S. 3316 — Introduced in Senate

II 117th CONGRESS 1st Session S. 3316 IN THE SENATE OF THE UNITED STATES December 6, 2021Mr. Grassley (for himself and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To provide for certain whistleblower incentives and protections. 1. Whistleblower incentives and protections Section 5323 of title 31, United States Code, as amended by section 6314 of the Anti-Money Laundering Act of 2020 (division F of Public Law 116–283) is amended by striking subsection (b) and inserting the following: (b) Awards (1) In general In any covered judicial or administrative action, or related action, the Secretary, under regulations prescribed by the Secretary, in consultation with the Attorney General and subject to subsection (c), shall pay an award or awards to 1 or more whistleblowers who voluntarily provided original information to the employer of the individual, the Secretary, or the Attorney General, as applicable, that led to the successful enforcement of the covered judicial or administrative action, or related action, in an aggregate amount equal to— (A) not less than 10 percent, in total, of what has been collected of the monetary sanctions imposed in the action or related actions; and (B) not more than 30 percent, in total, of what has been collected of the monetary sanctions imposed in the action or related actions. (2) Payment of awards Any amount paid under paragraph (1) shall be paid from the Fund established under paragraph (3). (3) Source of awards (A) In general There shall be established in the Treasury of the United States a revolving fund to be known as the Financial Integrity Fund (referred to in this subsection as the Fund). (B) Use of Fund The Fund shall be available to the Secretary, without further appropriation or fiscal year limitations, only for the payment of awards to whistleblowers as provided in subsection (b). (C) Restrictions on use of fund The Fund shall not be available to pay any personnel or administrative expenses. (4) Deposits and credits (A) In general There shall be deposited into or credited to the Fund an amount equal to— (i) any monetary sanction collected by the Secretary or Attorney General in any judicial or administrative action under this title unless the balance of the Fund at the time the monetary judgement is collected exceeds $300,000,000; and (ii) all income from investments made under paragraph (5). (B) Additional amounts If the amounts deposited into or credited to the Fund under subparagraph (A) are not sufficient to satisfy an award made under this subsection, there shall be deposited into or credited to the Fund an amount equal to the unsatisfied portion of the award from any monetary sanction collected by the Secretary of the Treasury or Attorney General in the covered judicial or administrative action on which the award is based. (5) Investments (A) Amounts in Fund may be invested The Secretary of the Treasury may invest the portion of the Fund that is not required to meet the current needs of the Fund. (B) Eligible investments Investments shall be made by the Secretary of the Treasury in obligations of the United States or obligations that are guaranteed as to principal and interest by the United States, with maturities suitable to the needs of the Fund as determined by the Secretary. (C) Interest and proceeds credited The interest on, and the proceeds from the sale or redemption of, any obligations held in the Fund shall be credited to, and form a part of, the Fund. .