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119-s-3608119th Congress

Trade Transparency Unit Strategy Act

Sponsored By: Senator Sheehy, Tim [R-MT]

Introduced

Summary

Boosts federal use of Trade Transparency Units to detect and dismantle international money laundering. This bill would require the Secretary of Homeland Security, working with the Secretaries of State, Commerce, and the Treasury, to deliver a strategy within 180 days to expand information sharing through Trade Transparency Units and improve interagency and multilateral cooperation.

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  • Federal agencies: Requires a coordinated strategy to expand information sharing among U.S. Customs and Border Protection, Homeland Security Investigations, relevant Department of Commerce offices, and the Financial Crimes Enforcement Network (FinCEN).
  • Foreign partners: Directs the strategy to increase data sharing with appropriate counterparts in foreign customs agencies through Trade Transparency Units.
  • Congress and oversight: The strategy must be submitted in unclassified form and may include a classified annex. The Comptroller General must assess the strategy and report to specified House and Senate committees within 180 days after submission.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Plan to share more trade data

If enacted, the Secretary of Homeland Security would write a strategy. The Secretary would coordinate with the Secretaries of State, Commerce, and the Treasury. The strategy would be due not later than 180 days after the date of enactment. It would aim to expand information sharing through Trade Transparency Units. Those changes would cover U.S. Customs and Border Protection, Homeland Security Investigations, relevant parts of the Commerce Department, FinCEN, and foreign customs counterparts. The strategy would be submitted in unclassified form and may include a classified annex. It would be sent to specific House and Senate committees named in the bill. Not later than 180 days after the strategy is submitted, the Comptroller General would send those committees a report assessing the strategy. The bill would not authorize new funding.

Sponsors & CoSponsors

Sponsor

Sheehy, Tim [R-MT]

MT • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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