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115-hr-6783115th Congress

Terrorist Asset Seizure Reform Act of 2018

Sponsored By: Representative Donovan, Daniel M., Jr. [R-NY-11]

Unknown

Summary

Terrorist Asset Seizure Reform Act of 2018 This bill requires a financial institution to transfer to the Department of the Treasury (1) interest paid on certain bank accounts that are frozen as a result of sanctions; and (2) after providing notice and an opportunity for the owner to challenge, frozen or otherwise blocked assets affiliated with specified terrorist activity. Assets and interest confiscated under the bill must be deposited into a fund made available to the Federal Emergency Management Agency (FEMA) for grants related to terrorism prevention.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Donovan, Daniel M., Jr. [R-NY-11]

NY • R

Cosponsors

  • Sen. Budd, Ted [R-NC]

    NC • R

    Sponsored 9/12/2018

  • Rep. McCaul, Michael T. [R-TX-10]

    TX • R

    Sponsored 9/12/2018

Roll Call Votes

No roll call votes available for this bill.

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