,,ib ,union ,calendar ,no4 #cd #aaith   
,,congress  #ast ,session  ,h4 ,r4 #adej
 ,report ,no4 #aai-dg1 ,part ,i ,,in    
,,the ,,house ,,of ,,representatives    
,february #ba1 #bjbe,mrs4 ,beatty 7for  
herself and ,mr4 ,nunn of ,iowa7        
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services1 and in addition to
 the ,committee on ,foreign ,affairs1   
for a period to be subsequently         
determined by the ,speaker1 in each case
 for consideration of such provisions as
 fall within the jurisdiction of the    
committee concerned  ,march #bg1        
#bjbe,reported from the ,committee on   
,financial ,services  ,march #bg1       
#bjbe;,committee on ,foreign ,affairs   
discharged2 committed to the ,committee 
of the ,whole ,house on the ,state of   
the ,union and ordered to be printed  ,a
 ,,bill  ,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'               
investigations1 and for other purposes4 
#a4 ,short title ,this ,act may be cited
 as the ,,ofac ,licensure for           
,investigators ,act4  #b4 ,sending and  
receiving of nominal amounts  7a7 ,in   
general ,the ,director of the ,office of
 ,foreign ,assets ,control shall1 not   
later than #a year after the date of the
 enactment of this section1 establish a 
pilot program under which a private     
sector firm may receive a license to    
conduct nominal financial transactions  
in furtherance of the firm's            
investigations4  7b7 ,coordination ,when
 establishing and carrying out the pilot
 program required under subsection 7a71 
the ,director of the ,office of ,foreign
 ,assets ,control shall coordinate with 
the ,director of the ,financial ,crimes 
,enforcement ,network for the purposes  
of supporting activities of the         
,financial ,crimes ,enforcement ,network
 ,exchange1 as described in section     

#caj7;d7 of title #ca of the ,united    
,states ,code4  7c7 ,reporting on       
activities ,each private sector firm    
that receives a license described under 
subsection 7a7 shall submit a detailed  
monthly report to the ,director of the  
,office of ,foreign ,assets ,control on 
the activities of the firm conducted    
under such license4  7d7 ,report to     
,congress  7#a7 ,in general ,on the date
 that is #a year after the date on which
 the pilot program is established under 
this section1 and annually thereafter   
until the end of the #a-year period     
beginning on the date the pilot program 
is terminated1 the ,director of the     
,office of ,foreign ,assets ,control    
shall submit a report to the ,committees
 on ,financial ,services and ,foreign   
,affairs of the ,house of               
,representatives and the ,committees on 
,banking1 ,housing1 and ,urban ,affairs 
and ,foreign ,relations of the ,senate  
containing-- 7,a7 the number of licenses
 requested under the pilot program2     

7,b7 the number of licenses granted     
under the pilot program2 and  7,c7 a    
broad discussion of the utility of the  
pilot program4  7#b7 ,classified        
briefing ,after submission of each      
report required under paragraph 7#a71   
the ,director of the ,office of ,foreign
 ,assets ,control shall provide the     
,committees on ,financial ,services and 
,foreign ,affairs of the ,house of      
,representatives and the ,committees on 
,banking1 ,housing1 and ,urban ,affairs 
and ,foreign ,relations of the ,senate  
with a classified briefing containing-- 
7,a7 additional detail on the applicants
 for a license under the pilot program2 
7,b7 identification of the firms granted
 a license2  7,c7 information on the    
operation of the pilot program1         
including how long each license lasted  
and the personnel needed to manage the  
pilot program2  7,d7 information gleaned
 by the ,office of ,foreign ,assets     
,control from running the pilot program2
  7,e7 the utility of that information2 

7,f7 any obstacles to the operation or  
utility of the pilot program2 and  7,g7 
any recommendations for improving or    
extending the pilot program4  7e7       
,termination ,the pilot program         
established by the ,director of the     
,office of ,foreign ,assets ,control    
under subsection 7a7 shall terminate on 
the date that is #e years after the date
 on which the ,director of the ,office  
of ,foreign ,assets ,control establishes
 such program4  ,march #bg1             
#bjbe,reported from the ,committee on   
,financial ,services,march #bg1         
#bjbe;,committee on ,foreign ,affairs   
discharged2 committed to the ,committee 
of the ,whole ,house on the ,state of   
the ,union and ordered to be printed