HR1450Passed House

OFAC Licensure for Investigators Act

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Introduced
In Committee
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-02-21
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Joyce Beatty
Joyce Beatty
Democrat · OH · Representative
Votes with party: 98.2% (571 recorded votes)

Full profile: /officials/B001281

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

1 cosponsor on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2025-07-22

Source: Congress.gov

Committee Activity

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Plain-English 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.)

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

International Affairs
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Related legislation

Bills by the same sponsor or covering overlapping subjects.