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US·Bill·115th Congress

HR 3898

Died after passing a chamber

Otto Warmbier North Korea Nuclear Sanctions Act

Introduced 2017-10-02Last action 2017-10-25 — Received in the Senate and Read twice and referred to the Committee on Foreign Relations.Committees House Committee on Financial Services, Senate Committee on Foreign Relations

Sponsor

Rep. Barr, Andy [R-KY-6]R

Cosponsors (18)

Davidson, Warren(R-OH)Delaney, John(D-MD)Gottheimer, Josh(D-NJ)Heck, Denny(D-WA)Hill, J. French(R-AR)Hollingsworth, Trey(R-IN)Love, Mia(R-UT)MALONEY, CAROLYN(D-NY)Messer, Luke(R-IN)Moore, Gwen(D-WI)Perlmutter, Ed(D-CO)Pittenger, Robert(R-NC)Poliquin, Bruce(R-ME)Rothfus, Keith(R-PA)Sherman, Brad(D-CA)Sinema, Kyrsten(D-AZ)Vargas, Juan(D-CA)Williams, Roger(R-TX)

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Died after passing a chamber

The 115th Congress ended on 2019-01-03. This bill was passed one chamber when the session adjourned and did not advance to enactment.

Legislative Progress

✓

Introduced

✓

In Committee

✗

Passed Chamber

4

Enacted / Signed

Action History

Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.

2017-09-13 · House committee actions

Referred to the House Committee on Financial Services.

2017-10-02 · House floor actions

Introduced in House

2017-10-02 · Library of Congress

Committee Consideration and Mark-up Session Held.

2017-10-11 · House committee actions

Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.

2017-10-12 · House committee actions

Committee Consideration and Mark-up Session Held.

2017-10-12 · House committee actions

Placed on the Union Calendar, Calendar No. 265.

2017-10-23 · House floor actions

Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361.

2017-10-23 · House floor actions

The title of the measure was amended. Agreed to without objection.

2017-10-24 · House floor actions

Motion to reconsider laid on the table Agreed to without objection.

2017-10-24 · House floor actions

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100)

2017-10-24 · House floor actions

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581).(text: CR H8099-8100)

2017-10-24 · Library of Congress

Considered as unfinished business. (consideration: CR H8129-8130)

2017-10-24 · House floor actions

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

2017-10-24 · House floor actions

DEBATE - The House proceeded with forty minutes of debate on H.R. 3898.

2017-10-24 · House floor actions

Considered under suspension of the rules. (consideration: CR H8099-8104)

2017-10-24 · House floor actions

Mr. Barr moved to suspend the rules and pass the bill, as amended.

2017-10-24 · House floor actions

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

2017-10-25 · Senate

Summary

Otto Warmbier North Korea Nuclear Sanctions Act

(Sec. 3) This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, any North Korean person employed outside North Korea (unless waived by Treasury), and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations.

Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations.

(Sec. 4) The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken.

The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person.

(Sec. 5) Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance.

The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance.

(Sec. 6) The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.

Full Bill Text

https://www.congress.gov/bill/115th-congress/hr/3898

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