Both sides have signed this (Bill Ranking)
H.R. 1450 · 119th Congress (2025-2026)
2 members · Left 1 · Center 0 · Right 1 (Bill Ranking)
| Sponsor | Rep. Beatty, Joyce (D-OH) (Introduced 02/21/2025) |
|---|---|
| Sponsor Voting Record | Lean left · DW-NOMINATE -0.44 · measured from every roll-call vote this member has cast (voteview.com) (Sponsor Ranking) |
| Support |
LLLCLRR support across the spectrum: 2 members signed on (Bill Ranking) this bill: sponsor + current cosponsors, each once |
| Committees | Senate - Banking, Housing, and Urban Affairs Committee; House - Foreign Affairs Committee; House - Foreign Affairs Committee; House - Financial Services Committee; House - Financial Services Committee; House - Financial Services Committee |
| Latest Action | 07/22/2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Roll Call Votes | There have been no roll call votes |
| Source | view on congress.gov → |
Introduced in House (02/21/2025)
OFAC Licensure for Investigators Act
This bill requires the Office of Foreign Assets Control (OFAC) to establish a pilot program to license eligible private sector firms to conduct nominal financial transactions as part of the firm's sanctions-related investigations.
A firm that receives a license must submit monthly reports to OFAC on activities conducted under the license.
(OFAC, within the Department of the Treasury, is one of the primary agencies responsible for enforcing economic sanctions. OFAC requires firms to take various actions, such as ensuring that they are not engaging in transactions with entities subject to U.S. sanctions. A firm may also provide voluntary self-disclosures to OFAC with information from a firm's investigation of suspicious activities.)
119 HR 1450 EH: OFAC Licensure for Investigators Act U.S. House of Representatives text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IB 119th CONGRESS1st Session H. R. 1450
IN THE HOUSE OF REPRESENTATIVES AN ACT To require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms’ investigations, and for other purposes.
1.Short titleThis Act may be cited as the OFAC Licensure for Investigators Act.
2.Sending and receiving of nominal amounts (a)In generalThe Director of the Office of Foreign Assets Control shall, not later than 1 year after the date of the enactment of this section, establish a pilot program under which a private sector firm may receive a license to conduct nominal financial transactions in furtherance of the firm’s investigations. (b)CoordinationWhen establishing and carrying out the pilot program required under subsection (a), the Director of the Office of Foreign Assets Control shall coordinate with the Director of the Financial Crimes Enforcement Network for the purposes of supporting activities of the Financial Crimes Enforcement Network Exchange, as described in section 310(d) of title 31 of the United States Code. (c)Reporting on activitiesEach private sector firm that receives a license described under subsection (a) shall submit a detailed monthly report to the Director of the Office of Foreign Assets Control on the activities of the firm conducted under such license. (d)Report to Congress (1)In generalOn the date that is 1 year after the date on which the pilot program is established under this section, and annually thereafter until the end of the 1-year period beginning on the date the pilot program is terminated, the Director of the Office of Foreign Assets Control shall submit 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— (A)the number of licenses requested under the pilot program; (B)the number of licenses granted under the pilot program; and (C)a broad discussion of the utility of the pilot program. (2)Classified briefingAfter submission of each report required under paragraph (1), the Director of the Office of Foreign Assets Control shall provide 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 with a classified briefing containing— (A)additional detail on the applicants for a license under the pilot program; (B)identification of the firms granted a license; (C)information on the operation of the pilot program, including how long each license lasted and the personnel needed to manage the pilot program; (D)information gleaned by the Office of Foreign Assets Control from running the pilot program; (E)the utility of that information; (F)any obstacles to the operation or utility of the pilot program; and (G)any recommendations for improving or extending the pilot program. (e)TerminationThe pilot program established by the Director of the Office of Foreign Assets Control under subsection (a) shall terminate on the date that is 5 years after the date on which the Director of the Office of Foreign Assets Control establishes such program. Passed the House of Representatives July 21, 2025.Kevin F. McCumber,Clerk.
119 HR 1450 IH: OFAC Licensure for Investigators Act U.S. House of Representatives 2025-02-21 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I119th CONGRESS1st SessionH. R. 1450IN THE HOUSE OF REPRESENTATIVESFebruary 21, 2025Mrs. Beatty (for herself and Mr. Nunn of Iowa) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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 concernedA BILLTo require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms’ investigations, and for other purposes.1.Short titleThis Act may be cited as the OFAC Licensure for Investigators Act.2.Sending and receiving of nominal amounts(a)In generalThe Director of the Office of Foreign Assets Control shall, not later than 1 year after the date of the enactment of this section, establish a pilot program under which a private sector firm may receive a license to conduct nominal financial transactions in furtherance of the firm’s investigations.(b)CoordinationWhen establishing and carrying out the pilot program required under subsection (a), the Director of the Office of Foreign Assets Control shall coordinate with the Director of the Financial Crimes Enforcement Network for the purposes of supporting activities of the Financial Crimes Enforcement Network Exchange, as described in section 310(d) of title 31 of the United States Code.(c)Reporting on activitiesEach private sector firm that receives a license described under subsection (a) shall submit a detailed monthly report to the Director of the Office of Foreign Assets Control on the activities of the firm conducted under such license.(d)Report to Congress(1)In generalOn the date that is 1 year after the date on which the pilot program is established under this section, and annually thereafter until the end of the 1-year period beginning on the date the pilot program is terminated, the Director of the Office of Foreign Assets Control shall submit 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—(A)the number of licenses requested under the pilot program;(B)the number of licenses granted under the pilot program; and(C)a broad discussion of the utility of the pilot program.(2)Classified briefingAfter submission of each report required under paragraph (1), the Director of the Office of Foreign Assets Control shall provide 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 with a classified briefing containing—(A)additional detail on the applicants for a license under the pilot program;(B)identification of the firms granted a license;(C)information on the operation of the pilot program, including how long each license lasted and the personnel needed to manage the pilot program;(D)information gleaned by the Office of Foreign Assets Control from running the pilot program;(E)the utility of that information;(F)any obstacles to the operation or utility of the pilot program; and(G)any recommendations for improving or extending the pilot program.(e)TerminationThe pilot program established by the Director of the Office of Foreign Assets Control under subsection (a) shall terminate on the date that is 5 years after the date on which the Director of the Office of Foreign Assets Control establishes such program.
119 HR 1450 : OFAC Licensure for Investigators Act U.S. House of Representatives 2025-07-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IIB119th CONGRESS1st SessionH. R. 1450IN THE SENATE OF THE UNITED STATESJuly 22, 2025Received; read twice and referred to the Committee on Banking, Housing, and Urban AffairsAN ACTTo require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms’ investigations, and for other purposes.1.Short titleThis Act may be cited as the OFAC Licensure for Investigators Act.2.Sending and receiving of nominal amounts(a)In generalThe Director of the Office of Foreign Assets Control shall, not later than 1 year after the date of the enactment of this section, establish a pilot program under which a private sector firm may receive a license to conduct nominal financial transactions in furtherance of the firm’s investigations.(b)CoordinationWhen establishing and carrying out the pilot program required under subsection (a), the Director of the Office of Foreign Assets Control shall coordinate with the Director of the Financial Crimes Enforcement Network for the purposes of supporting activities of the Financial Crimes Enforcement Network Exchange, as described in section 310(d) of title 31 of the United States Code.(c)Reporting on activitiesEach private sector firm that receives a license described under subsection (a) shall submit a detailed monthly report to the Director of the Office of Foreign Assets Control on the activities of the firm conducted under such license.(d)Report to Congress(1)In generalOn the date that is 1 year after the date on which the pilot program is established under this section, and annually thereafter until the end of the 1-year period beginning on the date the pilot program is terminated, the Director of the Office of Foreign Assets Control shall submit 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—(A)the number of licenses requested under the pilot program;(B)the number of licenses granted under the pilot program; and(C)a broad discussion of the utility of the pilot program.(2)Classified briefingAfter submission of each report required under paragraph (1), the Director of the Office of Foreign Assets Control shall provide 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 with a classified briefing containing—(A)additional detail on the applicants for a license under the pilot program;(B)identification of the firms granted a license;(C)information on the operation of the pilot program, including how long each license lasted and the personnel needed to manage the pilot program;(D)information gleaned by the Office of Foreign Assets Control from running the pilot program;(E)the utility of that information;(F)any obstacles to the operation or utility of the pilot program; and(G)any recommendations for improving or extending the pilot program.(e)TerminationThe pilot program established by the Director of the Office of Foreign Assets Control under subsection (a) shall terminate on the date that is 5 years after the date on which the Director of the Office of Foreign Assets Control establishes such program.Passed the House of Representatives July 21, 2025.Kevin F. McCumber,Clerk.
119 HR 1450 RH: OFAC Licensure for Investigators Act U.S. House of Representatives 2025-03-27 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IBUnion Calendar No. 34119th CONGRESS1st SessionH. R. 1450[Report No. 119–47, Part I]IN THE HOUSE OF REPRESENTATIVESFebruary 21, 2025Mrs. Beatty (for herself and Mr. Nunn of Iowa) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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 concernedMarch 27, 2025Reported from the Committee on Financial ServicesMarch 27, 2025Committee on Foreign Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printedA BILLTo require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms’ investigations, and for other purposes.1.Short titleThis Act may be cited as the OFAC Licensure for Investigators Act.2.Sending and receiving of nominal amounts(a)In generalThe Director of the Office of Foreign Assets Control shall, not later than 1 year after the date of the enactment of this section, establish a pilot program under which a private sector firm may receive a license to conduct nominal financial transactions in furtherance of the firm’s investigations.(b)CoordinationWhen establishing and carrying out the pilot program required under subsection (a), the Director of the Office of Foreign Assets Control shall coordinate with the Director of the Financial Crimes Enforcement Network for the purposes of supporting activities of the Financial Crimes Enforcement Network Exchange, as described in section 310(d) of title 31 of the United States Code.(c)Reporting on activitiesEach private sector firm that receives a license described under subsection (a) shall submit a detailed monthly report to the Director of the Office of Foreign Assets Control on the activities of the firm conducted under such license.(d)Report to Congress(1)In generalOn the date that is 1 year after the date on which the pilot program is established under this section, and annually thereafter until the end of the 1-year period beginning on the date the pilot program is terminated, the Director of the Office of Foreign Assets Control shall submit 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—(A)the number of licenses requested under the pilot program;(B)the number of licenses granted under the pilot program; and(C)a broad discussion of the utility of the pilot program.(2)Classified briefingAfter submission of each report required under paragraph (1), the Director of the Office of Foreign Assets Control shall provide 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 with a classified briefing containing—(A)additional detail on the applicants for a license under the pilot program;(B)identification of the firms granted a license;(C)information on the operation of the pilot program, including how long each license lasted and the personnel needed to manage the pilot program;(D)information gleaned by the Office of Foreign Assets Control from running the pilot program;(E)the utility of that information;(F)any obstacles to the operation or utility of the pilot program; and(G)any recommendations for improving or extending the pilot program.(e)TerminationThe pilot program established by the Director of the Office of Foreign Assets Control under subsection (a) shall terminate on the date that is 5 years after the date on which the Director of the Office of Foreign Assets Control establishes such program.March 27, 2025Reported from the Committee on Financial ServicesMarch 27, 2025Committee on Foreign Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed
The bill's own words, from our database (synced from the GPO BILLS XML); paragraph breaks added at the bill's section boundaries, nothing else changed.
| Date | Chamber | All Actions |
|---|---|---|
| 02/21/2025 | Library of Congress | Introduced in House |
| 02/21/2025 | Library of Congress | Introduced in House |
| 02/21/2025 | House floor actions | Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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. |
| 02/21/2025 | House floor actions | Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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. |
| 03/05/2025 | House committee actions | Committee Consideration and Mark-up Session Held |
| 03/05/2025 | House committee actions | Ordered to be Reported by the Yeas and Nays: 49 - 0. |
| 03/27/2025 | Library of Congress | Reported by the Committee on Financial Services. H. Rept. 119-47, Part I. |
| 03/27/2025 | House floor actions | Reported by the Committee on Financial Services. H. Rept. 119-47, Part I. |
| 03/27/2025 | Library of Congress | Committee on Foreign Affairs discharged. |
| 03/27/2025 | House floor actions | Committee on Foreign Affairs discharged. |
| 03/27/2025 | House floor actions | Placed on the Union Calendar, Calendar No. 34. |
| 07/21/2025 | House floor actions | Mr. Hill (AR) moved to suspend the rules and pass the bill. |
| 07/21/2025 | House floor actions | Considered under suspension of the rules. (consideration: CR H3517-3518) |
| 07/21/2025 | House floor actions | DEBATE - The House proceeded with forty minutes of debate on H.R. 1450. |
| 07/21/2025 | Library of Congress | Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517) |
| 07/21/2025 | House floor actions | On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517) |
| 07/21/2025 | House floor actions | Motion to reconsider laid on the table Agreed to without objection. |
| 07/22/2025 | Senate | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Title Type | Title |
|---|---|
| Official Titles from EH (Engrossed in House) bill text | To require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms’ investigations, and for other purposes. |
| Short Titles from RFS (Referred to Senate) bill text | OFAC Licensure for Investigators Act |
| Display Title | OFAC Licensure for Investigators Act |
| Short Title(s) as Passed House | OFAC Licensure for Investigators Act |
| Short Title(s) as Reported to House | OFAC Licensure for Investigators Act |
| Short Title(s) as Introduced | OFAC Licensure for Investigators Act |
| Official Title as Introduced | To require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms' investigations, and for other purposes. |
There are no amendments to this bill.
* = Original cosponsor
| Committee | Activity |
|---|---|
| Senate - Banking, Housing, and Urban Affairs Committee | 07/22/2025 Referred To |
| House - Foreign Affairs Committee | 03/27/2025 Discharged From |
| House - Foreign Affairs Committee | 02/21/2025 Referred To |
| House - Financial Services Committee | 03/27/2025 Reported By |
| House - Financial Services Committee | 03/05/2025 Markup By |
| House - Financial Services Committee | 02/21/2025 Referred To |
No related bill information was received for H.R. 1450.
Policy Area: International Affairs
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