A bill to prohibit foreign assistance to countries which fail to take steps to prevent and punish the laundering of drug-related profits in their territory, and for other purposes.

Amends the Foreign Assistance Act of 1961 to require the President to suspend aid to a country and to require the U.S. Executive Directors of multilateral development banks to oppose aid to such country if the President determines that the country has failed to take adequate steps to prevent and punish the laundering in that country of drug-related profits or monies. Sets forth the type of governmental actions that would be considered to be adequate steps to prevent the laundering of drug-related monies.

Requires the annual report to the Congress on efforts to reduce drug trafficking to identify countries that are centers of drug-money laundering operations and contain plans and timetables for preventing and punishing such activities and a discussion of the adequacy of the measures taken in accordance with such plans.