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US HR462

US HR462
No Support for Terror Act


summary

Introduced
01/15/2025
In Committee
01/15/2025
Crossed Over
Passed
Dead

Introduced Session

119th Congress

Bill Summary

A BILL To prevent allocations of Special Drawing Rights at the International Monetary Fund for countries that are perpetrators of genocide or state sponsors of terrorism, and to prevent United States tax dollars from directly going to the Taliban or other terrorists or terrorist-harboring nations.

AI Summary

This bill, called the "No Support for Terror Act," aims to prevent countries involved in genocide or terrorism from receiving Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) and stop U.S. tax dollars from indirectly supporting terrorist organizations. Specifically, the bill requires the U.S. Treasury Secretary to instruct the U.S. Executive Director at the IMF to oppose and advocate against allocating SDRs to countries identified by the State Department as perpetrators of genocide or state sponsors of terrorism. Additionally, the bill mandates a comprehensive review by the Treasury Secretary, Secretary of State, and USAID Administrator to ensure that U.S. assistance is not being channeled to the Taliban or other terrorist organizations. Within 90 days of enactment, these officials must submit a report to Congress detailing their findings, and within 180 days, they must require all prime recipients of U.S. assistance to provide evidence that their sub-recipients are complying with U.S. anti-terrorism financing laws. The goal is to create multiple layers of oversight to prevent U.S. financial resources from supporting terrorist activities or entities.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 01/15/2025)

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