[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4366 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 4366

 To require oversight of licenses involving financial services and the 
     Democratic People's Republic of Korea, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 17, 2019

Mr. Riggleman introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To require oversight of licenses involving financial services and the 
     Democratic People's Republic of Korea, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``North Korea Banking Oversight Act of 
2019''.

SEC. 2. OVERSIGHT OF LICENSES INVOLVING FINANCIAL SERVICES AND THE 
              DEMOCRATIC PEOPLE'S REPUBLIC OF KOREA.

    (a) In General.--Not later than 180 days after the date of the 
enactment of this Act, and every 180 days thereafter, the Secretary of 
the Treasury shall transmit to the Committee on Financial Services of 
the House of Representatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate a report containing a copy of any license 
issued by the Secretary in the preceding 180 days that authorizes a 
financial institution to provide financial services benefitting any 
person sanctioned pursuant to an applicable Executive Order or the 
North Korea Sanctions and Policy Enhancement Act of 2016 (22 U.S.C. 
9201 et seq.).
    (b) Form of Report.--The report required under subsection (a) shall 
be submitted in unclassified form but may contain a classified annex.

SEC. 3. DEFINITIONS.

    For purposes of this Act:
            (1) Applicable executive order.--The term ``applicable 
        Executive Order'' has the meaning given that term under section 
        3 of the North Korea Sanctions and Policy Enhancement Act of 
        2016 (22 U.S.C. 9202).
            (2) Financial institution.--The term ``financial 
        institution'' means a United States financial institution or a 
        foreign financial institution.
            (3) Foreign financial institution.--The term ``foreign 
        financial institution'' has the meaning given that term under 
        section 510.309 of title 31, Code of Federal Regulations.
            (4) United states financial institution.--The term ``United 
        States financial institution'' has the meaning given the term 
        ``U.S. financial institution'' under section 510.328 of title 
        31, Code of Federal Regulations.

SEC. 4. SUNSET.

    The reporting requirement under this Act shall terminate on the 
date that is the end of the 7-year period beginning on the date of the 
enactment of this Act.
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