OFAC Licensure for Investigators Act

Sponsored byRep. Beatty, Joyce [D-OH-3]OH· Introduced 21 February 2025

Open on Congress.gov

Cosponsors

Actions

Amendments

Committees

—

Since introduced

Introduced

Committee

Passed Chamber

Passed Both

Enacted

Step 1 of 0

Latest action

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

22 July 2025·1 year ago

Summary

Introduced in House · Updated 16 July 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.)

Timeline

18 actions

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
22 July 2025 · IntroReferral
DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.
21 July 2025 · Floor
Considered under suspension of the rules. (consideration: CR H3517-3518)
21 July 2025 · Floor
Mr. Hill (AR) moved to suspend the rules and pass the bill.
21 July 2025 · Floor
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
21 July 2025 · Floor
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
21 July 2025 · Floor
Motion to reconsider laid on the table Agreed to without objection.
21 July 2025 · Floor
Reported by the Committee on Financial Services. H. Rept. 119-47, Part I.
27 March 2025 · Committee
Committee on Foreign Affairs discharged.
27 March 2025 · Discharge
Committee on Foreign Affairs discharged.
27 March 2025 · Committee
Placed on the Union Calendar, Calendar No. 34.
27 March 2025 · Calendars
Reported by the Committee on Financial Services. H. Rept. 119-47, Part I.
27 March 2025 · Committee
Ordered to be Reported by the Yeas and Nays: 49 - 0.
5 March 2025 · Committee
Committee Consideration and Mark-up Session Held
5 March 2025 · Committee
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.
21 February 2025 · IntroReferral
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.
21 February 2025 · IntroReferral
Introduced in House
21 February 2025 · IntroReferral
Introduced in House
21 February 2025 · IntroReferral

Sponsorship

1 cosponsors

Sponsor

Rep. Beatty, Joyce [D-OH-3]OH

Cosponsors

Republican1100%

Republican:Rep. Nunn, Zachary [R-IA-3]IA

Classification

Policy area

International Affairs

Legislative subjects

Congressional oversightFinancial services and investmentsFraud offenses and financial crimesLicensing and registrations

Committees

Financial Services Committee
House · Standing
- Referred To21 Feb 2025
- Markup By5 Mar 2025
- Reported By27 Mar 2025
Foreign Affairs Committee
House · Standing
- Referred To21 Feb 2025
- Discharged From27 Mar 2025
Banking, Housing, and Urban Affairs Committee
Senate · Standing
- Referred To22 Jul 2025

Reports

H. Rept. 119-47

Track OFAC Licensure for Investigators Act as it moves through Congress