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Congressional Daily Record
This section is about changes proposed to a bill or resolution. It mentions committees such as Committee on Foreign Relations, members such as John Thune.
Issued
June 22, 2026
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Download official Senate Record PDFReturn to issue contextSA 5891. Mr. THUNE (for Mr. Curtis (for himself and Mr. Merkley)) submitted an amendment intended to be proposed by Mr. Thune to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows:
At the end of subtitle D of title XII, add the following:
SEC. 1252. MEASURES TO ADDRESS MONEY LAUNDERING AND EXPORT
CONTROL AND SANCTIONS VIOLATIONS IN HONG KONG.
(a) Determination With Respect to Money Laundering.—Not
later than 180 days after the date of the enactment of this
Act, the Secretary of the Treasury shall submit to the
appropriate congressional committees a determination,
including a detailed justification, of whether reasonable
grounds exist for concluding that the Hong Kong Special
Administrative Region of the People's Republic of China is a
jurisdiction of primary money laundering concern under
section 5318A of title 31, United States Code.
(b) Report on Role of Hong Kong in Export Control and
Sanctions Violations.—
(1) In general.—Not later than 360 days after the date of
the enactment of this Act, the Secretary of the Treasury, in
coordination with the Secretary of State and the Secretary of
Commerce, shall submit to the appropriate congressional
committees a report assessing the ability of United States
and foreign financial institutions operating in Hong Kong to
identify and prevent transactions that facilitate the
transfer of products, technology, and money to the Russian
Federation, Iran, and other countries and entities in
violation of export controls and sanctions imposed by the
United States.
(2) Elements.—The report required by paragraph (1) shall
include—
(A) an evaluation of the extent of the role of Hong Kong as
an international financial and trading center in
facilitating, knowingly or unknowingly—
(i) the transfer of commodities, software, or technology to
adversaries of the United States, including the Russian
Federation, Iran, the mainland of the People's Republic of
China, and other countries in violation of export controls
imposed by the United States; and
(ii) trade and financial transactions that may implicate
sanctions imposed by the United States on the Russian
Federation, Iran, and other countries and entities;
(B) an assessment of whether the People's Republic of
China's 2020 National Security Law and the January 2024
Safeguarding National Security Ordinance of Hong Kong have
limited the ability of financial institutions operating in
Hong Kong to adhere to global standards for anti-money
laundering and know-your-customer procedures; and
(C) a description of cooperation between Hong Kong and
United States authorities in enforcing export control and
sanctions regimes, including any challenges to such
cooperation.
(c) Appropriate Congressional Committees Defined.—In this
section, the term “appropriate congressional committees”
means—
(1) the Committee on Foreign Relations and the Committee on
Banking, Housing, and Urban Affairs of the Senate; and
(2) the Committee on Foreign Affairs and the Committee on
Financial Services of the House of Representatives.