; 50 U.S.C. 1701 note) is amended to read as follows: (d) Report on financial institutions organized under the laws of state sponsors of terrorism (1) In general Not later than 90 days after the date of the enactment of the Hizballah International Financing Prevention Amendments Act of 2017 , and annually thereafter for a period not to exceed three years, the President shall submit to the appropriate congressional committees a report that— (A) identifies each foreign financial institution described in paragraph (2) that the President determines engages in one or more activities described in subsection (a)(2); (B) provides a detailed description of each such activity; and (C) contains a determination with respect to each such foreign financial institution that is identified under subparagraph (A) as engaging in one or more activities described in subsection (a)(2) as to whether or not such foreign financial institution is in violation of Executive Order 13224 ( 50 U.S.C. 1701 note; relating to blocking property and prohibiting transactions with persons who commit, threaten to commit, or support terrorism) by reason of engaging in one or more such activities. (2) Foreign financial institution described (A) In general A foreign financial institution described in this paragraph is a foreign financial institution— (i) that, wherever located, is— (I) organized under the laws of a state sponsor of terrorism or any jurisdiction within a state sponsor of terrorism; (II) owned or controlled by the government of a state sponsor of terrorism; (III) located in the territory of a state sponsor of terrorism; or (IV) owned or controlled by a foreign financial institution described in subclause (I), (II), or (III)