§9265a Reports on Certain Licensing Actions

Summary

Not later than 180 days after December 20, 2019, and every 180 days after that, the President must send Congress a report about how the license system worked for transactions covered by certain U.S. regulations in the prior 180 days. Each report must say how many and what kinds of licenses were applied for, how many were issued, and who got 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 listed 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 for it within 30 days after the report is sent. Reports and license copies must be unclassified but can include a classified annex. Appropriate Member of Congress: the chair or ranking member of the House Financial Services Committee or the chair or ranking member of the Senate Banking, Housing, and Urban Affairs Committee. Covered regulatory provision: parts 743, 744, or 746 of title 15 CFR; part 510 of title 31 CFR; and any other parts of title 31 CFR that related to North Korea as of the day before December 20, 2019.