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United States · Bill · S

S. 571 (99th)

Drug Money Seizure Act

openUnited States· United States Congress· EN

Introduced

5 March 1985

Last action

1 May 1986 · Committee

Status

Committee on Banking. Hearings held.

Sponsors

Sen. D'Amato, Alfonse [R-NY], Sen. Hawkins, Paula [R-FL], Sen. Rudman, Warren [R-NH], Sen. Proxmire, William [D-WI], Sen. Abdnor, James [R-SD], Sen. Trible, Paul S., Jr. [R-VA], Sen. Riegle, Donald W., Jr. [D-MI], Sen. Wilson, Pete [R-CA], Sen. Heinz, John [R-PA], Sen. Cochran, Thad [R-MS], Sen. Mattingly, Mack [R-GA], Sen. Hatch, Orrin G. [R-UT], Sen. Stevens, Ted [R-AK]

Subjects

Discovery layer

Source updated

29 August 2025

Official sourceView documentsShare

Summary

Drug Money Seizure Act - Amends the Currency and Foreign Transactions Reporting Act to authorize the Secretary of the Treasury, in order to investigate the compliance of financial institutions with recordkeeping and reporting requirements with respect to monetary instruments transactions, to: (1) examine the books, papers, and records of such institutions; and (2) summon and take testimony from an institution officer or employee or other person possessing relevant reports or records. Increases the civil penalty for violations of such Act to: (1) the full amount of the transaction where the violation involves a transaction reporting requirement; or (2) $10,000 for any other violation. Creates a civil penalty of up to the amount of the transaction or account involved for any violation of a reporting or recordkeeping requirement for a transaction with a foreign financial agency.

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

Timeline

  1. 28 January 1985

    Committee

    Committee on Banking. Hearings held prior to introduction and/or referral. Hearings printed: S.Hrg. 99-8 Hearing held in New York, N.Y.

    Source: Committee

  2. 5 March 1985

    Introduced

    Read twice and referred to the Committee on Banking.

    Source: IntroReferral

  3. 5 March 1985

    Introduced

    Introduced in Senate

    Source: IntroReferral

  4. 1 May 1986

    Committee

    Committee on Banking. Hearings held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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