IB
Union Calendar No. 704
118th CONGRESS
2d Session
H. R. 6322
[Report No. 118–799, Part I]
IN THE HOUSE OF REPRESENTATIVES
November 9, 2023
Mr. Steil (for himself and Ms. Pettersen) 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 concerned
December 5, 2024
Reported from the Committee on Financial Services with an amendment
Strike out all after the enacting clause and insert the part printed in italic
December 5, 2024
Referral to the Committee on Foreign Affairs extended for a period ending not later than December 19, 2024
December 12, 2024
Additional sponsors: Mr. Meuser, Mr. Wilson of South Carolina, Mr. Barr, Mr. Sessions, Mr. Sherman, Mr. Suozzi, Mr. Moskowitz and Mr. Fitzpatrick
December 12, 2024
Committee on Foreign Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed
For text of introduced bill, see copy of bill as introduced on November 9, 2023
A BILL
To evaluate and disrupt financing to Hamas, and to amend title 31, United States Code, to prohibit the exchange stabilization fund from being used to deal in Special Drawing Rights from state sponsors of terrorism, and for other purposes.
Short title
This Act may be cited as the End Financing for Hamas and State Sponsors of Terrorism Act
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Report on financing for Hamas
Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate a report (which shall be in unclassified form but may include a classified annex) that includes—
an analysis of the major sources of financing to Hamas;
a description of United States and multilateral efforts to disrupt illicit financial flows involving Hamas;
an evaluation of United States efforts to undermine the ability of Hamas to finance armed hostilities against Israel; and
an implementation plan with respect to the multilateral strategy described in section 3.
Multilateral Strategy to Disrupt Hamas Financing
The Secretary of the Treasury, through participation in the G7, and other appropriate fora, shall develop a strategy in coordination with United States allies and partners to ensure that Hamas is incapable of financing armed hostilities against Israel.
Prohibition on use of the exchange stabilization fund to exchange Special Drawing Rights of, or to benefit, state sponsors of terrorism
Section 5302 of title 31, United States Code, is amended by adding at the end the following:
Prohibition on use of fund to exchange Special Drawing Rights of, or to benefit, a state sponsor of terrorism
The Secretary may not use the fund to—
deal in Special Drawing Rights from any country determined by the Secretary of State to have repeatedly provided support for acts of international terrorism, as designated pursuant to section 1754(c) of the National Defense Authorization Act for Fiscal Year 2019, section 40 of the Arms Export Control Act, or section 620A of the Foreign Assistance Act of 1961; or
deal in Special Drawing Rights with any other country in a manner that the Secretary finds will result in the direct provision of funds to a country referred to in paragraph (1).
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December 12, 2024
Committee on Foreign Affairs discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed