Requires the President to impose targeted sanctions and banking restrictions on foreign persons, entities, and financial institutions that support or facilitate payments by the Palestine Liberation Organization (PLO) or the Palestinian Authority (PA) that incentivize or reward terrorism. The law also blocks or limits U.S. correspondent/payable‑through accounts for foreign banks that facilitate such transactions and stays in force until the Secretary of State certifies the PLO/PA have ended the system of payments to terrorists and their families.

Sets definitions for key terms, requires use of existing authorities (including IEEPA and blocking/visa penalties), establishes reporting and regulatory deadlines for the executive branch, and ties termination of the law to a written certification by the Secretary of State that the PLO/PA have ceased the payment system that supports terrorism.