Hamas and Other Palestinian Terrorist Groups International Financing Prevention Act

What H.R. 340 does, in plain terms

Hamas and Other Palestinian Terrorist Groups International Financing Prevention Act This bill imposes sanctions targeting Hamas, Palestinian Islamic Jihad, Al-Aqsa Martyrs Brigade, the Lion's Den, and any affiliate or successor groups. The President must impose property-blocking sanctions on foreign persons that knowingly (1) provide certain types of support (such as significant financial or technological support) for acts of terrorism, or (2) engage in a significant transaction with a senior member of the targeted groups or with a senior member of a foreign terrorist organization providing support to the targeted groups. The President must also impose measures on foreign states that (1) provide significant material and financial support for acts of international terrorism, (2) provide significant material support to the targeted groups, or (3) engage in significant transactions that materially contribute to the terrorist activities of the targeted groups. The President must bar these governments for one year from receiving U.S. assistance and exports of controlled munitions and other items. The Department of the Treasury must instruct U.S. leadership of international financial institutions to oppose providing assistance to an identified government for one year. The bill provides for certain exceptions and waivers, such as for transactions that would serve vital U.S. national interests. The President must periodically report to Congress on specified topics related to the targeted groups, such as the groups' assets and activities and a list of foreign states that conduct significant fundraising, financing, or money laundering activities for the groups.

Official summary by the Congressional Research Service, via Congress.gov.