Vladimir Putin Transparency Act

Bill: 116-hr-1404
Sponsor: full_name: Rep. Demings, Val Butler [D-FL-10]
Introduced: 2019-02-27
Policy area: Armed Forces and National Security
Subjects: Bank accounts, deposits, capital

Congressional oversight

Corporate finance and management

Diplomacy, foreign officials, Americans abroad

Foreign and international banking

Foreign and international corporations

Fraud offenses and financial crimes

Government ethics and transparency, public corruption

Government studies and investigations

Intelligence activities, surveillance, classified information

Real estate business

Rule of law and government transparency

Russia

Sovereignty, recognition, national governance and status
Latest action: action_date: 2019-03-13
text: Received in the Senate and Read twice and referred to the Select Committee on Intelligence.

Summaries:
action_date: 2019-02-27
action_desc: Introduced in House
text: <p><b>Vladimir Putin Transparency Act</b></p> <p>This bill directs the Office of the Director of National Intelligence to report to Congress about Russian President Vladimir Putin. The report shall address topics including (1) Putin's estimated net worth and known sources of income; (2) intermediaries, including shell companies, that he uses; and (3) the identities of the most significant Russian senior officials and oligarchs who facilitate his corrupt acts.<br> </p>

action_date: 2019-03-12
action_desc: Passed House
text: <p><b>Vladimir Putin Transparency Act</b></p> <p>This bill directs the Office of the Director of National Intelligence to report to Congress about Russian President Vladimir Putin. The report shall address topics including (1) Putin's estimated net worth and known assets; (2) methods he uses to conceal his assets, such as intermediaries and shell companies; and (3) the identities of the most significant Russian senior officials and oligarchs who help Putin hide his true financial condition.<br> </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 1404 IN THE HOUSE OF REPRESENTATIVES February 27, 2019 Mrs. Demings (for herself and Ms. Stefanik ) introduced the following bill; which was referred to the Permanent Select Committee on Intelligence , and in addition to the Committees on Foreign Affairs , and Financial Services , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To strengthen the United States response to Russian interference by providing transparency on the corruption of Russian President Vladimir Putin.

1. Short title This Act may be cited as the Vladimir Putin Transparency Act . 2. Findings Congress finds the following: (1) According to an Intelligence Community Assessment dated January 6, 2017, Russian President Vladimir Putin ordered an influence campaign in 2016 aimed at the US presidential election. Russia’s goals were to undermine public faith in the US democratic process … Moscow’s influence campaign followed a Russian messaging strategy that blends covert intelligence operations—such as cyber activity—with overt efforts by Russian Government agencies, state-funded media, third-party intermediaries, and paid social media users or trolls . . (2) According to the indictment issued by the Attorney General on February 16, 2018, Russian actors conspired to defraud the United States by impairing, obstructing, and defeating the lawful functions of the government through fraud and deceit for the purpose of interfering with the U.S. political and electoral processes, including the presidential election of 2016 . (3) Notwithstanding the enactment of the Countering Adversaries of America through Sanctions Act of 2017 ( Public Law 115–44 ), Russia continues to support efforts to sow and exacerbate divisions among Americans, and to undermine democratic societies around the world. (4) The government of Russian President Vladimir Putin employs a system of corruption and illicit financial ties as a tool for consolidating its domestic political control and projecting power abroad to weaken other democratic countries. (5) Russia has also significantly stepped up its efforts to confront the United States and its allies politically and militarily, and to counter American influence worldwide, including by the following: (A) Invading and illegally occupying Crimea. (B) Intervening in and occupying parts of eastern Ukraine. (C) Deploying substantial military forces and undertaking a ruthless bombing campaign in Syria to prop up the regime of Bashar al-Assad and defeat the American-supported opposition. (D) Significantly expanding its armed forces and deploying missiles in violation of treaty commitments. (E) Undertaking large military exercises designed to intimidate other countries. (F) Interfering in the political systems of democracies around the world. (G) Using the threat of cutting off gas supplies as leverage over the most energy-dependent European countries. 3. Report on Kremlin-linked corruption (a) Sense of congress It is the sense of Congress that— (1) the intelligence community should dedicate resources to further expose key networks that the corrupt political class in Russia uses to hide the money it steals; (2) the President should pursue efforts to stifle Russian use of hidden financial channels, including anonymous shell companies and real estate investments, in a manner similar to the efforts undertaken to tighten banking regulations after the terrorist attacks on September 11, 2001; and (3) the United States should do more to expose the corruption of Vladimir Putin, whose ill-gotten wealth is the most powerful symbol of the corrupt nature of his government. (b) Report Not later than 180 days after the date of the enactment of this Act, the Director of National Intelligence, in coordination with the Secretary of the Treasury and the Secretary of State, shall submit to the appropriate congressional committees a report on the personal net worth of and assets owned by Russian President Vladimir Putin, including— (1) the estimated net worth and known sources of income of Vladimir Putin and his family members, including assets, investments, bank accounts, other business interests, and relevant beneficial ownership information; (2) with respect to bank accounts, real estate holdings, and other financial assets, including those outside of Russia, that are owned by or accessible to Putin— (A) the location of such accounts, holdings, or assets; and (B) the contents of such accounts or the amount held through such holdings or assets; (3) any front or shell companies, or other intermediaries, used by Vladimir Putin to hide assets from public disclosure; and (4) an identification of the most significant senior Russian political figures and oligarchs who facilitate the corrupt practices of Vladimir Putin. (c) Form The report required by subsection (b) shall be submitted in unclassified form but may include a classified annex. (d) Appropriate congressional committees defined In this section, the term appropriate congressional committees means— (1) the Committee on Foreign Affairs, the Committee on Financial Services, and the Committee on Ways and Means of the House of Representatives; and (2) the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, and the Committee on Finance of the Senate.

tv_txt: I 116th CONGRESS 1st Session H. R. 1404 IN THE HOUSE OF REPRESENTATIVES AN ACT To strengthen the United States response to Russian interference by providing transparency on the corruption of Russian President Vladimir Putin.

1. Short title This Act may be cited as the Vladimir Putin Transparency Act . 2. Findings Congress finds the following: (1) According an Intelligence Community Assessment dated January 6, 2017, Russian President Vladimir Putin ordered an influence campaign in 2016 aimed at the U.S. presidential election. Russia’s goals were to undermine public faith in the US democratic process * * * Moscow’s influence campaign followed a Russian messaging strategy that blends covert intelligence operations—such as cyber activity—with overt efforts by Russian Government agencies, state-funded media, third-party intermediaries, and paid social media users or trolls. . (2) According to the Washington Post, official, public reports from the Russian government put Putin’s average annual income between 2011 and 2016 at approximately $112,000. But outside experts nevertheless have alleged that Putin’s true net worth is in the billions—suggesting his extensive corruption and connection to money laundering and other activities undertaken order to enrich Putin unjustly and to hide his true financial condition from the public. 3. Assessment exposing the corruption of Vladimir Putin (a) Sense of congress It is the sense of Congress that the United States should do more to expose the corruption of Vladimir Putin, whose ill-gotten wealth is perhaps the most powerful global symbol of his dishonesty and his persistent efforts to undermine the rule of law and democracy in the Russian Federation. (b) Assessment Not later than 180 days after the date of the enactment of this Act, the Director of National Intelligence, in coordination with the Secretary of Treasury and the Secretary of State, shall submit to the appropriate congressional committees an assessment, based on all sources of intelligence, on the net worth and financial and other assets of Russian President Vladimir Putin and his family members, legitimate as well as illegitimate, including— (1) the estimated net worth of Vladimir Putin and his family members; (2) a description of their legitimately and illegitimately obtained assets, including all real, personal and intellectual property, bank or investment or similar accounts, and any other financial or business interests or holdings, including those outside of Russia; (3) the details of the legitimately and illegitimately obtained assets, including real, personal and intellectual property, bank or investment or similar accounts, and any other financial or business interests or holdings, including those outside of Russia, that are owned or controlled by, accessible to, or otherwise maintained for the benefit of Vladimir Putin, including their nature, location, manner of acquisition, value, and publicly named owner (if other than Vladimir Putin); (4) the methods used by Vladimir Putin or others acting at his direction, with his knowledge, or for his benefit, to conceal Putin’s interest in his accounts, holdings, or other assets, including the establishment of front or shell companies and the use of intermediaries; and (5) an identification of the most significant senior Russian political figures, oligarchs, and any other persons who have engaged in activity intended to conceal the true financial condition of Vladimir Putin. (c) Form The assessment required under subsection (b) shall be submitted either— (1) in unclassified form to the extent consistent with the protection of intelligence sources and methods, and may include a classified annex; or (2) simultaneously as both an unclassified version and a classified version. (d) Appropriate congressional committees defined In this section, the term appropriate congressional committees means— (1) the Select Committee on Intelligence, the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, and the Committee on Finance of the Senate; and (2) the Permanent Select Committee on Intelligence, Committee on Foreign Affairs, the Committee on Financial Services, and the Committee on Ways and Means of the House of Representatives.

Passed the House of Representatives March 12, 2019. Cheryl L. Johnson, Clerk.

tv_txt: IIB 116th CONGRESS 1st Session H. R. 1404 IN THE SENATE OF THE UNITED STATES March 13, 2019 Received; read twice and referred to the Select Committee on Intelligence AN ACT To strengthen the United States response to Russian interference by providing transparency on the corruption of Russian President Vladimir Putin.

1. Short title This Act may be cited as the Vladimir Putin Transparency Act . 2. Findings Congress finds the following: (1) According an Intelligence Community Assessment dated January 6, 2017, Russian President Vladimir Putin ordered an influence campaign in 2016 aimed at the U.S. presidential election. Russia’s goals were to undermine public faith in the US democratic process * * * Moscow’s influence campaign followed a Russian messaging strategy that blends covert intelligence operations—such as cyber activity—with overt efforts by Russian Government agencies, state-funded media, third-party intermediaries, and paid social media users or trolls. . (2) According to the Washington Post, official, public reports from the Russian government put Putin’s average annual income between 2011 and 2016 at approximately $112,000. But outside experts nevertheless have alleged that Putin’s true net worth is in the billions—suggesting his extensive corruption and connection to money laundering and other activities undertaken order to enrich Putin unjustly and to hide his true financial condition from the public. 3. Assessment exposing the corruption of Vladimir Putin (a) Sense of congress It is the sense of Congress that the United States should do more to expose the corruption of Vladimir Putin, whose ill-gotten wealth is perhaps the most powerful global symbol of his dishonesty and his persistent efforts to undermine the rule of law and democracy in the Russian Federation. (b) Assessment Not later than 180 days after the date of the enactment of this Act, the Director of National Intelligence, in coordination with the Secretary of Treasury and the Secretary of State, shall submit to the appropriate congressional committees an assessment, based on all sources of intelligence, on the net worth and financial and other assets of Russian President Vladimir Putin and his family members, legitimate as well as illegitimate, including— (1) the estimated net worth of Vladimir Putin and his family members; (2) a description of their legitimately and illegitimately obtained assets, including all real, personal and intellectual property, bank or investment or similar accounts, and any other financial or business interests or holdings, including those outside of Russia; (3) the details of the legitimately and illegitimately obtained assets, including real, personal and intellectual property, bank or investment or similar accounts, and any other financial or business interests or holdings, including those outside of Russia, that are owned or controlled by, accessible to, or otherwise maintained for the benefit of Vladimir Putin, including their nature, location, manner of acquisition, value, and publicly named owner (if other than Vladimir Putin); (4) the methods used by Vladimir Putin or others acting at his direction, with his knowledge, or for his benefit, to conceal Putin’s interest in his accounts, holdings, or other assets, including the establishment of front or shell companies and the use of intermediaries; and (5) an identification of the most significant senior Russian political figures, oligarchs, and any other persons who have engaged in activity intended to conceal the true financial condition of Vladimir Putin. (c) Form The assessment required under subsection (b) shall be submitted either— (1) in unclassified form to the extent consistent with the protection of intelligence sources and methods, and may include a classified annex; or (2) simultaneously as both an unclassified version and a classified version. (d) Appropriate congressional committees defined In this section, the term appropriate congressional committees means— (1) the Select Committee on Intelligence, the Committee on Foreign Relations, the Committee on Banking, Housing, and Urban Affairs, and the Committee on Finance of the Senate; and (2) the Permanent Select Committee on Intelligence, Committee on Foreign Affairs, the Committee on Financial Services, and the Committee on Ways and Means of the House of Representatives.

Passed the House of Representatives March 12, 2019. Cheryl L. Johnson, Clerk.