Sec. 4. Reports to Congress
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Not later than the end of the 6-month period beginning on the date of the enactment of this Act, the Comptroller General of the United States shall initiate a study on how the Office of Foreign Assets Control of the Department of the Treasury can better track frozen assets, manage data relating to such frozen assets, and improve reporting to Congress regarding frozen assets across all sanctions programs administered by the Office of Foreign Assets Control. Upon the completion of the study required under paragraph (1), the Comptroller General shall issue a report to the Congress and the Office of Foreign Assets Control of the Department of the Treasury containing— all findings and determinations made in carrying out the study required under paragraph (1); and such recommendations that the Comptroller General may determine appropriate.
The Secretary of the Treasury, in consultation with the Attorney General, the Secretary of State, and the heads of other appropriate Federal agencies, shall issue an annual report to the Congress containing— comprehensive and detailed data regarding frozen assets across all sanctions programs administered by the Office of Foreign Assets Control, including, with respect to each sanctions program for the prior calendar year— tables that show changes in frozen assets totals; the total amount of frozen assets; the total amount of frozen assets that were unblocked; how many licenses were issued; how many names were added to each list of sanctioned persons; and how many names were removed from each list of sanctioned persons; and a detailed justification for each removal of a name from a list of sanctioned persons under each sanctions program for the prior calendar year.
A report issued under paragraph
(1)may contain a classified annex when necessary. Before issuing a report under paragraph (1), the Secretary of the Treasury shall review any recommendations made by the Comptroller General in the report issued under subsection (a)(2) and include in such report any plans for addressing such recommendations. In this section, the term frozen asset has the meaning given that term in section 2(d) of this Act.