1. Short title This Act may be cited as the Sanctions Enforcement and Financial Institutions Transparency Act or the SEFIT Act . 2. Determination On Certain Foreign Financial Institutions (a) Determination (1) In general Not later than 180 days after the date of the enactment of the this Act, and every 180 days thereafter for a period not to exceed 5 years, the Secretary of the Treasury shall submit to the appropriate congressional committees a determination on whether each foreign financial institution described in subsection (b) engages in, or has engaged in or attempted to engage in one or more activities described in subsection (c) and provides a detailed description of each such activity. (2) Appropriate congressional committees defined In this subsection, the term appropriate congressional committees means— (A) the Committee on Foreign Affairs and the Committee on Armed Services of the House of Representatives; and (B) the Committee on Foreign Relations and the Committee on Armed Services of the Senate. (b) Foreign financial institution described (1) In general A foreign financial institution described in this subsection is a foreign financial institution that, wherever located, is— (A) organized under the laws of a state sponsor of terrorism or any jurisdiction within a state sponsor of terrorism; (B) owned or controlled, directly or indirectly by the government of a state sponsor of terrorism; (C) located in the territory of a state sponsor of terrorism; or (D) owned or controlled by a foreign financial institution described in subparagraph (A), (B), or (C); and (E) the capitalization of which exceeds $10,000,000. (2) State sponsor of terrorism defined In this subsection, the term state sponsor of terrorism means a country the government of which the Secretary of State has determined is a government that has repeatedly provided support for acts of international terrorism for purposes of— (A) section 1754(c) of the Export Control Reform Act of 2018