§9265a Reports on certain licensing actions

Summary

The President must send a report every 180 days, starting within 180 days after December 20, 2019, about how the license system for certain transactions worked during the prior 180-day period. Each report must say how many and what kinds of licenses were applied for, and how many were issued, plus who received each issued license. The reports go to the House Committees on Financial Services and Foreign Affairs, and to the Senate Committees on Banking, Housing, and Urban Affairs and Foreign Relations. The Secretary of the Treasury must quickly give a copy of any license named in a report to the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee if an appropriate Member of Congress asks within 30 days. Reports and license copies must be unclassified but can include a classified annex. “Appropriate Member of Congress” means the chair or ranking member of those two committees. “Covered regulatory provision” means parts 743, 744, or 746 of 15 CFR and part 510 and other parts of 31 CFR as they existed the day before December 20, 2019, as they relate to North Korea.