The bill establishes an Off-Shore Banking Zone and International Financial Center Task Force to assess the potential benefits and risks of creating offshore banking zones in the United States. The task force will study the impact on economic development, job creation, and financial stability. It aims to provide recommendations for legislation that could establish these zones while ensuring compliance with federal laws and regulations. The bill seeks to promote economic growth through offshore banking activities while addressing concerns related to money laundering, tax evasion, and other illicit financial activities.
2024-02-09: First Reading Economic Matters
2024-02-09: Hearing 3/05 at 1:00 p.m.
2024-03-12: Unfavorable Report by Economic Matters
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