Congress: 117 · Status: active · Israel/Palestine classification: pro-Israel
Data (JSON) — machine-readable record of this bill (identifiers, sponsor, classification, actions, and the member-by-member vote breakdown).
Official record on Congress.gov — full text, actions, and cosponsor history for HR 7824.
Sponsor: Lamborn, Doug (R-CO)
Taylor Force Martyr Payment Prevention Act of 2022 This bill expands the institutional factors the Department of the Treasury must consider when making a finding that a foreign financial institution is of primary money laundering concern and is therefore subject to special measures, including the prohibition of opening or maintaining correspondent accounts in U.S financial institutions. Specifically, Treasury must consider (1) the extent to which an institution knowingly provides financial services to Hamas, or to an agent of Hamas; and (2) the extent to which an institution, transaction, or type of account is used to facilitate or promote payments for certain acts of terrorism against U.S. and Israeli citizens.
This law requires the Treasury Department to impose financial sanctions on foreign banks that knowingly provide services to Hamas or that facilitate payments related to attacks on Americans and Israelis. Sanctioned banks would be barred from opening accounts or doing business with U.S. financial institutions.
The bill expands Treasury's authority to target Palestinian Authority payments to families of prisoners and militants (often called "martyr payments") by treating banks that process them as money laundering risks. It narrows the financial channels available to the PA and Palestinian entities without explicitly mentioning the PA by name.