National Risk Assessments Extension Act
- Sponsor
- Rep. Gonzalez, Vicente [D-TX-34]
- Committees
- Financial Services Committee (primary)
- Last action
- Sep 15, 2026
Bottom line
The bill extends reporting deadlines for national strategies on combating illicit finance and updates the specific risk assessment documents to be referenced in those strategies.
What it actually does
This bill amends the Countering Russian Influence in Europe and Eurasia Act of 2017 to extend the deadlines for the President to submit national strategies for combating terrorist and other illicit financing from 2024 and 2026 to 2028 and 2030, respectively. Additionally, it updates the specific documents that these strategies must reference, shifting from older national strategy documents to more recent and specific risk assessments concerning money laundering, terrorist financing, and proliferation financing.
Section 1
Short Title
This section establishes the official short title of the Act as the "National Risk Assessments Extension Act." This title provides a concise and easily referenceable name for the legislation, aiding in its identification and discussion within legislative and public discourse.
Section 2(1)
Extension of Deadlines for National Strategy Submission
This provision amends section 261(b)(2) of the Countering Russian Influence in Europe and Eurasia Act of 2017. It changes the required submission years for the national strategy for combating terrorist and other illicit financing from "2024" to "2028" and from "2026" to "2030." This effectively grants the President and relevant Executive Branch agencies an additional four years to submit these mandated strategies to Congress.
Section 2(2)
Update to Referenced National Strategy Documents
This section amends section 262(1) of the Countering Russian Influence in Europe and Eurasia Act of 2017. It replaces references to the "2020 National Strategy for Combating Terrorist and Other Illicit Financing" and "2022 National Strategy for Combating Terrorist and Other Illicit Financing" with references to the "2026 National Money Laundering Risk Assessment," "2026 National Terrorist Financing Risk Assessment," and "2026 National Proliferation Financing Risk Assessment." This updates the foundational documents that the national strategy for combating illicit finance must consider, shifting focus to more current and specific risk assessments.
This provision changes the specific documents that the President's national strategy for combating illicit finance must reference. Instead of referencing the "2020 National Strategy for Combating Terrorist and Other Illicit Financing" and "2022 National Strategy for Combating Terrorist and Other Illicit Financing," it requires referencing the "2026 National Money Laundering Risk Assessment," "2026 National Terrorist Financing Risk Assessment," and "2026 National Proliferation Financing Risk Assessment."
Section 2(2)
Why it matters:This is standard legislative practice for updating references to current official documents. It's a technical update to ensure strategies are based on the most recent data and assessments, rather than an attempt to hide a controversial policy.
Case for: Supporters would argue that this update ensures the national strategy is informed by the most current and granular risk assessments, reflecting an evolving understanding of illicit finance threats. It allows for a more targeted and data-driven approach to combating money laundering, terrorist financing, and proliferation financing.
Case against: Critics might contend that replacing comprehensive "national strategies" with more specific "risk assessments" could potentially narrow the scope of the President's overall strategy, focusing too much on risk identification rather than broader strategic policy development and implementation.
Estimated impact: This change refines the analytical foundation for future national strategies on illicit finance, potentially leading to more focused policy recommendations and resource allocation within the Executive Branch.