OFAC Licensure for Investigators Act | ChamberLight

PASSED HOUSE· 119TH CONGRESS

House BillHR 1450Licensing and registrationsFraud offenses and financial crimes

OFAC Licensure for Investigators Act

INTRO FEB 21· LAST ACTION JUL 22

READING

3MIN

COSPONSORS

READER REACTIONS0 TOTAL

NO VOTES YET · BE THE FIRST

One chamber only

LEGISLATIVE PROGRESS

STEP 4 / 8

Introduced

In Committee

Reported

Passed House

Passed Senate

Conference

To President

Became Law

WHAT THE BILL DOES

AI-written

This bill matters because it tries to strike a balance between enforcing U.S. sanctions, which are vital for national security and foreign policy, and allowing legitimate investigations into serious financial crimes. Without such a program, private investigators might be hesitant or unable to fully pursue complex financial schemes if their work requires them to interact, even nominally, with sanctioned entities or individuals.

If this bill becomes law, private firms could more effectively gather evidence and track illicit funds, potentially leading to more successful prosecutions of financial criminals and the recovery of stolen assets. This could enhance the overall effort to combat fraud, money laundering, and terrorism financing. If it doesn't become law, private investigators would continue to face the same legal hurdles when their investigations touch upon sanctioned parties, potentially limiting their ability to uncover and expose certain types of financial wrongdoing.

KEY PROVISIONS

5AI-extracted

PROVISION 01

Requires the Office of Foreign Assets Control (OFAC) to establish a five-year pilot program.

This creates a structured, temporary framework for a new type of licensing activity to address a specific investigative need.

PROVISION 02

Allows private sector firms to receive a license to conduct nominal financial transactions for their investigations.

This provides a legal exemption for specific investigative acts that might otherwise violate sanctions laws.

PROVISION 03

Mandates monthly reporting by licensed firms to OFAC on their activities.

This ensures transparency and oversight of the licensed activities, helping to prevent misuse of the program.

PROVISION 04

Requires OFAC to coordinate with the Financial Crimes Enforcement Network (FinCEN) when running the program.

This fosters inter-agency collaboration, aligning the pilot program with broader efforts to combat financial crimes.

PROVISION 05

Directs OFAC to submit annual reports and classified briefings to Congress on the pilot program's operation and utility.

This ensures congressional oversight and provides data for future decisions on the program's continuation or modification.

SPONSORSHIP

1 + 1

COSPONSOR BREAKDOWNBIPARTISAN · 0%

DEM 0 REP 1 IND 0

ACTION TIMELINE

14 EVENTS

JUL 22

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SENATE · INTROREFERRAL

JUL 21

Mr. Hill (AR) moved to suspend the rules and pass the bill.

HOUSE · FLOOR

JUL 21

Considered under suspension of the rules. (consideration: CR H3517-3518)

FLOOR

JUL 21

DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.

FLOOR

BILL INFO

TypeHouse Bill

NumberHR 1450

Congress119th

StatusPassed House

IntroducedFeb 21, 2025

Last actionJul 22, 2025

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PASSED HOUSE· 119TH CONGRESS · FOREIGN AFFAIRS COMMITTEE · INTRODUCED FEB 21, 2025

House BillHR 1450Licensing and registrationsFraud offenses and financial crimes

OFAC Licensure for Investigators Act

INTRODUCED FEB 21, 2025· LAST ACTION JUL 22, 2025

PASSAGE CHANCES

—%

READING

3 min

COSPONSORS

COMPLEXITY

Moderate

Call my reps

LEGISLATIVE PROGRESS

STEP 4 OF 8

Introduced

In Committee

Reported

Passed House

Passed Senate

Conference

To President

Became Law

Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law

WHAT THE BILL DOES

AI-written

KEY PROVISIONS

AI-extracted

high

Requires the Office of Foreign Assets Control (OFAC) to establish a five-year pilot program.

This creates a structured, temporary framework for a new type of licensing activity to address a specific investigative need.

high

Allows private sector firms to receive a license to conduct nominal financial transactions for their investigations.

This provides a legal exemption for specific investigative acts that might otherwise violate sanctions laws.

med

Mandates monthly reporting by licensed firms to OFAC on their activities.

This ensures transparency and oversight of the licensed activities, helping to prevent misuse of the program.

med

Requires OFAC to coordinate with the Financial Crimes Enforcement Network (FinCEN) when running the program.

This fosters inter-agency collaboration, aligning the pilot program with broader efforts to combat financial crimes.

med

Directs OFAC to submit annual reports and classified briefings to Congress on the pilot program's operation and utility.

This ensures congressional oversight and provides data for future decisions on the program's continuation or modification.

DEADLINES & DATES

AI-extracted

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Not later than 1 year after the date of enactment.

OFAC must establish the pilot program.

1 year after the pilot program is established.

OFAC must submit the first report to Congress.

Annually thereafter until 1 year after the program terminates.

OFAC must submit subsequent reports to Congress.

5 years after the date on which OFAC establishes the program.

Pilot program terminates.

GLOSSARY

AI-written

Office of Foreign Assets Control (OFAC): A U.S. Treasury Department agency that enforces economic sanctions programs against countries and groups of individuals, such as terrorists and drug traffickers.
Financial Crimes Enforcement Network (FinCEN): A bureau of the U.S. Treasury Department that collects and analyzes information about financial transactions to combat domestic and international money laundering, terrorist financing, and other financial crimes.
Nominal financial transactions: Small, usually symbolic, money transfers that are made for investigative purposes rather than for actual commerce or profit.
Pilot program: A small-scale, temporary trial of a new system or project to test its effectiveness before a full-scale rollout or permanent implementation.
Private sector firm: A business or organization that is not owned or controlled by the government, typically operating to make a profit.
License: Official permission from an authority to do something that is otherwise restricted or forbidden.

ACTION TIMELINE

14 EVENTS

JUL 22, 25

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

INTROREFERRAL

JUL 21, 25

Mr. Hill (AR) moved to suspend the rules and pass the bill.

FLOOR

JUL 21, 25

Considered under suspension of the rules. (consideration: CR H3517-3518)

FLOOR

JUL 21, 25

DEBATE - The House proceeded with forty minutes of debate on H.R. 1450.

FLOOR

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Committee Referrals

Foreign Affairs CommitteeReferred

Mar 27, 2025

house

OFAC Licensure for Investigators Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

SPONSORSHIP

ACTION TIMELINE

BILL INFO

READER REACTIONS

Discussion

OFAC Licensure for Investigators Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

DEADLINES & DATES

GLOSSARY

ACTION TIMELINE

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OFAC Licensure for Investigators Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

SPONSORSHIP

ACTION TIMELINE

BILL INFO

READER REACTIONS

Discussion

OFAC Licensure for Investigators Act

LEGISLATIVE PROGRESS

WHAT THE BILL DOES

KEY PROVISIONS

DEADLINES & DATES

GLOSSARY

ACTION TIMELINE

SPONSORS

READER REACTIONS

What do you think?

Discussion

MORE INFORMATION

Committee Referrals

Related Hearings

Various Measures