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SECTION 1. SHORT TITLE.

This Act may be cited as the ''Improving Economic Sanctions Act of
2016''.

SEC. 2. ESTABLISHMENT OF AN ECONOMIC SANCTIONS STRATEGY, COORDINATION,
AND PLANNING GROUP.

(a) In General.--Subchapter I of chapter 3 of subtitle I of title
31, United States Code, is amended by adding at the end the following
new section:
''Sec. 316. Economic Sanctions Strategy, Coordination, and Planning
Group
''(a) Establishment.--There is established within the Department of
the Treasury an Economic Sanctions Strategy, Coordination, and Planning
Group (in this section referred to as the 'Group'), which shall--
''(1) be within the Office of Terrorism and Financial
Intelligence; and
''(2) report directly to the Secretary of the Treasury.
''(b) Membership.--The members of the Group shall include--
''(1) the Undersecretary of the Treasury for Terrorism and
Financial Crimes, who shall serve as chairperson of the Group;
and
''(2) a senior level representative (selected by the
Undersecretary for Terrorism and Financial Crimes) from each of
the following offices and bureau of the Department of the
Treasury:
''(A) The Office of International Affairs.
''(B) The Office of Economic Policy.
''(C) The Office of Legislative Affairs.
''(D) The Office of Foreign Assets Control.
''(E) The Office of Intelligence and Analysis.
''(F) The Office of Terrorist Financing.
''(G) The Financial Crimes Enforcement Network.
''(c) Functions.--
''(1) Contingency planning.--
''(A) In general.--The Group shall conduct
contingency planning to enable the Office of Foreign
Assets Control to rapidly impose, monitor, and enforce
an economic sanctions program against a foreign country
or entity pursuant to the authority of the
International Emergency Economic Powers Act (50 U.S.C.
1701 et seq.) or any other provision of law.
''(B) Considerations.--The contingency planning
required under subparagraph (A) shall be based on and
guided by the following considerations:
''(i) The estimated vulnerability of the
foreign country or entity to economic
sanctions.
''(ii) Whether certain types of economic
sanctions will be more effective against the
economy of the foreign country or entity.
''(iii) Whether economic sanctions can be
imposed against the foreign country or entity
with limited costs to the economy of the United
States.
''(iv) Whether economic sanctions will be
more effective if imposed unilaterally by the
United States or in conjunction with other
foreign countries and international entities.
''(v) The manner in which economic
sanctions will be lifted.
''(2) Strategy to improve united states economic sanctions
policy.--The Group shall--
''(A) review each economic sanctions program
administered by the Office of Foreign Assets Control to
identify--
''(i) specific problems with each economic
sanctions program; and
''(ii) general problems with United States
economic sanctions policy; and
''(B) create a strategy to improve each economic
sanctions program administered by the Office of Foreign
Assets Control and United States economic sanctions
policy.
''(3) Interagency coordination.--The Undersecretary for
Terrorism and Financial Crimes shall--
''(A) coordinate the development of United States
economic sanctions policy with the Department of State,
Department of Defense, Department of Justice,
Department of Commerce, National Security Council,
Office of the Director of National Intelligence, and
any other executive agency as the President may
designate; and
''(B) ensure that information related to United
States economic sanctions policy is shared equally
between the departments and entities described in
subparagraph (A).
''(d) Meetings.--The Group may not meet less than once per month.
''(e) Support Staff.--The Undersecretary for Terrorism and
Financial Crimes or the Secretary of the Treasury may assign on a non-
reimbursable basis any personnel of the Department of the Treasury to
the Group to assist the Group in carrying out the functions under
subsection (c).
''(f) Consultations.--In carrying out the functions under
subsection (c), the Group may consult with policy experts from
academia, research organizations, the private sector, and other
relevant organizations and institutions.
''(g) Annual Reports to Congress.--
''(1) In general.--Not later than July 1, 2017, and
annually thereafter, the Group shall submit to the Committees
on Foreign Affairs and Ways and Means of the House of
Representatives, the Committees on Foreign Relations and
Banking, Housing, and Urban Affairs of the Senate, the
Permanent Select Committee on Intelligence of the House of
Representatives, and the Select Committee on Intelligence of
the Senate a report which--
''(A) shall include--
''(i) an overview of the contingency
planning described in subsection (c)(1);
''(ii) an annex of the problems identified
pursuant to subsection (c)(2)(A);
''(iii) the strategy created under
subsection (c)(2)(B);
''(iv) an overview of the interagency
coordination described in subsection (c)(3);
''(v) an annex of the policy experts with
whom the Group consulted under subsection (f);
and
''(vi) a comprehensive sanctions impact
assessment; and
''(B) may include a classified index and closed
briefings for the Permanent Select Committee on
Intelligence of the House of Representatives and the
Select Committee on Intelligence of the Senate.
''(2) Components of comprehensive sanctions impact
assessment.--The comprehensive sanctions impact assessment
required under paragraph (1)(A)(vi)--
''(A) may be completed using a variety of social
scientific research methods, including quantitative
research methods, qualitative research methods,
econometrics, and formal modeling; and
''(B) shall include--
''(i) an assessment of each economic
sanctions program administered by the Office of
Foreign Assets Control, including the impact of
the sanctions on the economy of the foreign
country or entity, the impact of the sanctions
on the economy of the United States, and, if
applicable, the behavioral changes of the
foreign country or entity in response to the
sanctions; and
''(ii) an annex of the social scientific
research methods that were used to complete
each assessment under clause (i).
''(3) Public availability.--Each report submitted under
this subsection, excluding classified information, shall be
made publicly available on the website of the Department of the
Treasury and may be amended as an economic sanctions program is
lifted or modified.
''(h) Definitions.--In this section:
''(1) Executive agency.--The term 'executive agency' has
the meaning given the term in section 105 of title 5, United
States Code.
''(2) United states economic sanctions policy.--The term
'United States economic sanctions policy' means the measures by
which the Department of the Treasury develops, implements,
monitors, enforces, and lifts sanctions against a foreign
country or entity pursuant to the authority of the
International Emergency Economic Powers Act (50 U.S.C. 1701 et
seq.) or any other provision of law.''.
(b) Conforming Amendment.--Section 312(a)(6) of such title is
amended by adding at the end the following new subparagraph:
''(G) The Economic Sanctions Strategy,
Coordination, and Planning Group, which shall report
directly to the Secretary of the Treasury.''.
(c) Clerical Amendment.--The table of sections at the beginning of
chapter 3 of such title is amended by inserting after the item relating
to section 315 the following new item:

''316. Economic Sanctions Strategy, Coordination, and Planning
Group.''.
Output:
Improving Economic Sanctions Act of 2016 This bill establishes within the Office of Terrorism and Financial Intelligence of the Department of the Treasury an Economic Sanctions Strategy, Coordination, and Planning Group. The group shall conduct contingency planning to enable the Office of Foreign Assets Control (OFAC) to impose, monitor, and enforce a program of economic sanctions against a foreign country or entity pursuant to the International Emergency Economic Powers Act. The group shall: (1) review OFAC economic sanctions programs to identify specific problems with such programs and general problems with U.S. economic sanctions policy, and (2) create a strategy to improve such programs and policy. The Office of Terrorism and Financial Crimes shall coordinate the development of U.S. economic sanctions policy with the Departments of State, Defense, Justice, and Commerce; the National Security Council; and the Office of the Director of National Intelligence.