§ 3055. Annual report on financial intelligence on terrorist assets

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1947

   Pub. L. 107–306 title III § 342(a)(1) · 116 Stat. 2383

   Enacted · 50 U.S.C. § 3055

   July 26, 1947, ch. 343, title I, § 118, as added Pub. L. 107–306, title III, § 342(a)(1), Nov. 27, 2002, 116 Stat. 2398

   Source evidence

   Code source credit
   July 26, 1947, ch. 343, title I, § 118, as added Pub. L. 107–306, title III, § 342(a)(1), Nov. 27, 2002, 116 Stat. 2398

   Enacted provision · exact public law section
   (1) In general.— Title I of the National Security Act of 1947 (50 U.S.C. 402 et seq.) is amended by adding at the end the following new section: “SEMIANNUAL REPORT ON FINANCIAL INTELLIGENCE ON TERRORIST ASSETS “SEC. 118. (a) Semiannual Report.— 50 USC 404m. On a semiannual basis, the Secretary of the Treasury (acting through the head of the Office of Intelligence Support) shall submit a report to the appropriate congressional committees that fully informs the committees concerning operations against terrorist financial networks. Each such report shall include with respect to the preceding six-month period— “(1) the total number of asset seizures, designations, and other actions against individuals or entities found to have engaged in financial support of terrorism; “(2) the total number of applications for asset seizure and designations of individuals or entities suspected of having engaged in financial support of terrorist activities that were granted, modified, or denied; “(3) the total number of physical searches of offices, residences, or financial records of individuals or entities suspected of having engaged in financial support for terrorist activity; and “(4) whether the financial intelligence information seized in these cases has been shared on a full and timely basis with the all departments, agencies, and other entities of the United States Government involved in intelligence activities participating in the Foreign Terrorist Asset Tracking Center. “(b) Immediate Notification for Emergency Designation.— In the case of a designation of an individual or entity, or the assets of an individual or entity, as having been found to have engaged in terrorist activities, the Secretary of the Treasury shall report such designation within 24 hours of such a designation to the appropriate congressional committees. “(c) Submittal Date of Reports to Congressional Intelligence Committees.— In the case of the reports required to be submitted under subsection (a) to the congressional intelligence committees, the submittal dates for such reports shall be as provided in section 507. “(d) Appropriate Congressional Committees Defined.— In this section, the term ‘appropriate congressional committees’ means the following: “(1) The Permanent Select Committee on Intelligence, the Committee on Appropriations, and the Committee on Financial Services of the House of Representatives. “(2) The Select Committee on Intelligence, the Committee on Appropriations, and the Committee on Banking, Housing, and Urban Affairs of the Senate.”.

2. 2010

   Intelligence Authorization Act for Fiscal Year 2010

   Pub. L. 111–259 § 347(d)(1) · 124 Stat. 2654

   Substituted · 50 U.S.C. § 3055

   Pub. L. 111–259, § 347(d)(1), substituted “Annual” for “Semiannual” in section catchline

   Source evidence

   Code amendment note
   Pub. L. 111–259, § 347(d)(1), substituted “Annual” for “Semiannual” in section catchline.

   Enacted provision · exact public law section
   (1) in the heading, by striking “semiannual” and inserting “annual”;

3. 2010

   Intelligence Authorization Act for Fiscal Year 2010

   Pub. L. 111–259 § 347(d)(2)(A) · 124 Stat. 2654

   1. Substituted · 50 U.S.C. § 3055(a)

      Pub. L. 111–259, § 347(d)(2)(A), (B), in heading, substituted “Annual” for “Semiannual” and, in introductory provisions

   2. Substituted · 50 U.S.C. § 3055(a)

      Pub. L. 111–259, § 347(d)(2)(A), (B), in heading, substituted “annual basis” for “semiannual basis”

   3. Substituted · 50 U.S.C. § 3055(a)

      Pub. L. 111–259, § 347(d)(2)(A), (B), in heading, substituted “preceding one-year period” for “preceding six-month period”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 111–259, § 347(d)(2)(A), (B), in heading, substituted “Annual” for “Semiannual” and, in introductory provisions, substituted “annual basis” for “semiannual basis” and “preceding one-year period” for “preceding six-month period”.

   Enacted provision · exact public law section
   (A) in the heading, by striking “Semiannual” and inserting “Annual”;

4. 2010

   Intelligence Authorization Act for Fiscal Year 2010

   Pub. L. 111–259 § 347(d)(2)(C) · 124 Stat. 2654

   1. Redesignated · 50 U.S.C. § 3055(a)(2)(4)

      Pub. L. 111–259, § 347(d)(2)(C), (D), redesignated pars. (3) and (4) as (2) and (3), respectively

   2. Struck · 50 U.S.C. § 3055(a)(2)(4)

      Pub. L. 111–259, § 347(d)(2)(C), (D), struck out former par. (2) which read as follows: “the total number of applications for asset seizure and designations of individuals or entities suspected of having engaged in financial support of terrorist activities that were granted, modified, or denied;”

   Source evidence

   Code amendment note
   Subsec. (a)(2) to (4). Pub. L. 111–259, § 347(d)(2)(C), (D), redesignated pars. (3) and (4) as (2) and (3), respectively, and struck out former par. (2) which read as follows: “the total number of applications for asset seizure and designations of individuals or entities suspected of having engaged in financial support of terrorist activities that were granted, modified, or denied;”.

   Enacted provision · exact public law section
   (C) by striking paragraph (2); and

5. 2010

   Intelligence Authorization Act for Fiscal Year 2010

   Pub. L. 111–259 § 347(d)(3) · 124 Stat. 2654

   Inserted · 50 U.S.C. § 3055(d)(1); 50 U.S.C. § 3055(d)(2)

   Pub. L. 111–259, § 347(d)(3), inserted “the Committee on Armed Services,” after “the Committee on Appropriations,”

   Source evidence

   Code amendment note
   Subsec. (d)(1), (2). Pub. L. 111–259, § 347(d)(3), inserted “the Committee on Armed Services,” after “the Committee on Appropriations,”.

   Enacted provision · exact public law section
   (3) in subsection (d)— (A) in paragraph (1), by inserting “the Committee on Armed Services,” after “the Committee on Appropriations,”; and (B) in paragraph (2), by inserting “the Committee on Armed Services,” after “the Committee on Appropriations,”.

6. 2022

   Intelligence Authorization Act for Fiscal Year 2023

   Pub. L. 117–263 div. F title LXVIII § 6824(a)(3) · 136 Stat. 2395

   Substituted · 50 U.S.C. § 3055(a)

   Pub. L. 117–263 substituted “an annual” for “a annual” in introductory provisions

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 117–263 substituted “an annual” for “a annual” in introductory provisions.

   Enacted provision · exact public law section
   (3) In section 118(a) (50 U.S.C. 3055(a)), by striking “a annual” and inserting “an annual”.

9 of 9 references resolved to an enrolled provision