,,ii  #aaith ,,congress  #ast ,session  
,s4 #cjag  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,october #bj1  
#bjbe ,mr4 ,kennedy 7for himself1 ,mr4  
,scott of ,south ,carolina1 ,mr4        
,rounds1 ,mrs4 ,britt1 ,ms4 ,lummis1    
,mr4 ,hagerty1 ,mr4 ,crapo1 ,mr4        
,moreno1 and ,mr4 ,ricketts7 introduced 
the following bill2 which was read twice
 and referred to the ,committee on      
,banking1 ,housing1 and ,urban ,affairs 
,a ,,bill  ,to require updates to the   
threshold amounts applicable to certain 
currency transaction reports1 and for   
other purposes4  #a4  ,short title      
,this ,act may be cited as the          
,streamlining ,transaction ,reporting   
and ,ensuring ,anti-,money ,laundering  
,improvements for a ,new ,era ,act or   
the ,,streamline ,act4  #b4  ,treasury  
reports  7a7  ,thresholds for currency  
transaction reports  7#a7  ,currency    
transaction reports  7,a7  ,initial     
updated threshold  ,not later than #ahj 
days after the date of enactment of this

 ,act1 the ,secretary of the ,treasury  
shall issue regulations pursuant to     
sections #ecac and #ecae of title #ca1  
,united ,states ,code1 to update each   
threshold amount under such regulations 
that is #aj1jjj to be #cj1jjj4  7,b7    
,inflation adjustment  7i7  ,in general 
,not later that #e years after the date 
on which the ,secretary of the ,treasury
 updates regulations under subparagraph 
7,a71 and every #e years thereafter1 the
 ,secretary of the ,treasury shall issue
 regulations pursuant to sections #ecac 
and #ecae of title #ca1 ,united ,states 
,code1 to update each threshold amount  
under such regulations required to be   
updated under subparagraph 7,a7 to      
reflect the change during the applicable
 #e-year period in the ,consumer ,price 
,index for ,all ,urban ,consumers       
published by the ,bureau of ,labor      
,statistics of the ,department of       
,labor1 which shall be rounded to the   
nearest multiple of #a1jjj4  7ii7       
,effective date  ,each adjustment under 

clause 7i7 shall take effect on the     
first ,january #a occurring after the   
date on which the ,secretary of the     
,treasury publishes the adjustment4     
7#b7  ,reports relating to coins and    
currency received in nonfinancial trade 
or business  ,section #ecca of title    
#ca1 ,united ,states ,code1 is amended--
 7,a7 by striking #aj1jjj each place it 
appears in a heading or the text and    
inserting #cj1jjj2 and  7,b7 by adding  
at the end the following3  7e7 ,updates 
for inflation  7#a7 ,in general ,not    
later than #e years after the date of   
enactment of this subsection1 and every 
#e years thereafter1 the ,secretary of  
the ,treasury shall update each dollar  
figure under this section to reflect the
 change during the applicable #e-year   
period in the ,consumer ,price ,index   
for ,all ,urban ,consumers published by 
the ,bureau of ,labor ,statistics of the
 ,department of ,labor1 which shall be  
rounded to the nearest multiple of      
#a1jjj4  7#b7  ,effective date  ,each   

adjustment under paragraph 7#a7 shall   
take effect on the first ,january #a    
occurring after the date on which the   
,secretary of the ,treasury publishes   
the adjustment4  4  7b7  ,thresholds for
 suspicious activity reports  ,not later
 than #ahj days after the date of       
enactment of this ,act1 the head of each
 ,federal agency that issues regulations
 with respect to reports on suspicious  
transactions described under section    
#ecah7;g7 of title #ca1 ,united ,states 
,code1 shall update each threshold      
amount under such regulations that is   
#b1jjj to be #c1jjj and each threshold  
amount under such regulations that is   
#e1jjj to be #aj1jjj4  7c7  ,review and 
report  ,not later than #cfj days after 
the date of enactment of this ,act1 the 
,secretary of the ,treasury shall--     
7#a7 review the forms and reporting and 
recordkeeping requirements issued       
pursuant to sections #ecac1 #ecae1 and  
#ecah of title #ca1 ,united ,states     
,code1 which shall include an analysis  

on the aggregation1 prioritization1 and 
automation of those forms and           
requirements1 to ensure that such forms 
and reporting requirements are effective
 and efficient in identifying illicit   
finance activity2  7#b7 update the forms
 and requirements described in paragraph
 7#a7 as the ,secretary of the ,treasury
 determines necessary and consistent    
with section #ecah7;g77#e7 of title #ca1
 ,united ,states ,code2  7#c7 conduct   
the reviews and submit the reports      
required under sections #fbjd1 #fbje1   
and #fbaf of the ,anti-,money           
,laundering ,act of #bjbj 7division ,f  
of the ,william ,m4 7,mac7 ,thornberry  
,national ,defense ,authorization ,act  
for ,fiscal ,year #bjba2 #acd ,stat4    
#defi2 #ca ,u4,s4,c4 #ecac note1 #ca    
,u4,s4,c4 #ecaa note72 and  7#d7 submit 
to the ,committee on ,banking1 ,housing1
 and ,urban ,affairs of the ,senate and 
the ,committee on ,financial ,services  
of the ,house of ,representatives a     
report that--  7,a7 summarizes the      

results of the review conducted under   
paragraph 7#a72 and  7,b7 includes      
recommendations for updating the forms  
and requirements described in paragraph 
7#a74  7d7  ,rule of construction       
,nothing in this section shall be       
construed to-- 7#a7 alter the ability of
 the ,secretary of the ,treasury to     
issue geographic targeting orders       
pursuant to section #ecbf of title #ca1 
,united ,states ,code2  7#b7 alter any  
legal grounds for any geographic        
targeting order issued on or before the 
date of enactment of this ,act2 or  7#c7
 alter the ability of the ,secretary of 
the ,treasury to reduce reporting       
thresholds when consistent with all     
applicable law4