,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #edca  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #aj1 #bjad  
,mr4 ,fitzpatrick introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,=eign ,affairs1 & 9 addition to !      
,committees on ,ov]sight & ,gov]nm5t    
,re=m & ,f9ancial ,s]vices1 = a p]iod to
 be subsequ5tly det]m9$ by ! ,speak]1 9 
ea* case = consid]ation ( su* provisions
 z fall )9 ! jurisdiction ( ! committee 
conc]n$  ,a ,,bill  ,to impose sanctions
 on =eign f9ancial in/itutions t engage 
9 c]ta9 transactions ) ! ,islamic ,/ate 
( ,iraq & ,syria1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,isolat+ ,,isis ,act4  #b4 ,sanctions ) 
respect to =eign f9ancial in/itutions t 
engage 9 c]ta9 transactions  7a7        
,prohibitions & conditions ) respect to 
c]ta9 acc\nts held by =eign f9ancial    
in/itutions  7#a7 ,9 g5]al ,n lat] ?an  
#abj days aft] ! date ( ! enactm5t ( ?is
 ,act1 ! ,secret>y ( ! ,treasury1 9     
consultation ) ! ,secret>y ( ,/ate & !  

heads ( o!r applicable ,f$]al dep>tm5ts 
& ag5cies1 %all prohibit1 or impose     
/rict conditions on1 ! op5+ or ma9ta9+ 9
 ! ,unit$ ,/ates ( a correspond5t acc\nt
 or a payable-?r\gh acc\nt by a =eign   
f9ancial in/itution t ! ,secret>y ( !   
,treasury det]m9es1 on or aft] ! date ( 
! enactm5t ( ?is ,act1 engages 9 an     
activity describ$ 9 p>agraph 7#b74  7#b7
 ,activities describ$ ,a =eign f9ancial 
in/itution engages 9 an activity        
describ$ 9 ?is p>agraph if ! =eign      
f9ancial in/itution--  7,a7 kn[+ly      
facilitates a transaction or            
transactions = ! ,islamic ,/ate ( ,iraq 
& ,syria2  7,b7 kn[+ly facilitates a    
transaction or transactions ( a p]son   
designat$ = act+ on behalf ( or at !    
direction (1 or own$ or controll$ by1 ! 
,islamic ,/ate ( ,iraq & ,syria2  7,c7  
kn[+ly engages 9 money laund]+ to c>ry  
out an activity describ$ 9 subp>agraph  
7,a7 or 7,b72  7,d7 kn[+ly facilitates a
 transaction or transactions or provides
 f9ancial s]vices to c>ry out an        

activity describ$ 9 subp>agraph 7,a71   
7,b71 or 7,c71 includ+--  7i7 facilitat+
 a transaction or transactions2 or  7ii7
 provid+ f9ancial s]vices t involve a   
transaction ( any goods2 or  7,e7  7i7  
kn[+ly facilitates1 or p>ticipates or   
assi/s 91 an activity describ$ 9        
subp>agraph 7,a71 7,b71 7,c71 or 7,d71  
includ+ by act+ on behalf (1 at !       
direction (1 or z an int]m$i>y =1 or    
o!rwise assi/+1 ano!r p]son ) respect to
 ! activity describ$ 9 any su*          
subp>agraph2  7ii7 kn[+ly attempts or   
conspires to facilitate or p>ticipate 9 
an activity describ$ 9 subp>agraph 7,a71
 7,b71 7,c71 or 7,d72 or  7iii7 is own$ 
or controll$ by a =eign f9ancial        
in/itution t ! ,secret>y f9ds kn[+ly    
engages 9 an activity describ$ 9        
subp>agraph 7,a71 7,b71 7,c71 or 7,d74  
7#c7 ,p5alties ,! p5alties provid$ = 9  
subsections 7b7 & 7c7 ( section #bjf ( !
 ,int]national ,em]g5cy ,economic ,p[]s 
,act 7#ej ,u4,s4,c4 #agje7 %all apply to
 a p]son t violates1 attempts to        

violate1 conspires to violate1 or causes
 a violation ( ! prohibition or /rict   
conditions ref]r$ to 9 p>agraph 7#a7 (  
?is subsection to ! same ext5t t su*    
p5alties apply to a p]son t commits an  
unlawful act describ$ 9 subsection 7a7 (
 su* section #bjf4  7#d7 ,regulations ,!
 ,secret>y ( ! ,treasury %all prescribe 
& implem5t regulations to c>ry out ?is  
subsection4  7b7 ,waiv]  7#a7 ,9 g5]al  
,! ,secret>y ( ! ,treasury1 9           
consultation ) ! ,secret>y ( ,/ate & !  
heads ( o!r applicable ,f$]al dep>tm5ts 
& ag5cies1 may waive1 on a case-by-case 
basis1 ! application ( a prohibition or 
condition impos$ ) respect to a =eign   
f9ancial in/itution pursuant to         
subsection 7a7 = a p]iod ( n m ?an #ahj 
days1 & may r5ew t waiv] = additional   
p]iods ( n m ?an #ahj days1 on & aft] ! 
date t ! ,secret>y ( ! ,treasury1 9     
consultation ) ! ,secret>y ( ,/ate--    
7,a7 det]m9es t su* a waiv] is 9 !      
national security int]e/s ( ! ,unit$    
,/ates2 &  7,b7 submits to ! appropriate

 congressional committees a report      
describ+ ! reasons = ! det]m9ation4     
7#b7 ,=m ,! report requir$ by           
subp>agraph 7#a7 %all be submitt$ 9     
unclassifi$ =m1 b may conta9 a classifi$
 annex4  7c7 ,provisions relat+ to =eign
 f9ancial in/itutions  7#a7 ,report ,n  
lat] ?an #de days aft] ! date ( !       
enactm5t ( ?is ,act & e #ahj days       
!reaft]1 ! ,secret>y ( ! ,treasury %all 
submit to ! appropriate congressional   
committees a report t--  7,a7 id5tifies 
ea* =eign c5tral bank t ! ,secret>y     
det]m9es engages 9 "o or m activities   
describ$ 9 subsection 7a77#b77;,d72 &   
7,b7 provides a detail$ description (   
ea* su* activity4  7#b7 ,special rule to
 all[ = t]m9ation ( sanctionable        
activity ,! ,secret>y ( ! ,treasury %all
 n be requir$ to apply sanctions to a   
=eign f9ancial in/itution describ$ 9    
subsection 7a7 if ! ,secret>y ( !       
,treasury1 9 consultation ) ! ,secret>y 
( ,/ate & ! heads ( o!r applicable      
,f$]al dep>tm5ts & ag5cies1 c]tifies 9  

writ+ to ! appropriate congressional    
committees t--  7,a7 ! =eign f9ancial   
in/itution--  7i7 is no long] engag+ 9  
an activity describ$ 9 subsection       
7a77#b72 or  7ii7 has tak5 & is cont9u+ 
to take significant v]ifiable /eps t[>d 
t]m9at+ ! activity describ$ 9 subsection
 7a77#b72 &  7,b7 ! ,secret>y has       
receiv$ reliable assurances f ! gov]nm5t
 ) prim>y jurisdiction ov] ! =eign      
f9ancial in/itution t ! =eign f9ancial  
in/itution w n engage 9 any activity    
describ$ 9 subsection 7a77#b7 9 !       
future4  7d7 ,def9itions  7#a7 ,9 g5]al 
,9 ?is section3  7,a7 ,acc\nt2          
correspond5t acc\nt2 payable-?r\gh      
acc\nt ,! t]ms acc\nt1 correspond5t     
acc\nt1 & payable-?r\gh acc\nt h !      
mean+s giv5 ^? t]ms 9 section #ecah;,a (
 title #ca1 ,unit$ ,/ates ,code4  7,b7  
,f9ancial in/itution ,! t]m f9ancial    
in/itution means a f9ancial in/itution  
specifi$ 9 subp>agraph 7,a71 7,b71 7,c71
 7,d71 7,e71 7,f71 7,g71 7,h71 7,i71    
7,j71 7,k71 7,m71 7,n71 7,p71 7,r71     

7,t71 7,y71 or 7,z7 ( section           
#ecab7;a77#b7 ( title #ca1 ,unit$ ,/ates
 ,code4  7,c7 ,=eign f9ancial in/itution
 ,! t]m =eign f9ancial in/itution has ! 
mean+ ( su* t]m 9 section #ajaj4fje (   
title #ca1 ,code ( ,f$]al ,regulations1 
& includes a =eign c5tral bank4  7,d7   
,money laund]+ ,! t]m money laund]+     
means any ( ! activities describ$ 9     
p>agraph 7#a71 7#b71 or 7#c7 ( section  
#aief7;a7 ( title #ah1 ,unit$ ,/ates    
,code1 ) respect to :i* p5alties may be 
impos$ pursuant to su* section4  7#b7   
,o!r def9itions ,! ,secret>y ( !        
,treasury may fur!r def9e ! t]ms us$ 9  
?is section 9 ! regulations prescrib$ "u
 ?is section4  #c4 ,imposition (        
sanctions ) respect to ,unit$ ,/ates    
p]sons t engage 9 transactions ) c]ta9  
=eign p]sons  7a7 ,9 ,g5]al ,! ,presid5t
 %all impose sanctions 9 accordance )   
subsection 7c7 ) respect to ea* p]son on
 ! li/ requir$ by subsection 7b74  7b7  
,li/  7#a7 ,9 g5]al ,n lat] ?an #ij days
 aft] ! date ( ! enactm5t ( ?is ,act1 ! 

,presid5t %all submit to ! appropriate  
congressional committees a li/ ( ,unit$ 
,/ates p]sons t ! ,presid5t det]m9es h  
kn[+ly engag$ 9 an activity describ$ 9  
p>agraph 7#b7 on or aft] su* date (     
enactm5t4  7#b7 ,activity describ$  7,a7
 ,9 g5]al ,a p]son engages 9 an activity
 describ$ 9 ?is p>agraph if ! p]son     
kn[+ly engages 9 a transaction or       
transactions ) a =eign p]son t transf]s 
or receives1 or facilitates ! transf] or
 receipt (1 any goods or s]vices to or f
 ! ,islamic ,/ate ( ,iraq & ,syria4     
7,b7 ,applicability to contracts & o!r  
agreem5ts ,a p]son engages 9 an activity
 describ$ 9 subp>agraph 7,a7 )\t reg>d  
to :e!r ! activity is c>ri$ out pursuant
 to a contract or o!r agreem5t ent]$    
into be=e1 on1 or aft] ! date ( !       
enactm5t ( ?is ,act4  7#c7 ,special rule
 to all[ = t]m9ation ( sanctionable     
activity ,! ,presid5t %all n be requir$ 
to include a p]son on ! li/ requir$ by  
p>agraph 7#a7 if ! ,presid5t c]tifies 9 
writ+ to ! appropriate congressional    

committees t--  7,a7 ! p]son is no long]
 engag+ 91 or has tak5 significant      
v]ifiable /eps t[>d /opp+1 ! activity   
describ$ 9 p>agraph 7#b7 = :i* !        
,presid5t w\ld o!rwise h includ$ ! p]son
 on ! li/2 &  7,b7 ! ,presid5t has      
receiv$ reliable assurances t ! p]son w 
n kn[+ly engage 9 any activity describ$ 
9 p>agraph 7#b7 9 ! future4  7#d7       
,updates ( li/ ,! ,presid5t %all submit 
to ! appropriate congressional          
committees an updat$ li/ "u p>agraph    
7#a7 z new in=mation becomes available4 
7#e7 ,=m ( report2 public availability  
7,a7 ,=m ,! li/ requir$ by p>agraph 7#a7
 %all be submitt$ 9 unclassifi$ =m b may
 conta9 a classifi$ annex4  7,b7 ,public
 availability ,! unclassifi$ portion ( !
 li/ requir$ by p>agraph 7#a7 %all be   
made available to ! public & po/$ on !  
websites ( ! ,dep>tm5t ( ! ,treasury & !
 ,dep>tm5t ( ,/ate4  7c7 ,application ( 
,sanctions  7#a7 ,9 g5]al ,! ,presid5t  
%all impose sanctions describ$ 9        
p>agraph 7#b7 ) respect to a p]son on ! 

li/ requir$ by subsection 7b74  7#b7    
,sanctions ,! sanctions describ$ 9 ?is  
p>agraph are ! foll[+3  7,a7 ,no        
assi/ance may be provid$ to ! p]son "u !
 ,=eign ,assi/ance ,act ( #aifa 7#bb    
,u4,s4,c4 #baea et seq47 or ! ,arms     
,export ,control ,act 7#bb ,u4,s4,c4    
#bgea et seq474  7,b7 ,! ,unit$ ,/ates  
,gov]nm5t may n procure1 or ent] into   
any contract = ! procurem5t (1 any goods
 or s]vices f ! p]son4  7,c7 ,!         
,presid5t may impose additional         
sanctions1 z appropriate1 ) respect to !
 p]son 9 accordance ) ! ,int]national   
,em]g5cy ,economic ,p[]s ,act 7#ej      
,u4,s4,c4 #agja et seq474  7d7          
,def9itions ,9 ?is section3  7#a7 ,=eign
 p]son ,! t]m =eign p]son means--  7,a7 
an individual :o is n a ,unit$ ,/ates   
p]son or an ali5 lawfully admitt$ =     
p]man5t resid5ce into ! ,unit$ ,/ates2  
or  7,b7 a corporation1 p>tn]%ip1 or o!r
 nongov]nm5tal entity :i* is n a ,unit$ 
,/ates p]son4  7#b7 ,p]son  7,a7 ,9     
g5]al ,! t]m p]son means--  7i7 a       

natural p]son2  7ii7 a corporation1     
bus9ess association1 p>tn]%ip1 society1 
tru/1 f9ancial in/itution1 insur]1      
und]writ]1 gu>antor1 & any o!r bus9ess  
organization1 any o!r nongov]nm5tal     
entity1 organization1 or gr\p1 & any    
gov]nm5tal entity op]at+ z a bus9ess    
ent]prise2 &  7iii7 any successor to any
 entity describ$ 9 clause 7ii74  7,b7   
,application to gov]nm5tal entities ,!  
t]m p]son does n include a gov]nm5t or  
gov]nm5tal entity t is n op]at+ z a     
bus9ess ent]prise4  7#c7 ,unit$ /ates   
p]son ,! t]m ,unit$ ,/ates p]son means--
  7,a7 a natural p]son :o is a citiz5 ( 
! ,unit$ ,/ates or :o owes p]man5t      
allegiance to ! ,unit$ ,/ates2 &  7,b7 a
 corporation or o!r legal entity :i* is 
organiz$ "u ! laws ( ! ,unit$ ,/ates1   
any ,/ate or t]ritory !re(1 or !        
,di/rict ( ,columbia1 if natural p]sons 
describ$ 9 subp>agraph 7,a7 own1        
directly or indirectly1 m ?an #ej p]c5t 
( ! out/&+ capital /ock or o!r b5eficial
 int]e/ 9 su* legal entity4  #d4        

,regulatory au?ority  7a7 ,9 g5]al ,n   
lat] ?an #ij days aft] ! date ( !       
enactm5t ( ?is ,act1 ! ,presid5t %all   
promulgate regulations z necess>y = !   
implem5tation ( ?is ,act4  7b7          
,notification to ,congress ,n lat] ?an  
#aj days be=e ! promulgation (          
regulations "u subsection 7a71 !        
,presid5t %all notify ! appropriate     
congressional committees ( su* propos$  
regulations4  #e4 ,t]m9ation ,?is ,act  
%all cease to be 9 effect beg9n+ #cj    
days aft] ! date on :i* ! ,presid5t     
c]tifies to ,congress t ! ,islamic ,/ate
 ( ,iraq & ,syria--  7#a7 is no long]   
designat$ z a =eign t]rori/ organization
 pursuant to section #bai ( !           
,immigration & ,nationality ,act 7#h    
,u4,s4,c4 #aahi72  7#b7 is no long] li/$
 9 ! ,annex to ,executive ,ord] ,no4    
#acbbd 7,septemb] #bc1 #bjja2 relat+ to 
block+ prop]ty & prohibit+ transactions 
) p]sons :o commit1 ?reat5 to commit1 or
 support t]rorism72 &  7#c7 poses no    
significant ?reat to ,unit$ ,/ates      

national security1 int]e/s1 or allies4  
#f4 ,rule ( con/ruction ,no?+ 9 ?is ,act
 %all apply to ! au?oriz$ intellig5ce   
activities ( ! ,unit$ ,/ates4  #g4      
,def9itions ,9 ?is ,act3  7#a7          
,appropriate congressional committees ,!
 t]m appropriate congressional          
committees means--  7,a7 ! ,committee on
 ,=eign ,affairs & ! ,committee on      
,f9ancial ,s]vices ( ! ,h\se (          
,repres5tatives2 &  7,b7 ! ,committee on
 ,=eign ,relations & ! ,committee on    
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate4  7#b7 ,islamic ,/ate ( ,iraq &  
,syria ,! t]m ,islamic ,/ate ( ,iraq &  
,syria includes--  7,a7 any p]son--  7i7
 ! prop]ty ( or int]e/s 9 prop]ty ( :i* 
are block$ pursuant to ! ,int]national  
,em]g5cy ,economic ,p[]s ,act 7#ej      
,u4,s4,c4 #agja et seq472 &  7ii7 :o is 
id5tifi$ on ! li/ ( specially designat$ 
nationals & block$ p]sons ma9ta9$ by !  
,(fice ( ,=eign ,asset ,control ( !     
,dep>tm5t ( ! ,treasury z an ag5t1      
in/rum5tality1 or affiliate ( ! ,islamic

 ,/ate ( ,iraq & ,syria2 &  7,b7 !      
entity designat$ by ! ,secret>y ( ,/ate 
z a =eign t]rori/ organization pursuant 
to section #bai ( ! ,immigration &      
,nationality ,act 7#h ,u4,s4,c4 #aahi74