,,ii  #aai? ,,congress  #a/ ,session    
,s4 #bdjj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bc1 #bjbe,mr4   
,fett]man 7= himself1 ,mr4 ,grassley1   
,mr4 ,:iteh\se1 ,mr4 ,mc,cormick1 ,mr4  
,kim1 & ,mr4 ,cassidy7 introduc$ !      
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,bank+1 ,h\s+1 &     
,urban ,affairs  ,a ,,bill  ,to am5d    
title #ca1 ,unit$ ,/ates ,code1 to      
subject c]ta9 art trad]s to provisions  
relat+ to records & reports on monet>y  
in/rum5ts transactions4  #a4 ,%ort title
 ,?is ,act may be cit$ z ! ,art ,m>ket  
,integrity ,act4  #b4 ,records & reports
 on monet>y in/rum5ts transactions  7a7 
,records & reports  7#a7 ,9 g5]al       
,section #ecab ( title #ca1 ,unit$      
,/ates ,code1 is am5d$-- 7,a7 9         
subsection 7a77#b7-- 7i7 by r$esignat+  
subp>agraphs 7,y7 & 7,z7 z subp>agraphs 
7,z7 & 7,,aa71 respectively2 &  7ii7 by 
ins]t+ aft] subp>agraph 7,x7 ! foll[+3  
7,y7 a p]son engag$ 9 ! trade 9 works ( 
art1 includ+ a deal]1 advisor1          

consultant1 cu/odian1 gall]y1 auction   
h\se1 museum1 collector1 or any o!r     
p]son :o engages z a bus9ess z an       
int]m$i>y 9 ! sale ( works ( art1 unless
 ! p]son-- 7i7 dur+ ! prior ye>1        
p>ticipat$ 9 no s+le transaction valu$  
ov] #aj1jjj t involv$ a "w ( art2  7ii7 
has n1 dur+ ! prior ye>1 p>ticipat$ 9   
total transactions valu$ at #ej1jjj t   
involv$ a "w ( art2 or  7iii7 is a p]son
 engag$ 9 ! art m>ket = ! sole purpose (
 sell+ works ( art creat$ by ! p]son4  2
 &  7,b7 9 subsection 7c71 by add+ at ! 
end ! foll[+3  7#b7 ,"w ( art ,! t]m "w 
( art means any orig9al pa9t+1          
sculpture1 wat]color1 pr9t1 draw+1      
photograph1 in/allation art1 or video   
art1 n includ+-- 7,a7 appli$ art su* z  
product design1 fa%ion design1          
ar*itectural design1 or int]ior design2 
or  7,b7 mass-produc$ decorative art1   
includ+ c]amics1 textiles1 or c>pets4  4
  7#b7 ,effective date ,! am5dm5ts made 
by p>agraph 7#a7 %all take effect on !  
e>li] (-- 7,a7 ! effective date ( !     

rules issu$ "u subsection 7c72 &  7,b7 !
 date t is #cfj days aft] ! date (      
enactm5t ( ?is ,act4  7b7 ,m&atory      
update to ,treasury guidance on art     
transactions  7#a7 ,9 g5]al ,n lat] ?an 
#cfj days aft] ! date ( enactm5t ( ?is  
,act1 ! ,secret>y ( ! ,treasury %all    
issue updat$ guidance to ! advisory     
issu$ by ! ,(fice ( ,=eign ,asset       
,control on ,octob] #cj1 #bjbj1 reg>d+ !
 risks ( high-value artwork transactions
 involv+ sanction$ p]sons or entities4  
7#b7 ,int]ag5cy coord9ation ,! ,secret>y
 ( ,treasury %all consult & coord9ate ) 
appropriate ,f$]al ag5cies to update !  
guidance describ$ 9 p>agraph 7#a74  7c7 
,rulemak+ ,n lat] ?an #ahj days aft] !  
date ( enactm5t ( ?is ,act1 ! ,secret>y 
( ! ,treasury 7act+ ?r\gh ! ,director ( 
! ,f9ancial ,crimes ,en=cem5t ,network71
 9 consultation & coord9ation )         
appropriate ,f$]al ag5cies1 %all issue  
propos$ rules to c>ry out ! am5dm5ts    
made by subsection 7a71 includ+-- 7#a7  
det]m9+ :i* p]sons %\ld be subject to ! 

rulemak+ bas$ on dome/ic or int]national
 geographical location2  7#b7 ! degree  
to :i* ! regulations %\ld apply bas$ on 
/atus z an ag5t or int]m$i>y act+ on    
behalf ( a pur*as]2 &  7#c7 :e!r c]ta9  
exemptions %\ld apply to ! regulations4 
7d7 ,te*nical & con=m+ am5dm5ts ,section
 #faaj7;a7 ( ! ,anti-,money ,laund]+    
,act ( #bjbj 7title ,,lxi ( division ,f 
( ! ,william ,m4 7,mac7 ,?ornb]ry       
,national ,def5se ,au?orization ,act =  
,fiscal ,ye> #bjba 7,public ,law        
#aaf-bhc2 #acd ,/at4 #defa77 is am5d$-- 
7#a7 9 p>agraph 7#a7-- 7,a7 9           
subp>agraph 7,a7-- 7i7 by /rik+         
subp>agraphs 7,z7 & 7,,aa7 & ins]t+     
subp>agraphs 7,,aa7 & 7,,bb72 &  7ii7 by
 /rik+ subp>agraphs 7,y7 & 7,z7 & ins]t+
 subp>agraphs 7,z7 & 7,,aa72 &  7,b7 9  
subp>agraph 7,b7-- 7i7 by /rik+         
subp>agraph 7,x7 & ins]t+ subp>agraph   
7,y72 &  7ii7 by /rik+ #87,y7 a & ins]t+
 #87,x7 a2 &  7#b7 9 p>agraph 7#b71 by  
/rik+ ,section #ecab7;a77#b77,y7 &      
ins]t+ ,section #ecab7;a77#b77,x74