A bill to amend the Currency and Foreign Transactions Reporting Act and section 1961 (1) of title 18, United States Code, to improve enforcement, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Dec 3, 1981)
Amends the Currency and Foreign Transactions Reporting Act to increase the authorized civil and criminal penalties for violations.
Extends the current reporting requirement to include persons attempting to transport monetary instruments into or from the United States. Raises from $5,000 to $10,000 the amount transported which triggers the reporting requirement.
Revises the forfeiture provision to subject monetary instruments to seizure only if the person required to file a report knowingly fails to do so.
Authorizes a customs officer to make a warrantless search and seizure of any vehicle, vessel, aircraft, envelope, or other container based on reasonable cause that a monetary instrument is being transported for which a report is required.
Authorizes the Secretary of the Treasury to pay a reward for original information leading to a recovery of at least $50,000 by way of criminal fine, civil penalty, or forfeiture.
What just happenedDec 7, 1981
Committee on Judiciary. Jointly referred to the Subcommittee on Security and Terrorism, provided that both subcommittees shall be automatically discharged if neither has reported said bill within 90 days and if one subcommittee has reported said bill within 60 days, the other shall be automatically discharged 30 days thereafter.
Who’s behind it
- Dec 7, 1981Committee
Committee on Judiciary. Jointly referred to the Subcommittee on Security and Terrorism, provided that both subcommittees shall be automatically discharged if neither has reported said bill within 90 days and if one subcommittee has reported said bill within 60 days, the other shall be automatically discharged 30 days thereafter.
Bankruptcy and the Courts Subcommittee - Dec 7, 1981Committee
Committee on Judiciary. Jointly referred to the Subcommittee on Criminal Law, provided that both subcommittees shall be automatically discharged if neither has reported said bill within 90 days and if one subcommittee has reported said bill within 60 days, the other shall be automatically discharged 30 days thereafter.
Terrorism, Technology, and Government Information Subcommittee - Dec 3, 1981IntroReferral
Read second time and referred to Senate Committee on Judiciary.
Judiciary Committee - Dec 3, 1981IntroReferral10000
Introduced in Senate