Hezbollah International Financing Prevention Act of 2014

Hezbollah International Financing Prevention Act of 2014 - (Sec. 2) States that it shall be U.S. policy to: (1) prevent Hezbollah's global logistics and financial network from operating in order to curtail funding of its domestic and international activities; and (2) utilize diplomatic, legislative, and executive avenues to combat Hezbollah's criminal activities in order to block that organization's ability to fund its global terrorist activities.

Title I: Prevention of Access by Hezbollah to International Financial and Other Institutions - (Sec. 101) Directs the President to report to Congress identifying: (1) satellite, broadcast, Internet, or other providers that knowingly transmit the content of al-Manar TV and its affiliates; and (2) the identity of those providers that have or have not been sanctioned pursuant to Executive Order 13224.

(Sec. 102) Directs the Secretary of the Treasury (Secretary) to prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly:

• facilitates a transaction or transactions for Hezbollah, or for a person acting on behalf of, or owned or controlled by Hezbollah;
• engages in money laundering to carry out such an activity;
• facilitates a significant transaction or provides significant financial services to carry out such an activity; or
• facilitates any of these activities, conspires to facilitate or participate in such an activity, or is owned or controlled by a foreign financial institution that knowingly engages in such an activity.

Applies specified penalties under the International Emergency Economic Powers Act for violations of this Act.

Authorizes the Secretary to waive the application of a prohibition for up to 180 days (with renewable 180-day waivers) if in U.S. national security interests, and with congressional notification.

Directs the Secretary to identify to Congress every 180 days each foreign central bank that carries out a prohibited activity.

Exempts from sanctions a foreign financial institution that is no longer engaging in a prohibited activity or is taking significant steps toward terminating such activity.

Title II: Reports on Designation of Hezbollah as a Significant Foreign Narcotics Trafficker and a Significant Transnational Criminal Organization - (Sec. 201) Expresses the sense of Congress that: (1) Hezbollah meets the criteria for designation as a significant foreign narcotics trafficker under the Foreign Narcotics Kingpin Designation Act, and (2) the President should designate Hezbollah as a significant foreign narcotics trafficker.

Directs the President to report to Congress on whether Hezbollah meets or does not meet the criteria for such designation.

(Sec. 202) Expresses the sense of Congress that: (1) Hezbollah meets the criteria for designation as a significant transnational criminal organization under Executive Order No. 13581, and (2) the President should designate Hezbollah as a significant transnational criminal organization.

Directs the President to report to Congress on whether Hezbollah meets or does not meet the criteria for such designation.

(Sec. 203) Directs the Secretary of State to report to Congress detailing Hezbollah's involvement in the trade in rough diamonds outside of the Kimberley Process Certification Scheme.

(Sec. 204) Directs the Secretary of State to report to Congress regarding actions taken through the Department's rewards program to obtain information on Hezbollah's fund raising, financing, and money laundering activities.

(Sec. 205) Directs the President to report to Congress regarding: (1) countries that support Hezbollah, in which Hezbollah maintains important portions of its global logistics networks, or in which Hezbollah conducts significant fund raising, financing, or money laundering activities; and (2) an assessment of whether a country is taking adequate measures to disrupt Hezbollah's networks and activities within that country.

Title III: Miscellaneous Provisions - (Sec. 301) Declares that nothing in this Act shall apply to authorized U.S. intelligence activities.

(Sec. 302) Directs the President to promulgate implementing regulations.

(Sec. 303) Amends the Enhanced Partnership with Pakistan Act of 2009 to reduce specified funding for Pakistan through FY2014.

(Sec. 304) States that this Act shall cease to be in effect 30 days after the President certifies to Congress that Hezbollah:

• is no longer designated as a foreign terrorist organization;
• is no longer listed in the Annex to Executive Order 13224 (blocking property and prohibiting transactions with persons who commit or support terrorism); and
• poses no significant threat to U.S. national security, interests, or allies.