PRIA, Government Policy, Made Personal

Summary

Provides money for two government offices and explains why one of them is needed. Congress says the Treasury’s Office of Terrorism and Financial Intelligence (which includes the Office of Foreign Assets Control and the Financial Crimes Enforcement Network) is key to stopping terrorists and the spread of weapons by keeping the global financial system safe. The Treasury Secretary, most recently on June 16, 2010, named various Iranian people and companies in banking, military, energy, and shipping as weapons proliferators under Executive Order 13382 and blocked U.S. transactions with them and their supporters. The Secretary also identified insurance, petroleum, and petrochemical companies owned or controlled by Iran and added them to the Iran rules to stop U.S. business with them. Authorizes $102,613,000 for the Treasury office for fiscal year 2011, and as much as needed for fiscal years 2012 and 2013. Authorizes $113,000,000 for the Commerce Department’s Bureau of Industry and Security for fiscal year 2011, and as much as needed for fiscal years 2012 and 2013.

Title 22, §8517

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Findings

Congress finds the following:

(1)The work of the Office of Terrorism and Financial Intelligence of the Department of the Treasury, which includes the Office of Foreign Assets Control and the Financial Crimes Enforcement Network, is critical to ensuring that the international financial system is not used for purposes of supporting terrorism and developing weapons of mass destruction.

(2)The Secretary of the Treasury has designated, including most recently on June 16, 2010, various Iranian individuals and banking, military, energy, and shipping entities as proliferators of weapons of mass destruction pursuant to Executive Order 13382 (50 U.S.C. 1701 note), thereby blocking transactions subject to the jurisdiction of the United States by those individuals and entities and their supporters.

(3)The Secretary of the Treasury has also identified an array of entities in the insurance, petroleum, and petrochemicals industries that the Secretary has determined to be owned or controlled by the Government of Iran and added those entities to the list contained in Appendix A to part 560 of title 31, Code of Federal Regulations (commonly known as the “Iranian Transactions Regulations”), thereby prohibiting transactions between United States persons and those entities.

(b)Authorization of appropriations for Office of Terrorism and Financial Intelligence

There are authorized to be appropriated to the Secretary of the Treasury for the Office of Terrorism and Financial Intelligence—

(1)$102,613,000 for fiscal year 2011; and

(2)such sums as may be necessary for each of the fiscal years 2012 and 2013.

(c)Omitted

(d)Authorization of appropriations for Bureau of Industry and Security of the Department of Commerce

There are authorized to be appropriated to the Secretary of Commerce for the Bureau of Industry and Security of the Department of Commerce—

(1)$113,000,000 for fiscal year 2011; and

(2)such sums as may be necessary for each of the fiscal years 2012 and 2013.

Termination of SectionFor termination of section, see section 8551(a) of this title.

Editorial Notes

Codification Section is comprised of section 109 of Pub. L. 111–195. Subsec. (c) of section 109 of Pub. L. 111–195 amended section 310 of Title 31, Money and Finance.

§8517 Increased Capacity for Efforts to Combat Unlawful or Terrorist Financing

Summary

Title 22, §8517

Notes & Related Subsidiaries

Editorial Notes

Citations & Metadata