[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7195 Introduced in House (IH)]
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117th CONGRESS
2d Session
H. R. 7195
To provide for certain whistleblower incentives and protections.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 24, 2022
Ms. Adams (for herself and Mr. Gonzalez of Ohio) introduced the
following bill; which was referred to the Committee on Financial
Services
_______________________________________________________________________
A BILL
To provide for certain whistleblower incentives and protections.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. WHISTLEBLOWER INCENTIVES AND PROTECTIONS.
Section 5323 of title 31, United States Code, as amended by section
6314 of the Anti-Money Laundering Act of 2020 (division F of Public Law
116-283) is amended by striking subsection (b) and inserting the
following:
``(b) Awards.--
``(1) In general.--In any covered judicial or
administrative action, or related action, the Secretary, under
regulations prescribed by the Secretary, in consultation with
the Attorney General and subject to subsection (c), shall pay
an award or awards to 1 or more whistleblowers who voluntarily
provided original information to the employer of the
individual, the Secretary, or the Attorney General, as
applicable, that led to the successful enforcement of the
covered judicial or administrative action, or related action,
in an aggregate amount equal to--
``(A) not less than 10 percent, in total, of what
has been collected of the monetary sanctions imposed in
the action or related actions; and
``(B) not more than 30 percent, in total, of what
has been collected of the monetary sanctions imposed in
the action or related actions.
``(2) Payment of awards.--Any amount paid under paragraph
(1) shall be paid from the Fund established under paragraph
(3).
``(3) Source of awards.--
``(A) In general.--There shall be established in
the Treasury of the United States a revolving fund to
be known as the Financial Integrity Fund (referred to
in this subsection as the `Fund').
``(B) Use of fund.--The Fund shall be available to
the Secretary, without further appropriation or fiscal
year limitations, only for the payment of awards to
whistleblowers as provided in subsection (b).
``(C) Restrictions on use of fund.--The Fund shall
not be available to pay any personnel or administrative
expenses.
``(4) Deposits and credits.--
``(A) In general.--There shall be deposited into or
credited to the Fund an amount equal to--
``(i) any monetary sanction collected by
the Secretary or Attorney General in any
judicial or administrative action under this
title unless the balance of the Fund at the
time the monetary judgement is collected
exceeds $300,000,000; and
``(ii) all income from investments made
under paragraph (5).
``(B) Additional amounts.--If the amounts deposited
into or credited to the Fund under subparagraph (A) are
not sufficient to satisfy an award made under this
subsection, there shall be deposited into or credited
to the Fund an amount equal to the unsatisfied portion
of the award from any monetary sanction collected by
the Secretary of the Treasury or Attorney General in
the covered judicial or administrative action on which
the award is based.
``(5) Investments.--
``(A) Amounts in fund may be invested.--The
Secretary of the Treasury may invest the portion of the
Fund that is not required to meet the current needs of
the Fund.
``(B) Eligible investments.--Investments shall be
made by the Secretary of the Treasury in obligations of
the United States or obligations that are guaranteed as
to principal and interest by the United States, with
maturities suitable to the needs of the Fund as
determined by the Secretary.
``(C) Interest and proceeds credited.--The interest
on, and the proceeds from the sale or redemption of,
any obligations held in the Fund shall be credited to,
and form a part of, the Fund.''.
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