Iran Counter-Proliferation Act of 2007

To impose sanctions on Iran and on other countries for assisting Iran in developing a nuclear program, and for other purposes.

8/3/2007--Introduced.
Iran Counter-Proliferation Act of 2007 - Amends the Iran Sanctions Act of 1996 to expand the definitions of "petroleum resources" and "person."
Expresses the sense of Congress concerning:
(1) a variety of existing and proposed sanctions against Iran; and
(2) mechanisms to assure a supply of nuclear fuel for peaceful means. Subjects Iran to specified economic sanctions unless the President certifies to Congress that Iran has verifiably dismantled all nuclear enrichment-related and reprocessing-related programs. Subjects, with respect to prohibited transactions with Iran, a parent company to penalties for violations committed by certain subsidiaries outside the United States that would be subject to prohibitions if committed inside the United States or by a U.S. person. Amends the Internal Revenue Code to eliminate specified geological and geophysical expense amortization benefits if petroleum-related sanctions are imposed under the Iran Sanctions Act of 1996 on any member of an expanded affiliated group whose common parent is a foreign corporation. Revises the definition of "affiliated group." Directs the President to reduce annual U.S. contributions to the International Bank for Reconstruction and Development (World Bank) based upon Bank amounts provided to entities and projects in Iran. Authorizes appropriations for the Department of the Treasury's Office of Terrorism and Financial Intelligence.
Requires the Director of National Intelligence to submit to Congress an updated National Intelligence Estimate on Iran.
Authorizes the President to:
(1) carry out exchange programs with the people of Iran; and
(2) make voluntary grant-based contributions to the International Atomic Energy Agency (IAEA) for the establishment of an international nuclear fuel bank to maintain a reserve of low-enriched uranium in case of a disruption in the supply of reactor fuel by normal market mechanisms. Amends the Securities and Exchange Act of 1945 to require securities issuers to disclose to the Securities and Exchange Commission (SEC) post-January 1, 2007, investments in Iran's energy sector in excess of $20 million.


... morehide bill summarySee Full Bill Text

Sponsor

• Rep. Darrell Issa [R, CA-49]

Committees

• House Financial Services
• 4 more
  • House Ways and Means
  • House Intelligence (Permanent Select)
  • House Foreign Affairs
  • House Oversight and Government Reform
  close

Amendments

This bill has no amendments.

Amendments to H.R.3390

Number	Status	Purpose

Bill Status

Make a Bill Status Widget (Close help)

OpenCongress widgets allow you to display information about bills and issue areas on your own website or blog. First, select which bill or issue you want to track, then customize the appearance of the panel, and finally paste a simple chunk of HTML into your site. Now your community will have an easy, up-to-date way to track the status of important bills and issues in Congress.

Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
August 03, 2007

Show All Actions (7 actions)Hide Actions

All Bill Actions

• Aug 03, 2007: Referred to House Intelligence (Permanent Select)
• Aug 03, 2007: Referred to House Oversight and Government Reform
• Aug 03, 2007: Referred to House Ways and Means
• Aug 03, 2007: Referred to House Financial Services
• Aug 03, 2007: Referred to House Foreign Affairs
• Aug 03, 2007: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Oversight and Government Reform, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• Introduced on Aug 03, 2007.

---

Related Bills:

• S.970
• S.3227

Related Issue Areas:

• Weapons systems
• Uranium enrichment
• Uranium
• Trade
• 47 more
• Taxation
• Tax deductions
• Subsidiary corporations
• Sanctions (International law)
• Presidents
• President and foreign policy
• Petroleum industry
• Petroleum
• Official secrets
• Nuclear nonproliferation
• Nuclear fuels
• Middle East and North Africa
• Law
• Iran
• International finance
• International control of nuclear power
• International agencies
• International affairs
• Intelligence activities
• Information disclosure (Securities law)
• Income tax
• Hazardous substances
• Government information
• Foreign aid
• Fines (Penalties)
• Finance
• Executive departments
• Exchange of persons programs
• Energy
• Economic assistance
• Development credit institutions
• Depreciation and amortization
• Department of the Treasury
• Defense policy
• Corporation taxes
• Congressional reporting requirements
• Congressional oversight
• Congress and foreign policy
• Classified defense information
• Business
• Budgets
• Authorization
• Arms control
• Armed forces
• American investments
• Affiliated corporations
• Foreign policy

Data from the Congressional Research Service

Show More User Statistics... Hide User Statistics

In the News

We are not currently finding any news articles on this topic using our daily automated search of Google News. However, if you know of a relevant news article to display here, OpenCongress site editors have the ability to add it manually. Simply e-mail us the web address of this page and the web address of your suggested news article: We'll post relevant links as quickly as possible. Also, if this topic is important to you, you could write a letter to the editor -- if a news article refers this specific topic by name, a link to that news article is likely to appear here soon.

Blog Coverage

October 08, 2007 Election Central | Talking Points Memo | Obama Attacks Hillary ...

Related Bills: H.R.3390 Latest Major Action: 3/22/2007 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance. SUMMARY AS OF: 3/22/2007--Introduced. Iran Counter-Proliferation Act of 2007 - Amends the ...

Was this article useful? Yes or No

Source: TPM Election Central

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

August 06, 2007 Another Sanctions Bill Anyone?

Issa (R-CA) introduced HR 3390, to impose sanctions on Iran and on other countries for assisting Iran in developing a nuclear program, and for other purposes. The bill was referred to the Committee on Foreign Affairs in addition to the ...

Was this article useful? Yes or No

Source: Iran Nuclear Watch

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

August 04, 2007 H.R. 3390: Iran Counter-Proliferation Act of 2007 (GovTrack.us)

A bill in the US Congress: To impose sanctions on Iran and on other countries for assisting Iran in developing a nuclear program, and for other purposes.

Was this article useful? Yes or No

Source: GovTrack.us Tracked Events

Did you find this article useful? Your opinion counts - together, we're finding the very best news and blog coverage about Congress available on the web.

1 more posts...
See most useful blog posts

Information made available by: