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I
116TH CONGRESS
1ST SESSION H. R. 4367
To support the capacity of the International Monetary Fund to prevent
money laundering and financing of terrorism.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 17, 2019
Mr. JOHN W. ROSE of Tennessee introduced the following bill; which was
referred to the Committee on Financial Services
A BILL
To support the capacity of the International Monetary Fund
to prevent money laundering and financing of terrorism.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Fight Illicit Finance
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through Technical Assistance Act of 2019’’.
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SEC. 2. SUPPORT FOR IMF CAPACITY TO PREVENT MONEY
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LAUNDERING
AND
FINANCING
OF
TER-
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RORISM.
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(a) INTERNATIONAL MONETARY FUND.—Title XVI
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of the International Financial Institutions Act (22 U.S.C.
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262p et seq.) is amended by adding at the end the fol-
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lowing:
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‘‘SEC. 1629. SUPPORT FOR CAPACITY OF THE INTER-
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NATIONAL MONETARY FUND TO PREVENT
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MONEY LAUNDERING AND FINANCING OF
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TERRORISM.
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‘‘(a) IN GENERAL.—The Secretary of the Treasury
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shall instruct the United States Executive Director at the
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International Monetary Fund to use the voice and vote
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of the United States to support the increased use of the
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administrative budget of the Fund for technical assistance
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that strengthens the capacity of Fund members to prevent
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money laundering and the financing of terrorism.
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‘‘(b) SUNSET.—This section shall cease to have force
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or effect 5 years after the date of the enactment of this
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section.’’.
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(b) NATIONAL ADVISORY COUNCIL REPORT TO CON-
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GRESS.—
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(1) IN GENERAL.—The Chairman of the Na-
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tional Advisory Council on International Monetary
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and Financial Policies shall include in the report re-
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quired by section 1701 of the International Finan-
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cial Institutions Act a description of—
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(A) the activities of the International Mon-
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etary Fund in the most recently completed fis-
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cal year to provide technical assistance that
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strengthens the capacity of Fund members to
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prevent money laundering and the financing of
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terrorism, and the effectiveness of the assist-
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ance; and
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(B) the efficacy of efforts by the United
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States to support the technical assistance
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through the use of the administrative budget of
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the International Monetary Fund.
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(2) SUNSET.—This subsection shall cease to
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have force or effect 5 years after the date of the en-
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actment of this Act.
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Æ
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