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H.R. 1450: OFAC Licensure for Investigators Act

119th Congress · introduced 2025-02-21 · International Affairs · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

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Official title

OFAC Licensure for Investigators Act

Plain summary

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.)

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

OFAC Licensure for Investigators Act

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Beatty, Joyce [D-OH-3] · 1 cosponsors

Money: CBO cost estimate: H.R. 1450, OFAC Licensure for Investigators Act (2025-05-20) No linked contracts or vendors yet.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

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Sources

Record fed-us-cong119-hr1450 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills