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![handle is hein.congrecreports/crptxahfp0001 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GPO
119TH CONGRESS REPT. 119-47
1st Session HOUSE OF REPRESENTATIVES Part 1
OFAC LICENSURE FOR INVESTIGATORS ACT
MARCH 27, 2025.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HILL of Arkansas, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 1450]
The Committee on Financial Services, to whom was referred the
bill (H.R. 1450) to require the Office of Foreign Assets Control to
develop a program under which private sector firms may receive a
license to conduct nominal financial transactions in furtherance of
the firms' investigations, and for other purposes, having considered
the same, reports favorably thereon without amendment and rec-
ommends that the bill do pass.
CONTENTS
Page
Purpose and Sum m ary ............................................................................................ 1
Background and Need for Legislation .................................................................... 2
Com m ittee Consideration ........................................................................................ 2
R elated H earings ..................................................................................................... 3
C om m ittee V otes ..................................................................................................... 3
Com m ittee Oversight Findings ............................................................................... 5
Perform ance Goals and Objectives ......................................................................... 5
Com m ittee Cost Estim ate ....................................................................................... 5
New Budget Authority and CBO Cost Estimate ................................................... 5
Unfunded M andates Statem ent ............................................................................. 5
E arm ark Statem ent ................................................................................................. 5
Federal Advisory Committee Act Statement ......................................................... 5
Applicability to the Legislative Branch ................................................................. 6
Duplication of Federal Program s ............................................................................ 6
Section-by-Section Analysis of the Legislation ...................................................... 6
Changes in Existing Law Made by the Bill, as Reported ................. 7
C om m ittee Letters ................................................................................................... 8
PURPOSE AND SUMMARY
Introduced on February 21, 2025 by Representative Joyce Beatty,
H.R. 1450, the OFAC Licensure for Investigators Act, requires the
Director of the Office of Foreign Assets Control (OFAC) to develop
59-006](ViewImageLocal?handle=hein.congrecreports/crptxahfp0001&div=1&collection=&method=preview&ext=.png&size=3)