Terrorist Subsidy Prevention Act

Summary

Terrorist Subsidy Prevention Act - Amends the Export Administration Act of 1979 to declare it is U.S. policy to use export controls to restrict the export of: (1) capital, the extension of credit, or the transfer of financial resources to destinations or persons abroad in order to combat terrorism and promote U.S. security; and (2) goods and technology where such export will likely support terrorism against U.S. citizens, will benefit terrorists, or will benefit countries supporting international terrorism. Authorizes the President to restrict the export or transfer of money or other financial assets to the government of a country designated as a country supporting international terrorism. Authorizes the President to restrict the export or transfer of goods and technology if such export will likely support terrorism against U.S. citizens, will benefit terrorists, or will benefit countries supporting international terrorism. Provides for negotiations with other countries to obtain their cooperation with such export controls on capital, goods, and technology. Requires export license applications for the export of capital to be submitted to the Secretary of the Treasury, who shall make all determinations with respect to such application. Requires the annual report on the administration of the Export Administration Act of 1979 to include a report on actions taken to carry out export controls on capital.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 June 1986

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 26 June 1986

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 26 June 1986

  Open at official source

Sponsors

• Sen. Mattingly, Mack [R-GA] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• · ssbk00 · Standing

Related records

No cross-record relationships stored yet.