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End Financing for Hamas and State Sponsors of Terrorism Act
12/16/2024, 7:32 PM
Summary of Bill HR 6322
Bill 118 hr 6322, also known as the End Financing for Hamas and State Sponsors of Terrorism Act, is a piece of legislation introduced in the US Congress. The main goal of this bill is to cut off financial support for Hamas, a known terrorist organization, and other state sponsors of terrorism.
The bill outlines several key provisions, including the imposition of sanctions on individuals and entities that provide financial support to Hamas or other designated terrorist groups. It also calls for increased cooperation between the US government and international partners to disrupt the flow of funds to these organizations.
Additionally, the bill requires the Secretary of State to submit a report to Congress detailing the efforts being made to combat terrorist financing and the progress being made in cutting off funding to Hamas and other terrorist groups. Overall, the End Financing for Hamas and State Sponsors of Terrorism Act aims to strengthen US efforts to combat terrorism by targeting the financial networks that support these dangerous organizations.
The bill outlines several key provisions, including the imposition of sanctions on individuals and entities that provide financial support to Hamas or other designated terrorist groups. It also calls for increased cooperation between the US government and international partners to disrupt the flow of funds to these organizations.
Additionally, the bill requires the Secretary of State to submit a report to Congress detailing the efforts being made to combat terrorist financing and the progress being made in cutting off funding to Hamas and other terrorist groups. Overall, the End Financing for Hamas and State Sponsors of Terrorism Act aims to strengthen US efforts to combat terrorism by targeting the financial networks that support these dangerous organizations.
Congressional Summary of HR 6322
End Financing for Hamas and State Sponsors of Terrorism Act
This bill prohibits the Department of the Treasury from using its stabilization fund to deal in International Monetary Fund (IMF) Special Drawing Rights (SDR) from any country determined to be a state sponsor of terrorism. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Treasury must develop a strategy, in coordination with allies and partners, to ensure that Hamas is incapable of financing armed hostilities against Israel.
Treasury must report to Congress on the major sources of funding to Hamas, with an evaluation of U.S. efforts to undermine Hamas' ability to finance armed hostilities against Israel.
Read the Full Bill
Current Status of Bill HR 6322
Bill HR 6322 is currently in the status of Bill Introduced since November 9, 2023. Bill HR 6322 was introduced during Congress 118 and was introduced to the House on November 9, 2023. Bill HR 6322's most recent activity was Placed on the Union Calendar, Calendar No. 704. as of December 12, 2024
Bipartisan Support of Bill HR 6322
Total Number of Sponsors
4Democrat Sponsors
0Republican Sponsors
4Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 6322
Primary Policy Focus
International AffairsAlternate Title(s) of Bill HR 6322
End Financing for Hamas and State Sponsors of Terrorism Act
End Financing for Hamas and State Sponsors of Terrorism Act
End Financing for Hamas and State Sponsors of Terrorism Act
To evaluate and disrupt financing to Hamas, and to amend title 31, United States Code, to prohibit the exchange stabilization fund from being used to deal in Special Drawing Rights from state sponsors of terrorism, and for other purposes.
Comments
Sponsors and Cosponsors of HR 6322
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