Sec. 102. Modification of report with respect to financial institutions that engage in certain transactions
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Section 102(d) of the Hizballah International Financing Prevention Act of 2015 ( Public Law 114–102 ; 50 U.S.C. 1701 note) is amended to read as follows: Not later than 180 days after the date of the enactment of the Hizballah International Financing Prevention Amendments Act of 2018, and every 2 years thereafter for a period not to exceed 4 years, the President shall submit to the appropriate congressional committees a report that— identifies each foreign financial institution described in paragraph
(2)that the President determines engages in one or more activities described in subsection (a)(2); and provides a detailed description of each such activity. A foreign financial institution described in this paragraph is a foreign financial institution— that, wherever located, is— organized under the laws of a state sponsor of terrorism or any jurisdiction within a state sponsor of terrorism; owned or controlled by the government of a state sponsor of terrorism; located in the territory of a state sponsor of terrorism; or owned or controlled by a foreign financial institution described in subclause (I), (II), or (III); and the capitalization of which exceeds $10,000,000. In this paragraph, the term state sponsor of terrorism means a country the government of which the Secretary of State has determined is a government that has repeatedly provided support for acts of international terrorism for purposes of— section 1754(c) of the Export Control Reform Act of 2018; section 620A of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2371 ); section 40 of the Arms Export Control Act ( 22 U.S.C. 2780 ); or any other provision of law. .
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Sec. 102
Modification of report with respect to financial institutions that engage in certain transactions
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