Congress: 118 · 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 1408.
Sponsor: Lamborn, Doug (R-CO)
Taylor Force Martyr Payment Prevention Act of 2023 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 bill requires the Treasury Department to consider whether foreign banks knowingly provide financial services to Hamas when deciding whether to cut those banks off from the U.S. financial system. It also directs Treasury to examine whether banks facilitate payments related to terrorist acts targeting U.S. or Israeli citizens.
The bill creates a new legal basis for Treasury to sanction foreign financial institutions that support Hamas or terror-related payments. This could restrict Palestinian Authority budget flows and humanitarian funding if institutions are deemed complicit, making it a key flashpoint in debates over U.S. leverage on Palestinian governance and international financial access.