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![handle is hein.congrecreports/crptxaejl0001 and id is 1 raw text is: AUTHENTICATED
U.S. GOVERNMENT
INFORMATION .
117TH CONGRESS REPT.117-319
2d Session HOUSE OF REPRESENTATIVES Part 1
RUSSIA AND BELARUS FINANCIAL SANCTIONS ACT
MAY 10, 2022.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Ms. WATERS, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 7066]
The Committee on Financial Services, to whom was referred the
bill (H.R. 7066) to require United States financial institutions to
ensure entities and persons owned or controlled by the institution
comply with financial sanctions on the Russian Federation and the
Republic of Belarus to the same extent as the institution itself, and
for other purposes, having considered the same, reports favorably
thereon with an amendment and recommends that the bill as
amended do pass.
CONTENTS
Page
Purpose and Sum m ary ............................................................................................ 2
Background and Need for Legislation ................................................................... 2
Section-by-Section Analysis of the Legislation ..................................................... 3
H e a rin g s ................................................................................................................... 3
Com m ittee Consideration ........................................................................................ 3
C om m ittee V otes ...................................................................................................... 3
Com m ittee Oversight Findings ............................................................................... 5
Statement of Performance Goals and Objectives .................................................. 5
New Budget Authority and C.B.O. Cost Estimate ............................................... 5
Com m ittee Cost E stim ate ....................................................................................... 5
Federal M andates Statem ent ................................................................................. 5
A dvisory Com m ittee Statem ent ............................................................................. 5
Applicability to Legislative Branch ....................................................................... 5
Congressional Earmarks, Limited Tax Benefits, and Limited Tariff Benefits ... 5
D uplicative Federal Program s ............................................................................... 6
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Russia and Belarus Financial Sanctions Act of
2022.
29-006](ViewImageLocal?handle=hein.congrecreports/crptxaejl0001&div=1&collection=&method=preview&ext=.png&size=3)