H.R. 1450 Passed the House International Affairs

OFAC Licensure for Investigators 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. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Beatty, Joyce [D-OH-3] Introduced February 21, 2025 Cosponsors 1 (1 R) Latest action July 22, 2025

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.)

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Jul 22, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jul 21, 2025 Motion to reconsider laid on the table Agreed to without objection.
  3. Jul 21, 2025 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3517)
  4. Jul 21, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.
  5. Jul 21, 2025 Considered under suspension of the rules. (consideration: CR H3517-3518)
  6. Jul 21, 2025 Mr. Hill (AR) moved to suspend the rules and pass the bill.
  7. Mar 27, 2025 Placed on the Union Calendar, Calendar No. 34.
  8. Mar 27, 2025 Committee on Foreign Affairs discharged.
  9. Mar 27, 2025 Reported by the Committee on Financial Services. H. Rept. 119-47, Part I.
  10. Mar 5, 2025 Ordered to be Reported by the Yeas and Nays: 49 - 0.
  11. Mar 5, 2025 Committee Consideration and Mark-up Session Held
  12. Feb 21, 2025 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.

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