Legis Daily

Otto Warmbier North Korea Nuclear Sanctions Act

USA115th CongressHR-3898| House 
| Updated: 10/25/2017
Andy Barr

Andy Barr

Republican Representative

Kentucky

Cosponsors (18)
Mia B. Love (Republican)Robert Pittenger (Republican)Warren Davidson (Republican)Carolyn B. Maloney (Democratic)Juan Vargas (Democratic)Bruce Poliquin (Republican)Keith J. Rothfus (Republican)J. French Hill (Republican)Luke Messer (Republican)Kyrsten Sinema (Independent)Roger Williams (Republican)Trey Hollingsworth (Republican)Brad Sherman (Democratic)Denny Heck (Democratic)Josh Gottheimer (Democratic)Ed Perlmutter (Democratic)Gwen Moore (Democratic)John K. Delaney (Democratic)

Foreign Relations Committee, Financial Services Committee, Financial Institutions and Monetary Policy Subcommittee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Otto Warmbier North Korea Nuclear Sanctions Act (Sec. 3) This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, any North Korean person employed outside North Korea (unless waived by Treasury), and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations. Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations. (Sec. 4) The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken. The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person. (Sec. 5) Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance. The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance. (Sec. 6) The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.

Bill Text Versions

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Timeline
Sep 13, 2017
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.
Oct 2, 2017
Introduced in House
Oct 2, 2017
Referred to the House Committee on Financial Services.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 23, 2017
Placed on the Union Calendar, Calendar No. 265.
Oct 23, 2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361.
Oct 24, 2017
Mr. Barr moved to suspend the rules and pass the bill, as amended.
Oct 24, 2017
Considered under suspension of the rules. (consideration: CR H8099-8104)
Oct 24, 2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 3898.
Oct 24, 2017
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Oct 24, 2017
Considered as unfinished business. (consideration: CR H8129-8130)
Oct 24, 2017
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100)
View Vote
Oct 24, 2017
Motion to reconsider laid on the table Agreed to without objection.
Oct 24, 2017
The title of the measure was amended. Agreed to without objection.
Oct 25, 2017
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
  • September 13, 2017
    Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.


  • October 2, 2017
    Introduced in House


  • October 2, 2017
    Referred to the House Committee on Financial Services.


  • October 11, 2017
    Committee Consideration and Mark-up Session Held.


  • October 12, 2017
    Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.


  • October 12, 2017
    Committee Consideration and Mark-up Session Held.


  • October 23, 2017
    Placed on the Union Calendar, Calendar No. 265.


  • October 23, 2017
    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361.


  • October 24, 2017
    Mr. Barr moved to suspend the rules and pass the bill, as amended.


  • October 24, 2017
    Considered under suspension of the rules. (consideration: CR H8099-8104)


  • October 24, 2017
    DEBATE - The House proceeded with forty minutes of debate on H.R. 3898.


  • October 24, 2017
    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.


  • October 24, 2017
    Considered as unfinished business. (consideration: CR H8129-8130)


  • October 24, 2017
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100)
    View Vote


  • October 24, 2017
    Motion to reconsider laid on the table Agreed to without objection.


  • October 24, 2017
    The title of the measure was amended. Agreed to without objection.


  • October 25, 2017
    Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Finance and Financial Sector

Administrative law and regulatory proceduresArms control and nonproliferationAsiaBank accounts, deposits, capitalCivil actions and liabilityCompetitiveness, trade promotion, trade deficitsCongressional oversightDepartment of the TreasuryFinancial services and investmentsForeign and international bankingForeign loans and debtFraud offenses and financial crimesGovernment information and archivesGovernment lending and loan guaranteesInternational organizations and cooperationMultilateral development programsNorth KoreaNuclear weaponsSanctions

Otto Warmbier North Korea Nuclear Sanctions Act

USA115th CongressHR-3898| House 
| Updated: 10/25/2017
Otto Warmbier North Korea Nuclear Sanctions Act (Sec. 3) This bill directs the Department of the Treasury to prohibit a foreign financial institution that knowingly provides significant financial services to a "covered person" from opening or maintaining a correspondent account in the United States. "Covered person" includes any person doing business with North Korea, any North Korean person employed outside North Korea (unless waived by Treasury), and any person that knowingly employs a North Korean person outside North Korea. The bill establishes civil and criminal penalties for violations. Treasury must prohibit a U.S.-based financial institution from knowingly engaging in a significant transaction with a covered person. The bill establishes civil penalties for violations. (Sec. 4) The bill amends the Bretton Woods Agreements Act to direct the United States to oppose international financial assistance for a foreign government that does not implement these sanctions against North Korea. The President may waive this directive after specified steps are taken. The bill amends the Export-Import Bank Act to prohibit the bank from providing support to a covered person. (Sec. 5) Treasury must report on compliance with this bill among financial institutions, including any penalties imposed and efforts by Treasury to support compliance. The bill amends the International Financial Institutions Act to require Treasury to: (1) instruct the U.S. Executive Director at the International Monetary Fund (IMF) to support the use of the IMF's administrative budget for technical assistance that strengthens the capacity of IMF members to prevent money laundering and the financing of terrorism, and (2) report on the effectiveness of such assistance. (Sec. 6) The President may suspend or terminate sanctions under this bill if certain steps regarding nonproliferation of weapons of mass destruction are taken by North Korea.

Bill Text Versions

View Text
4 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 13, 2017
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.
Oct 2, 2017
Introduced in House
Oct 2, 2017
Referred to the House Committee on Financial Services.
Oct 11, 2017
Committee Consideration and Mark-up Session Held.
Oct 12, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.
Oct 12, 2017
Committee Consideration and Mark-up Session Held.
Oct 23, 2017
Placed on the Union Calendar, Calendar No. 265.
Oct 23, 2017
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361.
Oct 24, 2017
Mr. Barr moved to suspend the rules and pass the bill, as amended.
Oct 24, 2017
Considered under suspension of the rules. (consideration: CR H8099-8104)
Oct 24, 2017
DEBATE - The House proceeded with forty minutes of debate on H.R. 3898.
Oct 24, 2017
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Oct 24, 2017
Considered as unfinished business. (consideration: CR H8129-8130)
Oct 24, 2017
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100)
View Vote
Oct 24, 2017
Motion to reconsider laid on the table Agreed to without objection.
Oct 24, 2017
The title of the measure was amended. Agreed to without objection.
Oct 25, 2017
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
  • September 13, 2017
    Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.


  • October 2, 2017
    Introduced in House


  • October 2, 2017
    Referred to the House Committee on Financial Services.


  • October 11, 2017
    Committee Consideration and Mark-up Session Held.


  • October 12, 2017
    Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 0.


  • October 12, 2017
    Committee Consideration and Mark-up Session Held.


  • October 23, 2017
    Placed on the Union Calendar, Calendar No. 265.


  • October 23, 2017
    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-361.


  • October 24, 2017
    Mr. Barr moved to suspend the rules and pass the bill, as amended.


  • October 24, 2017
    Considered under suspension of the rules. (consideration: CR H8099-8104)


  • October 24, 2017
    DEBATE - The House proceeded with forty minutes of debate on H.R. 3898.


  • October 24, 2017
    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.


  • October 24, 2017
    Considered as unfinished business. (consideration: CR H8129-8130)


  • October 24, 2017
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 415 - 2 (Roll no. 581). (text: CR H8099-8100)
    View Vote


  • October 24, 2017
    Motion to reconsider laid on the table Agreed to without objection.


  • October 24, 2017
    The title of the measure was amended. Agreed to without objection.


  • October 25, 2017
    Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
Andy Barr

Andy Barr

Republican Representative

Kentucky

Cosponsors (18)
Mia B. Love (Republican)Robert Pittenger (Republican)Warren Davidson (Republican)Carolyn B. Maloney (Democratic)Juan Vargas (Democratic)Bruce Poliquin (Republican)Keith J. Rothfus (Republican)J. French Hill (Republican)Luke Messer (Republican)Kyrsten Sinema (Independent)Roger Williams (Republican)Trey Hollingsworth (Republican)Brad Sherman (Democratic)Denny Heck (Democratic)Josh Gottheimer (Democratic)Ed Perlmutter (Democratic)Gwen Moore (Democratic)John K. Delaney (Democratic)

Foreign Relations Committee, Financial Services Committee, Financial Institutions and Monetary Policy Subcommittee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresArms control and nonproliferationAsiaBank accounts, deposits, capitalCivil actions and liabilityCompetitiveness, trade promotion, trade deficitsCongressional oversightDepartment of the TreasuryFinancial services and investmentsForeign and international bankingForeign loans and debtFraud offenses and financial crimesGovernment information and archivesGovernment lending and loan guaranteesInternational organizations and cooperationMultilateral development programsNorth KoreaNuclear weaponsSanctions