US HB4084 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on July 26 2019 - 25% progression, died in committee
Action: 2019-07-26 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Imposes financial sanctions and restrictions related to North Korea. The Department of the Treasury shall restrict correspondent and payable-through accounts that are used to facilitate significant transactions or provide services to sanctioned entities, specifically North Korean financial institutions, companies, and certain North Korean individuals, such as those named in certain executive orders. (Correspondent and payable-through accounts are often maintained by foreign financial institutions in U.S. banks to access the U.S. financial system.) Treasury shall use its vote and voice in international financial institutions, such as the International Monetary Fund (IMF), to oppose the provision of assistance by such institutions to governments that fail to enforce the sanctions provided under this bill. The Export-Import Bank may not guarantee, insure, or extend credit in relation to exports to entities sanctioned under this bill. Treasury shall support increasing use of the IMF administrative budget for technical assistance to help IMF members fight money laundering and funding for terrorism. Various sanctions and restrictions under this bill shall be suspended if the President certifies to Congress that (1) North Korea has committed to suspending its weapons of mass destruction programs and engaging in multilateral talks on limiting such programs, or (2) it is in U.S. national security interests to do so.

Tracking Information

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Title

Otto Warmbier North Korea Nuclear Sanctions Act of 2019

Sponsors


History

DateChamberAction
2019-07-26HouseReferred to the House Committee on Financial Services.
2019-07-26HouseIntroduced in House

Same As/Similar To

HB2500 (Related) 2020-08-11 - Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 512.
SB1790 (Related) 2019-12-20 - Became Public Law No: 116-92. (TXT | PDF)
HR758 (Similar To) 2019-12-11 - Mr. Nadler moved to table the motion to reconsider
HB4367 (Related) 2019-09-17 - Referred to the House Committee on Financial Services.

Subjects


US Congress State Sources


Bill Comments

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