SECURE Act

Safeguarding Elections by Countering Unchallenged Russian Efforts Act or SECURE Act

This bill prohibits U.S. entities and individuals from dealing in Russian sovereign debt and requires reports on Russian government attempts to interfere with U.S. elections.

The prohibition shall apply to any financial instrument that represents Russian sovereign debt that has a maturity or duration period of at least 14 days, including (1) bonds issued by the Russian Central Bank, the Russian National Wealth Fund, or the Russian Federal Treasury; and (2) foreign exchange swap agreements with such entities.

The President may suspend this prohibition if the President reports to Congress a determination that there is no significant evidence to determine that Russia's government (or its agents) knowingly engaged in interference of any federal election since the most recent prior regularly scheduled federal election.

The President may also waive the application of the prohibition for national security purposes. If the President seeks a waiver on or before February 1, 2021, the waiver shall apply only if Congress passes a joint resolution supporting the waiver.

The bill also requires the Office of the Director of National Intelligence to report to Congress and the President no later than 90 days after a regularly scheduled federal election on whether there is significant evidence to determine whether Russia's government or its agents knowingly engaged in interference of that election.