[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6872 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 6872

 To support the capacity of the International Monetary Fund to prevent 
              money laundering and financing of terrorism.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 25, 2018

     Ms. Moore (for herself, Mr. Pearce, Mr. Barr, and Mr. Foster) 
 introduced the following bill; which was referred to the Committee on 
                           Financial Services

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                                 A BILL


 
 To support the capacity of the International Monetary Fund to prevent 
              money laundering and financing of terrorism.

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

SECTION 1. SUPPORT FOR IMF CAPACITY TO PREVENT MONEY LAUNDERING AND 
              FINANCING OF TERRORISM.

    (a) International Monetary Fund.--Title XVI of the International 
Financial Institutions Act (22 U.S.C. 262p et seq.) is amended by 
adding at the end the following:

``SEC. 1629. SUPPORT FOR CAPACITY OF THE INTERNATIONAL MONETARY FUND TO 
              PREVENT MONEY LAUNDERING AND FINANCING OF TERRORISM.

    ``(a) In General.--The Secretary of the Treasury shall instruct the 
United States Executive Director at the International Monetary Fund to 
use the voice and vote of the United States to support the use of the 
administrative budget of the Fund for technical assistance that 
strengthens the capacity of Fund members to prevent money laundering 
and the financing of terrorism.
    ``(b) Sunset.--This section shall cease to have force or effect 5 
years after the date of the enactment of this section.''.
    (b) National Advisory Council Report to Congress.--
            (1) In general.--The Chairman of the National Advisory 
        Council on International Monetary and Financial Policies shall 
        include in the report required by section 1701 of the 
        International Financial Institutions Act a description of--
                    (A) the activities of the International Monetary 
                Fund in the most recently completed fiscal year to 
                provide technical assistance that strengthens the 
                capacity of Fund members to prevent money laundering 
                and the financing of terrorism, and the effectiveness 
                of the assistance; and
                    (B) the efficacy of efforts by the United States to 
                support the technical assistance through the use of the 
                administrative budget of the International Monetary 
                Fund.
            (2) Sunset.--This subsection shall cease to have force or 
        effect 5 years after the date of the enactment of this Act.
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