[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3007 Introduced in House (IH)]







104th CONGRESS
  2d Session
                                H. R. 3007

 To establish an interagency task force to design and implement a plan 
 for determining the extent to which United States currency is held in 
 foreign countries and estimating the extent to which such currency is 
 being counterfeited outside the United States, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 5, 1996

  Mr. Bachus (for himself, Mr. Leach, and Mr. Spratt) introduced the 
  following bill; which was referred to the Committee on Banking and 
Financial Services, and in addition to the Committee on the Judiciary, 
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

_______________________________________________________________________

                                 A BILL


 
 To establish an interagency task force to design and implement a plan 
 for determining the extent to which United States currency is held in 
 foreign countries and estimating the extent to which such currency is 
 being counterfeited outside the United States, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``International Counterfeiting 
Prevention Act of 1996''.

SEC. 2. INTERAGENCY TASK FORCE ON INTERNATIONAL COUNTERFEITING OF 
              UNITED STATES CURRENCY.

    (a) Establishment.--
            (1) In general.--The Secretary of the Treasury, the 
        Chairman of the Board of Governors of the Federal Reserve 
        System, and the Secretary of State shall establish, and appoint 
        the members of, an interagency task force (hereafter in this 
        Act referred to as the ``task force'') to--
                    (A) monitor the use and holding of United States 
                currency in foreign countries;
                    (B) produce a statistically valid estimate of the 
                amount of counterfeit United States currency that is 
                produced, passed, and possessed outside the United 
                States each year; and
                    (C) coordinate the activities of the agencies 
                represented on the task force in carrying out the 
                duties described in subparagraphs (A) and (B).
            (2) Composition of task force.--The task force shall 
        consist of the following:
                    (A) The Under Secretary of the Treasury for 
                Enforcement, or a designee of the Under Secretary.
                    (B) The Director of the United States Secret 
                Service, or a designee of the Director.
                    (C) The Director of the Bureau of Engraving and 
                Printing, or a designee of the Director.
                    (D) Such other officers of the Department of the 
                Treasury, including any officer in any bureau, office, 
                or service within the department, as the Secretary of 
                the Treasury may determine to be appropriate, or any 
                designee of any such officer.
                    (E) A member of the Board of Governors of the 
                Federal Reserve System as designated by the Chairman of 
                such Board, or a designee of such member.
                    (F) The general counsel of the Board of Governors 
                of the Federal Reserve System, or a designee of the 
                general counsel.
                    (G) Such other officers of the Board of Governors 
                of the Federal Reserve System as the Chairman of such 
                Board may determine to be appropriate, or a designee of 
                any such officer.
                    (H) Such officers of the Department of State as the 
                Secretary of State may determine to be appropriate, or 
                a designee of any such officer.
            (3) Representation of other agencies and departments.--
                    (A) In general.--The Secretary of the Treasury, the 
                Chairman of the Board of Governors of the Federal 
                Reserve System, and the Secretary of State may include 
                representatives of any other agency or department of 
                the United States on the task force, with the 
                concurrence of the head of such agency or department.
                    (B) Appointment of members of task force.--The 
                representative of any agency or department referred to 
                in subparagraph (A) shall consist of--
                            (i) the head of such agency or department, 
                        or a designee of such head; and
                            (ii) such other officers of such agency or 
                        department as the head of such agency or 
                        department may determine to be appropriate, or 
                        a designee of any such officer.
            (4) Chairperson.--The Secretary of the Treasury shall serve 
        as the chairperson of the task force.
    (b) Evaluation Audit Plan.--
            (1) In general.--The task force shall establish an 
        effective international evaluation audit plan that is designed 
        to enable the agencies represented on the task force to carry 
        out the duties described in subparagraphs (A) and (B) of 
        subsection (a)(1) on a regular and thorough basis.
            (2) Submission of detailed written summary.--The task force 
        shall submit a detailed written summary of the evaluation audit 
        plan developed pursuant to paragraph (1) to the Congress before 
        the end of the 6-month period beginning on the date of the 
        enactment of this Act.
            (3) 1st evaluation audit under plan.--The task force shall 
        begin the first evaluation audit pursuant to the evaluation 
        audit plan no later than the end of the 1-year period beginning 
        on the date of the enactment of this Act.
            (4) Subsequent evaluation audits.--At least 1 evaluation 
        audit shall be performed pursuant to the evaluation audit plan 
        during each 2-year period beginning after the date of the 
        commencement of the evaluation audit referred to in paragraph 
        (3).
    (c) Reports.--
            (1) In general.--The task force shall submit a written 
        report to the Committee on Banking and Financial Services of 
        the House of Representatives and the Committee on Banking, 
        Housing, and Urban Affairs of the Senate on the results of each 
        evaluation audit conducted pursuant to subsection (b) within 90 
        days after the completion of the evaluation audit.
            (2) Contents.--In addition to such other information as the 
        task force may determine to be appropriate, each report 
        submitted to the Congress pursuant to paragraph (1) shall 
        include the following information:
                    (A) A detailed description of the evaluation audit 
                process and the methods used to detect counterfeit 
                currency.
                    (B) The method used to determine the currency 
                sample examined in connection with the evaluation audit 
                and an analysis of the statistical significance of the 
                sample examined.
                    (C) A list of the countries, types of financial 
                institutions, and other entities included.
                    (D) The total amount of United States currency and 
                the total quantity of each denomination found at each 
                type of evaluation audit site.
                    (E) The total amount of counterfeit United States 
                currency and the total quantity of each counterfeit 
                denomination found at each type of evaluation audit 
                site.
                    (F) An analysis of the types of counterfeit 
                currency discovered and any recurring patterns of 
                counterfeiting, including currency that fits the family 
                of counterfeit currency designated by the United States 
                Secret Service as C--14342.
            (3) Classification of information.--
                    (A) In general.--To the greatest extent possible, 
                each report submitted to the Congress under this 
                subsection shall be submitted in an unclassified form.
                    (B) Classified and unclassified forms.--If, in the 
                interest of submitting a complete report under this 
                subsection, the task force determines that it is 
                necessary to include classified information in the 
                report, the report shall be submitted in a classified 
                and an unclassified form.

SEC. 3. LAW ENFORCEMENT AND SENTENCING PROVISIONS RELATING TO 
              INTERNATIONAL COUNTERFEITING OF UNITED STATES CURRENCY.

    (a) Findings.--The Congress hereby finds the following:
            (1) United States currency is being counterfeited outside 
        the United States.
            (2) The 103d Congress enacted, with the approval of the 
        President on September 13, 1994, section 470 of title 18, 
        United States Code, making such activity a crime under the laws 
        of the United States.
            (3) The expeditious posting of agents of the United States 
        Secret Service to overseas posts, which is necessary for the 
        effective enforcement of section 470 and related criminal 
        provisions, has been delayed.
            (4) While section 470 of title 18, United States Code, 
        provides for a maximum term of imprisonment of 20 years as 
        opposed to a maximum term of 15 years for domestic 
        counterfeiting, the United States Sentencing Commission has 
        failed to provide, in its sentencing guidelines, for an 
        appropriate enhancement of punishment for defendants convicted 
        of counterfeiting United States currency outside the United 
        States.
    (b) Timely Consideration of Requests for Concurrence in Creation of 
Overseas Posts.--
            (1) In general.--The Secretary of State shall--
                    (A) consider in a timely manner the request by the 
                Secretary of the Treasury for the placement of such 
                number of agents of the United States Secret Service as 
                the Secretary of the Treasury considers appropriate in 
                posts in overseas embassies; and
                    (B) reach an agreement with the Secretary of the 
                Treasury on such posts as soon as possible and, in any 
                event, not later than December 31, 1996.
            (2) Cooperation of treasury required.--The Secretary of the 
        Treasury shall promptly provide any information requested by 
        the Secretary of State in connection with such requests.
            (3) Reports required.--The Secretary of the Treasury and 
        the Secretary of State shall each submit, by February 1, 1997, 
        a written report to the Committee on Banking and Financial 
        Services of the House of Representatives and the Committee on 
        Banking, Housing, and Urban Affairs of the Senate explaining 
        the reasons for the rejection, if any, of any proposed post and 
        the reasons for the failure, if any, to fill any approved post 
        by such date.
    (c) Enhanced Penalties for International Counterfeiting of United 
States Currency.--Pursuant to the authority of the United States 
Sentencing Commission under section 994 of title 28, United States 
Code, the Commission shall amend the sentencing guidelines prescribed 
by the Commission to provide an appropriate enhancement of the 
punishment for a defendant convicted under section 470 of title 18 of 
such Code.
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