Preventing the Financing of Illegal Synthetic Drugs Act
Latest action (13 Sep 2024): Became Public Law No: 118-79.
What this bill does
This bill directs the Government Accountability Office (GAO) to conduct a study on how illegal synthetic drugs are financed. The study will examine the trafficking of drugs like fentanyl and methamphetamine, and related substances. It will look into how criminal organizations use business models, online markets, and social media to move and sell these drugs, and how they handle payments and launder money. The study will also investigate how human trafficking might overlap with synthetic drug trafficking and analyze current U.S. government efforts to combat these financial activities.
The bill affects the GAO, which will be responsible for carrying out the study and reporting its findings. It also indirectly affects entities and individuals involved in the trafficking of synthetic drugs, as well as government agencies involved in combating drug trafficking and financial crimes. The study will provide information that could inform future policy decisions related to drug trafficking and financial regulation.
The bill, H.R. 1076, has been enacted and signed into law by the President. The next step is for the GAO to complete the study and submit a report to Congress within one year of the law's enactment.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Preventing the Financing of Illegal Synthetic Drugs Act
This bill requires the Government Accountability Office to carry out a study on illicit financing in connection with the trafficking of synthetic drugs, including fentanyl and methamphetamine, fentanyl- and methamphetamine-related substances, Captagon, and fentanyl and methamphetamine precursors, and to report to Congress.
Timeline
13 Sep 2024
Became Public Law No: 118-79.
Common questions
- What does H.R. 1076 do?
- This bill directs the Government Accountability Office (GAO) to conduct a study on how illegal synthetic drugs are financed. The study will examine the trafficking of drugs like fentanyl and methamphetamine, and related substances. It will look into how criminal organizations use business models, online markets, and social media to move and sell these drugs, and how they handle payments and launder money. The study will also investigate how human trafficking might overlap with synthetic drug trafficking and analyze current U.S. government efforts to combat these financial activities. The bill affects the GAO, which will be responsible for carrying out the study and reporting its findings. It also indirectly affects entities and individuals involved in the trafficking of synthetic drugs, as well as government agencies involved in combating drug trafficking and financial crimes. The study will provide information that could inform future policy decisions related to drug trafficking and financial regulation. The bill, H.R. 1076, has been enacted and signed into law by the President. The next step is for the GAO to complete the study and submit a report to Congress within one year of the law's enactment.
- Has H.R. 1076 become law?
- Yes. H.R. 1076 has been enacted. Status last updated 13 Sep 2024.
- Who sponsored H.R. 1076?
- H.R. 1076 was sponsored by Rep. De La Cruz, Monica [R-TX-15] (R-TX), with 8 cosponsors.
- What's the latest action on H.R. 1076?
- Became Public Law No: 118-79. (13 Sep 2024).
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