S 3227 PCSCommentsClose CommentsPermalink

To impose sanctions on Iran and for other purposes.CommentsClose CommentsPermalink

July 7, 2008CommentsClose CommentsPermalink

Mr. BAUCUS, from the Committee on Finance, reported the following original bill; which was read twice and placed on the calendarCommentsClose CommentsPermalink

To impose sanctions on Iran and for other purposes.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title- This Act may be cited as the ‘Iran Sanctions Act of 2008’.CommentsClose CommentsPermalink





(b) Table of Contents- The table of contents for this Act is as follows:CommentsClose CommentsPermalink





Sec. 1. Short title; table of contents.CommentsClose CommentsPermalink





Sec. 2. Findings.CommentsClose CommentsPermalink





Sec. 3. Sense of Congress.CommentsClose CommentsPermalink





Sec. 4. Construction with respect to use of military force.CommentsClose CommentsPermalink





Sec. 5. Definitions.CommentsClose CommentsPermalink





Sec. 6. Expansion of definition of person in the Iran Sanctions Act of 1996.CommentsClose CommentsPermalink





Sec. 7. Russia nuclear cooperation.CommentsClose CommentsPermalink





Sec. 8. Economic sanctions relating to Iran.CommentsClose CommentsPermalink





Sec. 9. Liability of parent companies for violations of sanctions by foreign entities.CommentsClose CommentsPermalink





Sec. 10. Mandatory investigations into the imposition of sanctions.CommentsClose CommentsPermalink





Sec. 11. Modification of certain tax incentives for oil companies investing in Iran.CommentsClose CommentsPermalink





Sec. 12. World Bank loans to Iran.CommentsClose CommentsPermalink





Sec. 13. Increased capacity for efforts to combat unlawful or terrorist financing.CommentsClose CommentsPermalink





Sec. 14. Exchange programs with the people of Iran.CommentsClose CommentsPermalink





Sec. 15. Sense of Congress on radio broadcasting to Iran.CommentsClose CommentsPermalink





Sec. 16. Sense of Congress regarding the international regime for the assured supply of nuclear fuel for peaceful means.CommentsClose CommentsPermalink





Sec. 17. Reporting requirements.CommentsClose CommentsPermalink





Sec. 18. Waiver authority.CommentsClose CommentsPermalink





Sec. 19. Termination.CommentsClose CommentsPermalink

SEC. 2. FINDINGS.

Congress makes the following findings:CommentsClose CommentsPermalink





(1) For more than 20 years, Iran has pursued a secret nuclear program that is intended to produce a nuclear weapons capability for Iran.CommentsClose CommentsPermalink





(2) The Government of Iran has consistently misled the United Nations, the International Atomic Energy Agency, and the United States as to the objectives and scope of its nuclear activities.CommentsClose CommentsPermalink





(3) Iran has refused to comply with United Nations Security Council Resolutions 1737 (2006), 1747 (2007), and 1803 (2008), which called for the suspension of all uranium enrichment-related and reprocessing activities, and is advancing work at its largest nuclear facility.CommentsClose CommentsPermalink





(4) The International Atomic Energy Agency is unable to verify the absence of undeclared nuclear material and activities in Iran and its Director General has stated that Iran could be 6 months to a year away from acquiring the material necessary to make a nuclear weapon.CommentsClose CommentsPermalink





(5) The Government of Iran possessing a nuclear weapons capability would pose a grave threat to the security of the United States and its allies around the world.CommentsClose CommentsPermalink





(6) It is in the national security interests of the United States to prevent Iran from acquiring a nuclear weapons capability.CommentsClose CommentsPermalink





(7) The United States should use all political, economic, and diplomatic tools at its disposal to prevent Iran from acquiring a nuclear weapons capability.CommentsClose CommentsPermalink

SEC. 3. SENSE OF CONGRESS.

The following is the sense of Congress:CommentsClose CommentsPermalink





(1) The United States should pursue vigorously all measures in the international financial sector to restrict Iran’s ability to conduct international financial transactions, including prohibiting banks in the United States from handling indirect transactions with Iran’s state-owned banks and prohibiting financial institutions from engaging in dollar transactions with Iranian institutions.CommentsClose CommentsPermalink





(2) Iran should comply fully with its obligations under United Nations Security Council Resolutions 1737, 1747, and 1803, and any subsequent United Nations resolutions related to Iran’s nuclear program, and in particular the requirement to suspend without delay all uranium enrichment-related and reprocessing activities, including research and development, and all work on all heavy water-related nuclear activities, including research and development.CommentsClose CommentsPermalink





(3) The United Nations Security Council should take further measures beyond Resolutions 1737, 1747, and 1803 to tighten sanctions on Iran, including preventing new investment in Iran’s energy sector, as long as Iran fails to comply with the international community’s demand to halt its uranium enrichment campaign.CommentsClose CommentsPermalink





(4) The United States should encourage foreign governments to direct state-owned entities to cease all investment in Iran’s energy sector and all exports to and imports from Iran of refined petroleum products and to persuade, and, where possible, require private entities based in their territories to cease all investment in Iran’s energy sector and all exports to and imports from Iran of refined petroleum products.CommentsClose CommentsPermalink





(5) Administrators of Federal and State pension plans should divest all assets or holdings from foreign companies and entities that have invested or invest in the future in Iran’s energy sector.CommentsClose CommentsPermalink

SEC. 4. CONSTRUCTION WITH RESPECT TO USE OF MILITARY FORCE.

Nothing in this Act shall be construed as giving the President the authority to use military force against Iran.CommentsClose CommentsPermalink

SEC. 5. DEFINITIONS.

In this Act:CommentsClose CommentsPermalink





(1) AGRICULTURAL COMMODITY- The term ‘agricultural commodity’ has the meaning given that term in section 102 of the Agricultural Trade Act of 1978 (7 U.S.C. 5602).CommentsClose CommentsPermalink





(2) APPROPRIATE CONGRESSIONAL COMMITTEES- The term ‘appropriate congressional committees’ has the meaning given that term in section 14(2) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note).CommentsClose CommentsPermalink





(3) EXECUTIVE AGENCY- The term ‘executive agency’ has the meaning given the term in section 4 of the Office of Federal Procurement Policy Act (41 U.S.C. 403).CommentsClose CommentsPermalink





(4) FAMILY MEMBER- The term ‘family member’ means, with respect to an individual, the spouse, children, grandchildren, or parents of the individual.CommentsClose CommentsPermalink





(5) INVESTMENT- The term ‘investment’ has the meaning given that term in section 14(9) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note).CommentsClose CommentsPermalink





(6) IRANIAN DIPLOMATS AND REPRESENTATIVES OF OTHER GOVERNMENT AND MILITARY OR QUASI-GOVERNMENTAL INSTITUTIONS OF IRAN- The term ‘Iranian diplomats and representatives of other government and military or quasi-governmental institutions of Iran’ has the meaning given that term in section 14(11) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note).CommentsClose CommentsPermalink





(7) MEDICAL DEVICE- The term ‘medical device’ has the meaning given the term ‘device’ in section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321).CommentsClose CommentsPermalink





(8) MEDICINE- The term ‘medicine’ has the meaning given the term ‘drug’ in section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321).CommentsClose CommentsPermalink

SEC. 6. EXPANSION OF DEFINITION OF PERSON IN THE IRAN SANCTIONS ACT OF 1996.

Section 14(13)(B) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) is amended to read as follows:CommentsClose CommentsPermalink





‘(B)(i)(I) a corporation, business association, partnership, society, trust, financial institution, insurer, underwriter, guarantor, or any other business organization, including any foreign subsidiary, parent, or affiliate of one of the foregoing; orCommentsClose CommentsPermalink





‘(II) any other nongovernmental entity, organization, or group; andCommentsClose CommentsPermalink





‘(ii) any governmental entity operating as a business enterprise, including an export credit agency; and’.CommentsClose CommentsPermalink

SEC. 7. RUSSIA NUCLEAR COOPERATION.

(a) In General- Notwithstanding any other provision of law, and in addition to any other sanction in effect, beginning on the date that is 15 days after the date of the enactment of this Act, the policies described in subsection (b) shall apply with respect to Russia, unless the President makes a certification to Congress described in subsection (c).CommentsClose CommentsPermalink





(b) Policies- The policies described in this subsection are the following:CommentsClose CommentsPermalink





(1) AGREEMENTS- The United States may not enter into an agreement for cooperation with Russia pursuant to section 123 of the Atomic Energy Act (42 U.S.C. 2153).CommentsClose CommentsPermalink





(2) LICENSES TO EXPORT NUCLEAR MATERIAL, FACILITIES, OR COMPONENTS- The United States may not issue a license to export directly or indirectly to Russia any nuclear material, facilities, components, or other goods, services, or technology that would be subject to an agreement under section 123 of the Atomic Energy Act (42 U.S.C. 2153).CommentsClose CommentsPermalink





(3) TRANSFERS OF NUCLEAR MATERIAL, FACILITIES, OR COMPONENTS- The United States may not approve the transfer or retransfer directly or indirectly to Russia of any nuclear material, facilities, components, or other goods, services, or technology that would be subject to an agreement under section 123 of the Atomic Energy Act (42 U.S.C. 2153).CommentsClose CommentsPermalink





(c) Certification- The certification described in this subsection means a certification made by the President to Congress on or after the date that is 15 days after the date of the enactment of this Act that the President has determined that--CommentsClose CommentsPermalink





(1) Russia has suspended all nuclear assistance to Iran and all transfers of advanced conventional weapons and missiles to Iran; orCommentsClose CommentsPermalink





(2) Iran has completely, verifiably, and irreversibly dismantled all nuclear enrichment-related and reprocessing-related programs.CommentsClose CommentsPermalink





(d) Termination of Policies- The policies described in subsection (b) shall remain in effect until such time as the President makes the certification to Congress described in subsection (c).CommentsClose CommentsPermalink

SEC. 8. ECONOMIC SANCTIONS RELATING TO IRAN.

(a) In General- Notwithstanding any other provision of law, and in addition to any other sanction in effect, beginning on the date that is 15 days after the date of the enactment of this Act, the economic sanctions described in subsection (b) shall apply with respect to Iran.CommentsClose CommentsPermalink





(b) Sanctions- The sanctions described in this subsection are the following:CommentsClose CommentsPermalink





(1) PROHIBITION ON IMPORTS- No article of Iranian origin may be imported directly or indirectly into the United States.CommentsClose CommentsPermalink





(2) PROHIBITION ON EXPORTS-CommentsClose CommentsPermalink





(A) IN GENERAL- Except as provided in subparagraph (B), no article that is of United States origin may be exported directly or indirectly to Iran.CommentsClose CommentsPermalink





(B) EXCEPTIONS-CommentsClose CommentsPermalink





(i) IN GENERAL- The prohibition in subparagraph (A) does not apply to exports to Iran of--CommentsClose CommentsPermalink





(I) agricultural commodities;CommentsClose CommentsPermalink





(II) medicine or medical devices; orCommentsClose CommentsPermalink





(III) other articles exported to Iran to provide humanitarian assistance to the people of Iran.CommentsClose CommentsPermalink





(ii) INFORMATIONAL MATERIALS-CommentsClose CommentsPermalink





(I) IN GENERAL- The President may not regulate or prohibit the exportation, directly or indirectly, to Iran of informational materials, including publications, films, posters, phonograph records, photographs, microfilms, microfiche, tapes, compact discs, CD ROMs, artworks, and news wire feeds that are classifiable under headings 9701, 9702, or 9703 of the Harmonized Tariff Schedule of the United States.CommentsClose CommentsPermalink





(II) EXCEPTION- The limitation on regulation or prohibition of exportation under subclause (I) does not apply to informational materials the exportation of which are otherwise controlled--CommentsClose CommentsPermalink

(aa) under section 5 of the Export Administration Act of 1979 (50 U.S.C. App. 2404) (as in effect pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.)); orCommentsClose CommentsPermalink

(bb) under section 6 of that Act (50 U.S.C. App. 2405), to the extent that such controls promote the nonproliferation or antiterrorism policies of the United States or with respect to which acts are prohibited by chapter 37 of title 18, United States Code.CommentsClose CommentsPermalink

(3) ACCESSION TO WTO- The United States Trade Representative or any other Federal official may not take any action that would extend preferential trade treatment to, or lead to the accession to the World Trade Organization of, Iran.CommentsClose CommentsPermalink





(4) FREEZING ASSETS-CommentsClose CommentsPermalink





(A) IN GENERAL- At such time as the United States has access to the names of Iranian diplomats and representatives of other government and military or quasi-governmental institutions of Iran that are subject to sanctions imposed under the authority of the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) or any other provision of law relating to the imposition of sanctions with respect to Iran, the President shall take such action as may be necessary to freeze immediately the funds and other assets belonging to anyone so named and any family members or associates of those so named to whom assets or property of those so named were transferred on or after January 1, 2008. The action described in the preceding sentence includes requiring any United States financial institution that holds funds and assets of a person so named to report promptly to the Office of Foreign Assets Control information regarding such funds and assets.CommentsClose CommentsPermalink





(B) ASSET REPORTING REQUIREMENT- Not later than 14 days after a decision is made to freeze the property or assets of any person under this paragraph, the President shall report the name of such person to the appropriate congressional committees.CommentsClose CommentsPermalink





(5) UNITED STATES GOVERNMENT CONTRACTS- The head of an executive agency may not procure, or enter into a contract for the procurement of, any goods or services from a person that meets the criteria for the imposition of sanctions under section 5(a) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note).CommentsClose CommentsPermalink

SEC. 9. LIABILITY OF PARENT COMPANIES FOR VIOLATIONS OF SANCTIONS BY FOREIGN ENTITIES.

(a) In General- In any case in which an entity, the parent company of which is a United States person, engages in an act outside the United States that, if committed in the United States or by a United States person, would violate the provisions of Executive Order 12959 (50 U.S.C. 1701 note) or Executive Order 13059 (50 U.S.C. 1701 note), or any other prohibition on transactions with respect to Iran imposed under the authority of the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) or any other provision of law, the parent company of the entity shall be subject to the penalties for the act if the parent company knowingly participates in the act.CommentsClose CommentsPermalink





(b) Effective Date-CommentsClose CommentsPermalink





(1) IN GENERAL- Subsection (a) shall take effect on the date of the enactment of this Act and apply with respect to acts described in that subsection that are--CommentsClose CommentsPermalink





(A) commenced on or after the date of the enactment of this Act; orCommentsClose CommentsPermalink





(B) except as provided in paragraph (2), commenced before such date of enactment, if such acts continue on or after such date of enactment.CommentsClose CommentsPermalink





(2) EXCEPTION- Subsection (a) shall not apply with respect to an act described in paragraph (1)(B) by an entity if the parent company of the entity divests or terminates its business with that entity not later than 90 days after such date of enactment.CommentsClose CommentsPermalink





(c) Definitions- In this section:CommentsClose CommentsPermalink





(1) ENTITY- The term ‘entity’ means a partnership, association, trust, joint venture, corporation, or other organization.CommentsClose CommentsPermalink





(2) PARENT COMPANY- The term ‘parent company’ means an entity--CommentsClose CommentsPermalink





(A) that is a United States person; andCommentsClose CommentsPermalink





(B)(i) that owns, directly or indirectly, more than 50 percent of the equity interest by vote or value in another entity;CommentsClose CommentsPermalink





(ii) board members or employees of which hold a majority of the seats on the board of directors of another entity; orCommentsClose CommentsPermalink





(iii) that otherwise controls or is able to control the actions, policies, or personnel decisions of another entity.CommentsClose CommentsPermalink





(3) UNITED STATES PERSON- The term ‘United States person’ means--CommentsClose CommentsPermalink





(A) a natural person who is a citizen, resident, or national of the United States; andCommentsClose CommentsPermalink





(B) an entity that is organized under the laws of the United States, any State or territory thereof, or the District of Columbia, if natural persons described in subparagraph (A) own, directly or indirectly, more than 50 percent of the outstanding capital stock or other beneficial interest in such entity.CommentsClose CommentsPermalink

SEC. 10. MANDATORY INVESTIGATIONS INTO THE IMPOSITION OF SANCTIONS.

(a) In General- Section 4(f) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) is amended--CommentsClose CommentsPermalink





(1) in paragraph (1), by striking ‘should’ and inserting ‘shall’;CommentsClose CommentsPermalink





(2) in paragraph (2), by striking ‘should’ and inserting ‘shall’; andCommentsClose CommentsPermalink





(3) by adding at the end the following:CommentsClose CommentsPermalink





‘(3) EXTENSION OF TIME FOR INVESTIGATIONS- The President may extend the time period for making a determination under paragraph (2) by not more than an additional 180 days if the President determines that the President will be unable to make a determination during the time period required under paragraph (2).’.CommentsClose CommentsPermalink





(b) Effective Date- The amendments made by subsection (a) shall apply with respect to investigations initiated based on information indicating that a person is engaged in investment activity described in section 5(a) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) that is received by the United States on or after the date that is 90 days after the date of the enactment of this Act.CommentsClose CommentsPermalink

SEC. 11. MODIFICATION OF CERTAIN TAX INCENTIVES FOR OIL COMPANIES INVESTING IN IRAN.

(a) In General- Subsection (h) of section 167 of the Internal Revenue Code of 1986 (relating to amortization of geological and geophysical expenditures) is amended by adding at the end the following new paragraph:CommentsClose CommentsPermalink





‘(6) LONGER AMORTIZATION PERIOD WHEN IRAN SANCTIONS IN EFFECT-CommentsClose CommentsPermalink





‘(A) IN GENERAL- In the case of geological and geophysical expenses paid or incurred during any taxable year ending during a sanction period with respect to the taxpayer--CommentsClose CommentsPermalink





‘(i) paragraphs (1) and (4) shall be applied by substituting ‘10-year’ for ‘24-month’, andCommentsClose CommentsPermalink





‘(ii) paragraph (5)(A) shall be applied by substituting ‘10-year’ for ‘7-year’.CommentsClose CommentsPermalink





‘(B) SPECIAL RULE FOR UNAMORTIZED EXPENSES AS OF BEGINNING OF SANCTION PERIOD- In the case of geological and geophysical expenses paid or incurred after December 31, 2008, and remaining unamortized as of the beginning of the first taxable year ending during a sanction period with respect to the taxpayer, such unamortized expenses shall be treated as having been paid or incurred during such first taxable year for purposes of applying subparagraph (A).CommentsClose CommentsPermalink





‘(C) SPECIAL RULE FOR UNAMORTIZED EXPENSES AS OF END OF SANCTION PERIOD- In the case of geological and geophysical expenses paid or incurred after December 31, 2008, and remaining unamortized as of the beginning of the first taxable year ending after the last day of a sanction period, the taxpayer may elect to treat such unamortized expenses as having been paid or incurred during such first taxable year for purposes of applying this subsection.CommentsClose CommentsPermalink





‘(D) SANCTION PERIOD- For purposes of this paragraph, the term ‘sanction period’ means, with respect to any taxpayer, any period during which sanctions under section 5(a) of the Iran Sanctions Act of 1996 or section 8 of the Iran Sanctions Act of 2008 (relating to sanctions with respect to the development of petroleum resources of Iran)--CommentsClose CommentsPermalink





‘(i) are imposed on the taxpayer, orCommentsClose CommentsPermalink





‘(ii) are imposed on any other member of the expanded affiliated group which includes the taxpayer, or would be so imposed if such other member were a domestic corporation.CommentsClose CommentsPermalink





‘(E) EXPANDED AFFILIATED GROUP- For purposes of this paragraph--CommentsClose CommentsPermalink





‘(i) IN GENERAL- The term ‘expanded affiliated group’ means an affiliated group as defined in section 1504(a), determined--CommentsClose CommentsPermalink





‘(I) by substituting ‘more than 50 percent’ for ‘at least 80 percent’ each place it appears, andCommentsClose CommentsPermalink





‘(II) without regard to paragraphs (2), (3), and (4) of section 1504(b).CommentsClose CommentsPermalink





‘(ii) OTHER AFFILIATED ENTITIES- Under regulations prescribed by the Secretary, the term ‘expanded affiliated group’ shall include entities other than corporations which, based on principles similar to the principles which apply in the case of clause (i), are members of the same affiliated group.’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by subsection (a) shall apply to expenses paid or incurred on or after January 1, 2009.CommentsClose CommentsPermalink

SEC. 12. WORLD BANK LOANS TO IRAN.

(a) Report- Not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, the Secretary of the Treasury shall submit to the appropriate congressional committees a report on--CommentsClose CommentsPermalink





(1) the number of loans provided by the World Bank to entities in Iran and for projects or activities in Iran;CommentsClose CommentsPermalink





(2) the dollar amount of such loans; andCommentsClose CommentsPermalink





(3) the voting record of each member of the World Bank on such loans.CommentsClose CommentsPermalink





(b) Reduction of Contribution of the United States- If the World Bank extends any new loans to entities in Iran, or for projects and activities in Iran, after December 31, 2008, the President shall reduce the total amount otherwise payable on behalf of the United States to the World Bank for fiscal year 2010 and each fiscal year thereafter by an amount that bears the same ratio to the total amount otherwise payable as--CommentsClose CommentsPermalink





(1) the total of the amounts provided by the Bank to entities in Iran, and for projects and activities in Iran, in the preceding fiscal year, bears toCommentsClose CommentsPermalink





(2) the total of the amounts provided by the Bank to all entities, and for all projects and activities, in the preceding fiscal year.CommentsClose CommentsPermalink





(c) Allocation of Amounts Not Contributed to the World Bank- There is authorized to be appropriated to the United States Agency for International Development for fiscal year 2010 and each fiscal year thereafter an amount equal to the amount made available as a result of the application of subsection (b). Funds appropriated pursuant to this subsection shall be made available for the Child Survival and Health Programs Fund to carry out programs relating to maternal and child health, vulnerable children, and infectious diseases other than HIV/AIDS.CommentsClose CommentsPermalink

SEC. 13. INCREASED CAPACITY FOR EFFORTS TO COMBAT UNLAWFUL OR TERRORIST FINANCING.

(a) Findings- The work of the Office of Terrorism and Financial Intelligence of the Department of the Treasury, which includes the Office of Foreign Assets Control and the Financial Crimes Enforcement Network, is critical to ensuring that the international financial system is not used for purposes of supporting terrorism and developing weapons of mass destruction.CommentsClose CommentsPermalink





(b) Authorization of Appropriations for Office of Terrorism and Financial Intelligence- There is authorized to be appropriated to the Secretary of the Treasury for the Office of Terrorism and Financial Intelligence--CommentsClose CommentsPermalink





(1) $61,712,000 for fiscal year 2009; andCommentsClose CommentsPermalink





(2) such sums as may be necessary for each of the fiscal years 2010 and 2011.CommentsClose CommentsPermalink





(c) Authorization of Appropriations for Financial Crimes Enforcement Network- Section 310(d)(1) of title 31, United States Code, is amended by striking ‘such sums as may be necessary for fiscal years 2002, 2003, 2004, and 2005’ and inserting ‘$91,335,000 for fiscal year 2009 and such sums as may be necessary for each of the fiscal years 2010 and 2011’.CommentsClose CommentsPermalink

SEC. 14. EXCHANGE PROGRAMS WITH THE PEOPLE OF IRAN.

(a) Sense of Congress- It is the sense of Congress that the United States should seek to enhance its friendship with the people of Iran, particularly by identifying young people of Iran to come to the United States under United States exchange programs.CommentsClose CommentsPermalink





(b) Exchange Programs Authorized- The President is authorized to carry out exchange programs with the people of Iran, particularly the young people of Iran. To the extent practicable, such programs shall be carried out in a manner consistent with the requirements for eligibility for assistance specified in section 302(b) of the Iran Freedom Support Act (Public Law 109-293; 120 Stat. 1348).CommentsClose CommentsPermalink





(c) Authorization of Appropriations- Of the amounts available under the heading ‘Educational and Cultural Exchange Programs’, under the heading ‘Administration of Foreign Affairs’, under title IV of the Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006 (Public Law 109-108; 119 Stat. 2321), there are authorized to be appropriated to the President to carry out this section $15,000,000 for fiscal year 2009.CommentsClose CommentsPermalink

SEC. 15. SENSE OF CONGRESS ON RADIO BROADCASTING TO IRAN.

It is the sense of Congress that the Broadcasting Board of Governors should devote a greater proportion of the programming of the Radio Farda service to programs offering news and analysis to further the open communication of information and ideas to Iran.CommentsClose CommentsPermalink

SEC. 16. SENSE OF CONGRESS REGARDING THE INTERNATIONAL REGIME FOR THE ASSURED SUPPLY OF NUCLEAR FUEL FOR PEACEFUL MEANS.

(a) Policy- It is the policy of the United States to support the establishment of an international regime for the assured supply of nuclear fuel for peaceful means under a multilateral authority, such as the International Atomic Energy Agency.CommentsClose CommentsPermalink





(b) Sense of Congress on an International Regime for the Assured Supply of Nuclear Fuel- It is the sense of Congress that--CommentsClose CommentsPermalink





(1) the Concept for a Multilateral Mechanism for Reliable Access to Nuclear Fuel, proposed by the United States, France, the Russian Federation, the Federal Republic of Germany, the United Kingdom, and the Netherlands on May 31, 2006, is welcome and should be expanded upon at the earliest possible opportunity;CommentsClose CommentsPermalink





(2) the proposal by the Government of the Russian Federation to bring one of its uranium enrichment facilities under international management and oversight is also a welcome development and should be encouraged by the United States;CommentsClose CommentsPermalink





(3) the offer by the Nuclear Threat Initiative of $50,000,000 in funds to support the creation of an international nuclear fuel bank by the International Atomic Energy Agency is also welcome, and the United States and other member states of the International Atomic Energy Agency should pledge collectively at least an additional $100,000,000 in matching funds to fulfill the proposal made by the Nuclear Threat Initiative; andCommentsClose CommentsPermalink





(4) the Global Nuclear Energy Partnership, initiated by President George W. Bush in January 2006, is intended to provide a reliable fuel supply throughout the fuel cycle and promote the nonproliferation goals of the United States.CommentsClose CommentsPermalink





(c) Sense of Congress on Contributions to IAEA To Establish an International Nuclear Fuel Bank-CommentsClose CommentsPermalink





(1) IN GENERAL- It is the sense of Congress that the President should determine the appropriateness of making voluntary contributions on a grant basis to the International Atomic Energy Agency (in this subsection referred to as the ‘IAEA’) to support the establishment of an international nuclear fuel bank to maintain a reserve of low-enriched uranium for the production of reactor fuel to be provided to eligible countries in the case of a disruption in the supply of reactor fuel by normal market mechanisms.CommentsClose CommentsPermalink





(2) DETERMINATIONS- It is the sense of Congress that, in making a determination under paragraph (1), the President should consider whether--CommentsClose CommentsPermalink





(A) the IAEA has received pledges in a total amount of not less than $100,000,000 from other governments or entities for the purpose of supporting the establishment of the international nuclear fuel bank referred to in paragraph (1);CommentsClose CommentsPermalink





(B) the international nuclear fuel bank referred to in paragraph (1) will be under the oversight of the IAEA or another multilateral authority; andCommentsClose CommentsPermalink





(C) the international nuclear fuel bank will provide nuclear reactor fuel to a country only if--CommentsClose CommentsPermalink





(i) at the time of the request for nuclear reactor fuel, the country is in full compliance with its IAEA safeguards agreement and has an additional protocol for safeguards in force;CommentsClose CommentsPermalink





(ii) in the case of a country that at any time prior to the request for nuclear reactor fuel has been determined to be in noncompliance with its IAEA safeguards agreement, the IAEA Board of Governors determines that the country has taken all necessary actions to satisfy any concerns of the IAEA Director General regarding the activities that led to the prior determination of noncompliance;CommentsClose CommentsPermalink





(iii) the country agrees to use the nuclear reactor fuel in accordance with its IAEA safeguards agreement; andCommentsClose CommentsPermalink





(iv) the country does not operate uranium enrichment or spent-fuel reprocessing facilities of any scale.CommentsClose CommentsPermalink





(3) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated $50,000,000 to carry out this section for fiscal year 2009. Amounts appropriated pursuant to this section shall remain available until September 30, 2011.CommentsClose CommentsPermalink

SEC. 17. REPORTING REQUIREMENTS.

(a) Foreign Investment in Iran- Not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, the Secretary of the Treasury shall submit to the appropriate congressional committees a report on--CommentsClose CommentsPermalink





(1) any foreign investments made in Iran’s energy sector on or after January 1, 2008; andCommentsClose CommentsPermalink





(2) the determination of the President on whether each such investment qualifies as a sanctionable offense under section 5(a) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note).CommentsClose CommentsPermalink





(b) Investment by United States Companies in Iran- Not later than 180 days after the date of the enactment of this Act, and annually thereafter, the Secretary of the Treasury shall report to the appropriate congressional committees the names of persons that have operations or conduct business in the United States that have invested in Iran and the dollar amount of each such investment.CommentsClose CommentsPermalink





(c) Establishment of International Regime- Not later than 180 days after the date of the enactment of this Act, the President shall submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a report on the activities of the United States to support the establishment of an international regime for the assured supply of nuclear fuel for peaceful means under a multilateral authority, such as the International Atomic Energy Agency.CommentsClose CommentsPermalink





(d) Export Credits- Not later than 90 days after the date of the enactment of this Act, and every 90 days thereafter, the Secretary of the Treasury shall report to the appropriate congressional committees on the export credits issued by foreign banks to persons investing in the energy sector of Iran, and any fines, restrictions, or other actions taken by the President to discourage or prevent the issuance of such export credits.CommentsClose CommentsPermalink





(e) Sense of Congress on Investment by the Federal Thrift Savings Plan in Iran- It is the sense of Congress that not later than 180 days after the date of the enactment of this Act, and annually thereafter, the Executive Director of the Federal Retirement Thrift Investment Board should report to the appropriate congressional committees on any investment in entities that invest in Iran from the Thrift Savings Fund established under section 8437 of title 5, United States Code.CommentsClose CommentsPermalink

SEC. 18. WAIVER AUTHORITY.

The President may waive the imposition of sanctions under section 8, 9, or 12 if the President--CommentsClose CommentsPermalink





(1) determines that such a waiver is in the national interest of the United States; andCommentsClose CommentsPermalink





(2) submits to the appropriate congressional committees a report describing the reasons for the determination.CommentsClose CommentsPermalink

SEC. 19. TERMINATION.

Except as provided in section 7, the provisions of, and amendments made by, this Act shall terminate on the earlier of--CommentsClose CommentsPermalink





(1) the date on which the President determines and certifies to the appropriate congressional committees that Iran has completely, verifiably, and irreversibly dismantled all uranium enrichment-related and reprocessing-related programs; orCommentsClose CommentsPermalink





(2) the date that is 5 years after the date of the enactment of this Act.CommentsClose CommentsPermalink

Calendar No. 863CommentsClose CommentsPermalink

To impose sanctions on Iran and for other purposes.CommentsClose CommentsPermalink

July 7, 2008CommentsClose CommentsPermalink