Congressional Budget Office Cost Estimate: H.R. 3329, Hizballah International Financing Prevention Amendments Act of 2017   [open pdf - 88KB]

"H.R. 3329 would expand federal sanctions and reporting requirements related to illicit interactions with Hizballah, a foreign terrorist organization based in Lebanon. It would direct the President to identify and impose sanctions on foreign people and entities engaged in fundraising and recruitment activities for Hizballah. The bill also would require the President to apply the sanctions in Executive Order 13581 to affiliated networks of Hizballah. That executive order blocked the U.S. held assets of certain criminal organizations from being transferred, paid, exported, or withdrawn. Finally, federal agencies would be required to develop policies and prepare multiple reports related to Hizballah, including reports on certain diplomatic matters as well as on illicit transactions with foreign financial institutions, cooperation with foreign governments, racketeering, and trafficking in tobacco. Based on an analysis of information from the Administration and the costs of similar activities, CBO [Congressional Budget Office] estimates that administering the sanctions and implementing the reporting requirements would cost about $1 million over the 2018-2022 period, subject to the availability of appropriated funds."

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