In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Enhancing Treasury's Anti-Terror
Tools Act''.

SEC. 2. EXAMINING THE DEPARTMENT OF THE TREASURY'S COUNTER-TERROR
FINANCING ROLE IN EMBASSIES.

Within 180 days of the enactment of this Act, the Secretary of the
Treasury shall issue a report to the Committees on Financial Services
and Foreign Affairs of the House of Representatives and the Committees
on Banking, Housing, and Urban Affairs and Foreign Relations of the
Senate containing--
(1) a list of the United States embassies in which a full-
time Department of the Treasury attache is stationed;
(2) a list of the United States embassies at which a
Department of the Treasury attache is assigned for temporary
duty, the length of such assignments, and the reason why such
assignments are not considered to be a permanent assignments;
(3) how the Department of the Treasury's interests relating
to anti-terror finance, money laundering, and related illicit
finance issues are handled at other embassies, including a
discussion of the reporting structure by which such issues are
brought to the direct attention of the ambassador;
(4) a description of the role the Department of the
Treasury attaches play in advancing America's anti-terrorism
financing interests;
(5) a discussion of patterns, trends, or other issues
identified by Department of the Treasury attaches in the
previous year concerning anti-terror finance, money laundering,
and related illicit finance;
(6) recommendations to improve coordination between the
Department of the Treasury and foreign financial ministries of
efforts to block the financing of terror, money laundering, and
related illicit finance; and
(7) a discussion of whether the Department of the
Treasury's interests relating to anti-terror finance, money
laundering, or related illicit finance issues are thought to be
under-represented in some embassies or regions.

SEC. 3. CLARIFYING REQUIREMENTS FOR RECORDKEEPING.

(a) In General.--Section 5326 of title 31, United States Code, is
amended--
(1) in the heading of such section, by striking ''coin and
currency'';
(2) in subsection (a)--
(A) by striking ''subtitle and'' and inserting
''subtitle or to''; and
(B) in paragraph (1)(A), by striking ''United
States coins or currency (or such other monetary
instruments as the Secretary may describe in such
order)'' and inserting ''funds (as the Secretary may
describe in such order),''; and
(3) in subsection (b)--
(A) in paragraph (1)(A), by striking ''coins or
currency (or monetary instruments)'' and inserting
''funds''; and
(B) in paragraph (2), by striking ''coins or
currency (or such other monetary instruments as the
Secretary may describe in the regulation or order)''
and inserting ''funds (as the Secretary may describe in
the regulation or order)''.
(b) Clerical Amendment.--The table of contents for chapter 53 of
title 31, United States Code, is amended in the item relating to
section 5326 by striking ''coin and currency''.

SEC. 4. STUDY OF BUREAU STATUS.

(a) Study.--The Secretary of the Treasury shall carry out a study
on the advisability and implications of transforming the Office of
Terrorism and Financial Intelligence into a standalone bureau of the
Department of the Treasury, and the effects such a move would have on
the Department of the Treasury's efforts to stop money laundering, the
financing of terror, and related illicit finance.
(b) Report.--Within 270 days of the date of the enactment of this
Act, the Secretary of the Treasury shall issue a report to the
Committee on Financial Services and the Permanent Select Committee on
Intelligence of the House of Representatives and the Committee on
Banking, Housing, and Urban Affairs and the Select Committee on
Intelligence of the Senate containing all findings and determinations
made in carrying out the study required under subsection (a).

SEC. 5. IMPROVING ANTI-TERROR FINANCE MONITORING OF FUNDS TRANSFERS.

(a) Study.--To improve the Department of the Treasury's ability to
better track cross-border fund transfers and identify potential
financing of terror or other illicit finance, the Secretary of the
Treasury shall carry out a study to assess--
(1) the potential efficacy of requiring banking regulators
to establish a pilot program to provide technical assistance to
depository institutions and credit unions that wish to provide
account services to money services businesses serving
individuals in Somalia;
(2) whether such a pilot program could be a model for
improving the ability of Americans to legitimately send funds
to their loved ones through transparent and easily monitored
channels; and
(3) the potential impact of allowing money services
businesses to share their State examinations with depository
institutions and credit unions, or if another mechanism could
be found to allow a similar exchange of information that would
give such depository institutions and credit unions a better
understanding of whether an individual money services business
is adequately meeting its anti-money laundering and counter
terror financing obligations to combat money laundering, the
financing of terror, or related illicit finance.
(b) Report.--Within 270 days of the date of the enactment of this
Act, the Secretary of the Treasury shall issue a report to the
Committees on Financial Services and Foreign Affairs of the House of
Representatives and the Committees on Banking, Housing, and Urban
Affairs and Foreign Relations of the Senate containing all findings and
determinations made in carrying out the study required under subsection
(a).
(c) Money Services Business Defined.--For purposes of this section,
the term ''money services business'' has the meaning given that term
under section 1010.100 of title 31, Code of Federal Regulations.

SEC. 6. SENSE OF CONGRESS.

It is the sense of the Congress that the Secretary of the Treasury,
acting in the Secretary's own capacity and through the Under Secretary
for Terrorism and Financial Crimes, should work with finance ministry
counterparts worldwide to spur the development within such ministries
of entities similar to the Department of the Treasury's Office of
Intelligence and Analysis to more solidly integrate the intelligence
community with anti-money laundering and counter-terrorist financing
efforts.

Passed the House of Representatives July 11, 2016.

Attest:

KAREN L. HAAS,

Clerk.
A:
Enhancing Treasury's Anti-Terror Tools Act (Sec. 2) This bill instructs the Department of the Treasury to report to Congress on the employment by U.S. embassies of full-time and temporary Treasury attaches and their role in advancing U.S. anti-terrorism financing interests, including concerning: how Treasury's interests relating to anti-terror finance, money laundering, and related illicit finance issues are handled at other embassies; issues identified by Treasury attaches concerning anti-terror finance, money laundering, and related illicit finance; recommendations to improve coordination between Treasury and foreign financial ministries of efforts to block the financing of terror, money laundering, and related illicit finance; and whether Treasury's interests relating to anti-terror finance, money laundering, or related illicit finance issues are thought to be underrepresented in some embassies or regions. (Sec. 3) The bill revises Treasury's authority to issue an order imposing recordkeeping and reporting requirements upon financial institutions and nonfinancial trade or business groups in certain geographic areas regarding transactions for the payment, receipt, or transfer of U.S. coins or currency (or other monetary instruments as Treasury may describe). Such an order may include all funds, not just U.S. coins or currency, involved in such transactions. (Sec. 4) Treasury shall study: the advisability and implications of transforming the Office of Terrorism and Financial Intelligence into a stand-alone bureau of Treasury, the potential efficacy of requiring banking regulators to establish a pilot technical assistance program for depository institutions and credit unions that furnish account services to money services businesses serving individuals in Somalia and whether it could improve the ability of Americans to legitimately send funds through transparent and easily monitored channels, and the potential impact of allowing money services businesses to share their state examinations with depository institutions and credit unions. (Sec. 6) The bill expresses the sense of Congress that Treasury should work with finance ministry counterparts worldwide to spur the development of entities similar to its Office of Intelligence and Analysis to integrate the intelligence community with anti-money laundering and counter-terrorist financing efforts.