50 U.S.C. § 1703 — Consultation and reports

Page 226 TITLE 50—WAR AND NATIONAL DEFENSE § 1703 ‘‘(2) The amendments made by paragraph (1) to sec- tion 203(b)(3) of the International Emergency Economic Powers Act [50 U.S.C. 1702(b)(3)] apply to actions taken by the President under section 203 of such Act before the date of enactment of this Act [Apr. 30, 1994] which are in effect on such date and to actions taken under such section on or after such date. ‘‘(3) Section 203(b)(4) of the International Emergency Economic Powers Act (as added by paragraph (1)) shall not apply to restrictions on the transactions and ac- tivities described in section 203(b)(4) in force on the date of enactment of this Act, with respect to countries embargoed under the International Emergency Eco- nomic Powers Act [50 U.S.C. 1701 et seq.] on the date of enactment of this Act.’’ EFFECTIVE DATE OF 1988 AMENDMENT Pub. L. 100–418, title II, § 2502(b)(2), Aug. 23, 1988, 102 Stat. 1372, provided that: ‘‘The amendments made by paragraph (1) [amending this section] apply to actions taken by the President under section 203 of the Inter- national Emergency Economic Powers Act [this sec- tion] before the date of the enactment of this Act [Aug. 23, 1988] which are in effect on such date of enactment, and to actions taken under such section on or after such date of enactment.’’ Executive Documents EX. ORD. NO. 13290. CONFISCATING AND VESTING CERTAIN IRAQI PROPERTY Ex. Ord. No. 13290, Mar. 20, 2003, 68 F.R. 14307, as amended by Ex. Ord. No. 13350, § 3, July 29, 2004, 69 F.R. 46055, provided: By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Eco- nomic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), and section 301 of title 3, United States Code, and in order to take additional steps with respect to the national emergency declared in Executive Order 13303 of March 20 [May 22], 2003 [listed in a table under section 1701 of this title], and expanded in Executive Order 13315 of Au- gust 28, 2003 [listed in a table under section 1701 of this title], I, GEORGE W. BUSH, President of the United States of America, hereby determine that the United States and Iraq are engaged in armed hostilities, that it is in the interest of the United States to confiscate certain property of the Government of Iraq and its agencies, in- strumentalities, or controlled entities, and that all right, title, and interest in any property so confiscated should vest in the Department of the Treasury. I intend that such vested property should be used to assist the Iraqi people and to assist in the reconstruction of Iraq, and determine that such use would be in the interest of and for the benefit of the United States. I hereby order: SECTION 1. All blocked funds held in the United States in accounts in the name of the Government of Iraq, the Central Bank of Iraq, Rafidain Bank, Rasheed Bank, or the State Organization for Marketing Oil are hereby confiscated and vested in the Department of the Treas- ury, except for the following: (a) any such funds that are subject to the Vienna Convention on Diplomatic Relations or the Vienna Convention on Consular Relations, or that enjoy equiv- alent privileges and immunities under the laws of the United States, and are or have been used for diplomatic or consular purposes, and (b) any such amounts that as of the date of this order are subject to post-judgment writs of execution or at- tachment in aid of execution of judgments pursuant to section 201 of the Terrorism Risk Insurance Act of 2002 (Public Law 107–297) [see Tables for classification], pro- vided that, upon satisfaction of the judgments on which such writs are based, any remainder of such excepted amounts shall, by virtue of this order and without fur- ther action, be confiscated and vested. SEC. 2. The Secretary of the Treasury is authorized to perform, without further approval, ratification, or other action of the President, all functions of the Presi- dent set forth in section 203(a)(1)(C) of IEEPA [50 U.S.C. 1702(a)(1)(C)] with respect to any and all property of the Government of Iraq, including its agencies, instrumen- talities, or controlled entities, and to take additional steps, including the promulgation of rules and regula- tions as may be necessary, to carry out the purposes of this order. The Secretary of the Treasury may redele- gate such functions in accordance with applicable law. The Secretary of the Treasury shall consult the Attor- ney General as appropriate in the implementation of this order. SEC. 3. This order shall be transmitted to the Con- gress and published in the Federal Register. GEORGE W. BUSH. § 1703. Consultation and reports (a) Consultation with Congress The President, in every possible instance, shall consult with the Congress before exer- cising any of the authorities granted by this chapter and shall consult regularly with the Congress so long as such authorities are exer- cised. (b) Report to Congress upon exercise of Presi- dential authorities Whenever the President exercises any of the authorities granted by this chapter, he shall im- mediately transmit to the Congress a report specifying— (1) the circumstances which necessitate such exercise of authority; (2) why the President believes those cir- cumstances constitute an unusual and ex- traordinary threat, which has its source in whole or substantial part outside the United States, to the national security, foreign pol- icy, or economy of the United States; (3) the authorities to be exercised and the actions to be taken in the exercise of those au- thorities to deal with those circumstances; (4) why the President believes such actions are necessary to deal with those cir- cumstances; and (5) any foreign countries with respect to which such actions are to be taken and why such actions are to be taken with respect to those countries. (c) Periodic follow-up reports At least once during each succeeding six- month period after transmitting a report pursu- ant to subsection (b) with respect to an exercise of authorities under this chapter, the President shall report to the Congress with respect to the actions taken, since the last such report, in the exercise of such authorities, and with respect to any changes which have occurred concerning any information previously furnished pursuant to paragraphs (1) through (5) of subsection (b). (d) Supplemental requirements The requirements of this section are supple- mental to those contained in title IV of the Na- tional Emergencies Act [50 U.S.C. 1641]. (Pub. L. 95–223, title II, § 204, Dec. 28, 1977, 91 Stat. 1627.) Page 227 TITLE 50—WAR AND NATIONAL DEFENSE § 1706 Editorial Notes REFERENCES IN TEXT The National Emergencies Act, referred to in subsec. (d), is Pub. L. 94–412, Sept. 14, 1976, 90 Stat. 1255. Title IV of the National Emergencies Act enacted subchapter IV (§ 1641) of chapter 34 of this title. For complete clas- sification of this Act to the Code, see Short Title note set out under section 1601 of this title and Tables. § 1704. Authority to issue regulations The President may issue such regulations, in- cluding regulations prescribing definitions, as may be necessary for the exercise of the authori- ties granted by this chapter. (Pub. L. 95–223, title II, § 205, Dec. 28, 1977, 91 Stat. 1628.) § 1705. Penalties (a) Unlawful acts It shall be unlawful for a person to violate, at- tempt to violate, conspire to violate, or cause a violation of any license, order, regulation, or prohibition issued under this chapter. (b) Civil penalty A civil penalty may be imposed on any person who commits an unlawful act described in sub- section (a) in an amount not to exceed the greater of— (1) $250,000; or (2) an amount that is twice the amount of the transaction that is the basis of the viola- tion with respect to which the penalty is im- posed. (c) Criminal penalty A person who willfully commits, willfully at- tempts to commit, or willfully conspires to com- mit, or aids or abets in the commission of, an unlawful act described in subsection (a) shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be impris- oned for not more than 20 years, or both. (d) Statute of limitations (1) Time for commencing proceedings (A) In general An action, suit, or proceeding for the en- forcement of any civil fine, penalty, or for- feiture, pecuniary or otherwise, under this section shall not be entertained unless com- menced within 10 years after the latest date of the violation upon which the civil fine, penalty, or forfeiture is based. (B) Commencement For purposes of this paragraph, the com- mencement of an action, suit, or proceeding includes the issuance of a pre-penalty notice or finding of violation. (2) Time for indictment No person shall be prosecuted, tried, or pun- ished for any offense under subsection (c) un- less the indictment is found or the informa- tion is instituted within 10 years after the lat- est date of the violation upon which the in- dictment or information is based. (Pub. L. 95–223, title II, § 206, Dec. 28, 1977, 91 Stat. 1628; Pub. L. 102–393, title VI, § 629, Oct. 6, 1992, 106 Stat. 1773; Pub. L. 102–396, title IX, § 9155, Oct. 6, 1992, 106 Stat. 1943; Pub. L. 104–201, div. A, title XIV, § 1422, Sept. 23, 1996, 110 Stat. 2725; Pub. L. 109–177, title IV, § 402, Mar. 9, 2006, 120 Stat. 243; Pub. L. 110–96, § 2(a), Oct. 16, 2007, 121 Stat. 1011; Pub. L. 118–50, div. E, title I, § 3111(a), Apr. 24, 2024, 138 Stat. 938.) Editorial Notes AMENDMENTS 2024—Subsec. (d). Pub. L. 118–50 added subsec. (d). 2007—Pub. L. 110–96 amended section generally. Prior to amendment, text of section read as follows: ‘‘(a) A civil penalty of not to exceed $50,000 may be imposed on any person who violates, or attempts to violate, any license, order, or regulation issued under this chapter. ‘‘(b) Whoever willfully violates, or willfully attempts to violate, any license, order, or regulation issued under this chapter shall, upon conviction, be fined not more than $50,000, or, if a natural person, may be im- prisoned for not more than twenty years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be pun- ished by a like fine, imprisonment, or both.’’ 2006—Subsec. (a). Pub. L. 109–177, § 402(1), substituted ‘‘$50,000’’ for ‘‘$10,000’’. Subsec. (b). Pub. L. 109–177, § 402(2), substituted ‘‘twenty years’’ for ‘‘ten years’’. 1996—Subsec. (a). Pub. L. 104–201, § 1422(1), inserted ‘‘, or attempts to violate,’’ after ‘‘violates’’. Subsec. (b). Pub. L. 104–201, § 1422(2), inserted ‘‘, or willfully attempts to violate,’’ after ‘‘violates’’. 1992—Subsec. (a). Pub. L. 102–396 substituted ‘‘$10,000’’ for ‘‘$50,000’’. Pub. L. 102–393 substituted ‘‘$50,000’’ for ‘‘$10,000’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2007 AMENDMENT Pub. L. 110–96, § 2(b), Oct. 16, 2007, 121 Stat. 1011, pro- vided that: ‘‘(1) CIVIL PENALTIES.—Section 206(b) of the Inter- national Emergency Economic Powers Act [50 U.S.C. 1705(b)], as amended by subsection (a), shall apply to violations described in section 206(a) of such Act with respect to which enforcement action is pending or com- menced on or after the date of the enactment of this Act [Oct. 16, 2007]. ‘‘(2) CRIMINAL PENALTIES.—Section 206(c) of the Inter- national Emergency Economic Powers Act, as amended by subsection (a), shall apply to violations described in section 206(a) of such Act with respect to which en- forcement action is commenced on or after the date of the enactment of this Act.’’ § 1706. Savings provisions (a) Termination of national emergencies pursu- ant to National Emergencies Act (1) Except as provided in subsection (b), not- withstanding the termination pursuant to the National Emergencies Act [50 U.S.C. 1601 et seq.] of a national emergency declared for purposes of this chapter, any authorities granted by this chapter, which are exercised on the date of such termination on the basis of such national emer- gency to prohibit transactions involving prop- erty in which a foreign country or national thereof has any interest, may continue to be so exercised to prohibit transactions involving that property if the President determines that the continuation of such prohibition with respect to that property is necessary on account of claims involving such country or its nationals.