations AN ACT To require the Secretary of the Treasury to direct the United States Executive Director at the International Monetary Fund to support the capacity of the International Monetary Fund to prevent money laundering and financing of terrorism.

1. Support for capacity of the International Monetary Fund to prevent money laundering and financing of terrorism (a) In general Title XVI of the International Financial Institutions Act (22 U.S.C. 262p through 262p–12) is amended by adding at the end the following: 1629. Support for capacity of the International Monetary Fund to prevent money laundering and financing of terrorism The Secretary of the Treasury shall instruct the United States Executive Director at the International Monetary Fund to support the use of the administrative budget of the Fund for technical assistance that strengthens the capacity of Fund members to prevent money laundering and the financing of terrorism. . (b) Report to the Congress Within 1 year after the date of the enactment of this Act, the Secretary of the Treasury shall report to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate on— (1) the activities of the Fund in the most recently completed fiscal year to provide technical assistance that strengthens the capacity of Fund members to prevent money laundering and the financing of terrorism, and the effectiveness of the assistance; and (2) the efficacy of efforts by the United States to achieve the policy goal described in this section and any further actions that need to be taken to implement this goal.

Passed the House of Representatives July 11, 2016. Karen L. Haas, Clerk