To require the Secretary of the Treasury to confiscate interest paid on certain frozen bank accounts, to require the Secretary to confiscate certain frozen assets, and for other purposes.
USA115th CongressHR-6783| House
| Updated: 9/21/2018
Daniel M. Donovan
Republican Representative
New York
Cosponsors (2)
Homeland Security Committee, Foreign Affairs Committee, Emergency Management and Technology Subcommittee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Terrorist Asset Seizure Reform Act of 2018 This bill requires a financial institution to transfer to the Department of the Treasury (1) interest paid on certain bank accounts that are frozen as a result of sanctions; and (2) after providing notice and an opportunity for the owner to challenge, frozen or otherwise blocked assets affiliated with specified terrorist activity. Assets and interest confiscated under the bill must be deposited into a fund made available to the Federal Emergency Management Agency (FEMA) for grants related to terrorism prevention.
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Timeline
Introduced in House
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Emergency Preparedness, Response and Communications.
International Affairs
Bank accounts, deposits, capitalCongressional oversightForeign propertyGovernment studies and investigationsGovernment trust fundsInterest, dividends, interest ratesSanctionsTerrorism
To require the Secretary of the Treasury to confiscate interest paid on certain frozen bank accounts, to require the Secretary to confiscate certain frozen assets, and for other purposes.
USA115th CongressHR-6783| House
| Updated: 9/21/2018
Terrorist Asset Seizure Reform Act of 2018 This bill requires a financial institution to transfer to the Department of the Treasury (1) interest paid on certain bank accounts that are frozen as a result of sanctions; and (2) after providing notice and an opportunity for the owner to challenge, frozen or otherwise blocked assets affiliated with specified terrorist activity. Assets and interest confiscated under the bill must be deposited into a fund made available to the Federal Emergency Management Agency (FEMA) for grants related to terrorism prevention.
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Timeline
Introduced in House
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Emergency Preparedness, Response and Communications.
Daniel M. Donovan
Republican Representative
New York