Short title

This Act may be cited as the

Bringing Real Accountability Via Enforcement in Burma Act

or the

BRAVE Burma Act

Modifications to reporting requirement

Section 5571(e) of the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 (22 U.S.C. 10222(e)) is amended to read as follows:

(e)

Assessment and report on sanctions with respect to Burmese persons

(1)

In general

Not later than 180 days after the date of the enactment of this Act, and annually thereafter for 7 years, the President shall determine whether the following persons meet the criteria for sanctions described under subsection (a) or under Executive Order 14014 (86 Fed. Reg. 9429; relating to blocking property with respect to the situation in Burma): (A)Any Burmese state-owned enterprise described in subsection (c)(1). (B)Myanma Economic Bank. (C)Any foreign person that the President determines operates in the jet fuel sector of the Burmese economy, including through activities such as the provision of financial services or the importation, exportation, reexportation, sale, supply, trade, storage, or transport, directly or indirectly, of jet fuel in Burma. (2)

Report required

Upon making the determination required by paragraph (1), the President shall submit to the appropriate congressional committees a report on the assessment. (3)

Form of report

The report required by paragraph (2) shall be submitted in unclassified form but may include a classified annex.

Limitation of shareholding benefitting the state administration council of burma

(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, when assessing potential changes to any shareholding formula in connection with a governance review of the Fund, to limit, as appropriate, an increase to the shareholding of Burma if the country is subject to the rule of the State Administration Council. (b)

Waiver

The President of the United States may waive the application of subsection (a) upon certifying to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that the waiver is important to the national interest of the United States, with a detailed explanation of the reasons therefor.