The INCSR Improvement Act

Bill: 117-hr-8798
Sponsor: full_name: Rep. Waters, Maxine [D-CA-43]
Introduced: 2022-09-09
Policy area: International Affairs
Latest action: action_date: 2022-09-09
text: Referred to the House Committee on Foreign Affairs.

Summaries:
action_date: 2022-09-09
action_desc: Introduced in House
text: <p class="MsoNormal"><b>The INCSR Improvement Act</b></p> <p class="MsoNormal">This bill adds a requirement to the President's annual international narcotics control strategy report, which currently includes information on adoption of law and regulations to prevent narcotics-related money laundering in countries determined to be major money laundering countries. The additional requirement is to provide examples of improvement in each country in preventing narcotics-related money laundering, where such information is available.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 8798 IN THE HOUSE OF REPRESENTATIVES September 9, 2022 Ms. Waters introduced the following bill; which was referred to the Committee on Foreign Affairs A BILL To require the reporting of certain improvements in the International Narcotics Control Strategy Report, and for other purposes.

1. Short title This Act may be cited as the The INCSR Improvement Act . 2. Improvements by countries in combating narcotics-related money laundering Section 489(a)(7) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2291h(a)(7) ) is amended— (1) in the matter before subparagraph (A), by striking paragraph (3)(D) and inserting paragraph (3)(C) ; and (2) by inserting after subparagraph (C) the following: (D) Where the information is available, examples of improvements in each country related to the findings described in each of clauses (i) through (viii) of subparagraph (C), such as— (i) actions taken by the country due to each country’s adoption of law and regulations considered essential to prevent narcotics-related money laundering; (ii) enhanced enforcement actions taken by the country, such as regulatory penalties, criminal prosecutions and convictions, and asset seizures and forfeitures; (iii) status changes in international financial crime-related evaluations; (iv) other descriptions that are representative of efforts to enhance the prevention of narcotics-related money laundering; and (v) if applicable, bilateral, multilateral, and regional initiatives which have been undertaken to prevent narcotics-related money laundering. .