Strengthening of Office of Intelligence and Analysis of the Department of the Treasury

(a) Improvements (1) In general Section 311 of title 31, United States Code, is amended to read as follows: 311. Office of Economic Intelligence and Security (a) Definitions In this section, the terms counterintelligence, foreign intelligence, and intelligence community have the meanings given such terms in section 3 of the National Security Act of 1947 (50 U.S.C. 3003). (b) Establishment There is established, within the Office of Terrorism and Financial Intelligence of the Department of the Treasury, the Office of Economic Intelligence and Security (in this section referred to as the Office), which, subject to the availability of appropriations, shall— (1) be responsible for the receipt, analysis, collation, and dissemination of foreign intelligence and foreign counterintelligence information relating to the operation and responsibilities of the Department of the Treasury and other Federal agencies executing economic statecraft tools that do not include any elements that are elements of the intelligence community; (2) provide intelligence support and economic analysis to Federal agencies implementing United States economic policy, including for purposes of global strategic competition; and (3) have such other related duties and authorities as may be assigned by the Secretary for purposes of the responsibilities described in paragraph (1), subject to the authority, direction, and control of the Secretary, in consultation with the Director of National Intelligence. (c) Assistant Secretary for Economic Intelligence and Security The Office shall be headed by an Assistant Secretary, who shall be appointed by the President, by and with the advice and consent of the Senate. The Assistant Secretary shall report directly to the Undersecretary for Terrorism and Financial Crimes.. (2) Clerical amendment The table of sections at the beginning of chapter 3 of such title is amended by striking the item relating to section 311 and inserting the following: Sec. 311. Office of Economic Intelligence and Security.. (3) Conforming amendment Section 3(4)(J) of the National Security Act of 1947 (50 U.S.C. 3003(4)(J)) is amended by striking Office of Intelligence and Analysis and inserting Office of Economic Intelligence and Security. (4) References Any reference in a law, regulation, document, paper, or other record of the United States to the Office of Intelligence and Analysis of the Department of the Treasury shall be deemed a reference to the Office of Economic Intelligence and Security of the Department of the Treasury. (b) Strategic plan and effective date (1) Definition of appropriate committees of Congress In this subsection, the term appropriate committees of Congress means— (A) the congressional intelligence committees; (B) the Committee on Banking, Housing, and Urban Affairs and the Committee on Appropriations of the Senate; and (C) the Committee on Financial Services and the Committee on Appropriations of the House of Representatives. (2) In general Subsection (a) shall take effect on the date that is 180 days after the date on which the Secretary of the Treasury submits to the appropriate committees of Congress a 3-year strategic plan detailing the resources required by the Department of the Treasury. (3) Contents The strategic plan submitted pursuant to paragraph (2) shall include the following: (A) Staffing and administrative expenses planned for the Department for the 3-year period beginning on the date of the submittal of the plan, including resourcing requirements for each office and division in the Department during such period. (B) Structural changes and resources, including leadership structure and staffing, required to implement subsection (a) during the period described in subparagraph (A). (c) Limitation None of the amounts appropriated or otherwise made available before the date of the enactment of this Act for the Office of Foreign Assets Control, the Financial Crimes Enforcement Network, the Office of International Affairs, the Office of Tax Policy, or the Office of Domestic Finance may be transferred or reprogrammed to support the Office of Economic Intelligence and Security established by section 311 of title 31, United States Code, as added by subsection (a).