Iran Counter-Proliferation Act of 2007

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

3/22/2007--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 certain sanctions against Iran. Subjects Russia to specified nuclear energy cooperation prohibitions unless the President certifies to Congress that:
(1) Russia has suspended all nuclear assistance and transfers of advanced conventional weapons and missiles to Iran; or
(2) Iran has verifiably dismantled all nuclear enrichment-related and reprocessing-related programs. 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.
Sets forth specified Iran investment-related reporting requirements.


... morehide bill summary

Sponsor

• Gordon Smith
• and 72 Co-Sponsors
  • Sen. Daniel Akaka [D, HI]
  • Sen. Lamar Alexander [R, TN]
  • Wayne Allard
  • Sen. John Barrasso [R, WY]
  • Sen. Max Baucus [D, MT]
  • Sen. Evan Bayh [D, IN]
  • Sen. Robert Bennett [R, UT]
  • Sen. Barbara Boxer [D, CA]
  • Sen. Sherrod Brown [D, OH]
  • Sen. Samuel Brownback [R, KS]
  • Sen. Jim Bunning [R, KY]
  • Sen. Richard Burr [R, NC]
  • Sen. Maria Cantwell [D, WA]
  • Sen. Benjamin Cardin [D, MD]
  • Sen. Thomas Carper [D, DE]
  • Sen. Robert Casey [D, PA]
  • Sen. Saxby Chambliss [R, GA]
  • Sen. Hillary Clinton [D, NY]
  • Norm Coleman
  • Sen. Susan Collins [R, ME]
  • Sen. Kent Conrad [D, ND]
  • Sen. Bob Corker [R, TN]
  • Sen. John Cornyn [R, TX]
  • Larry Craig
  • Sen. Michael Crapo [R, ID]
  • Sen. Jim DeMint [R, SC]
  • Sen. Christopher Dodd [D, CT]
  • Elizabeth Dole
  • Sen. Byron Dorgan [D, ND]
  • Sen. Richard Durbin [D, IL]
  • Sen. John Ensign [R, NV]
  • Sen. Lindsey Graham [R, SC]
  • Sen. Kay Hutchison [R, TX]
  • Sen. James Inhofe [R, OK]
  • Sen. Daniel Inouye [D, HI]
  • Sen. John Isakson [R, GA]
  • Sen. Tim Johnson [D, SD]
  • Sen. Edward Kennedy [D, MA]
  • Sen. John Kerry [D, MA]
  • Sen. Amy Klobuchar [D, MN]
  • Sen. Herbert Kohl [D, WI]
  • Sen. Jon Kyl [R, AZ]
  • Sen. Mary Landrieu [D, LA]
  • Sen. Frank Lautenberg [D, NJ]
  • Sen. Joseph Lieberman [I, CT]
  • Sen. Blanche Lincoln [D, AR]
  • Trent Lott
  • Sen. Mel Martinez [R, FL]
  • Sen. John McCain [R, AZ]
  • Sen. Mitch McConnell [R, KY]
  • Sen. Robert Menéndez [D, NJ]
  • Sen. Barbara Mikulski [D, MD]
  • Sen. Lisa Murkowski [R, AK]
  • Sen. Patty Murray [D, WA]
  • Sen. Ben Nelson [D, NE]
  • Sen. Bill Nelson [D, FL]
  • Barack Obama
  • Sen. Mark Pryor [D, AR]
  • Sen. Pat Roberts [R, KS]
  • Sen. Ken Salazar [D, CO]
  • Sen. Charles Schumer [D, NY]
  • Sen. Jefferson Sessions [R, AL]
  • Sen. Olympia Snowe [R, ME]
  • Sen. Debbie Ann Stabenow [D, MI]
  • Ted Stevens
  • John Sununu
  • Sen. Jon Tester [D, MT]
  • Sen. John Thune [R, SD]
  • Sen. David Vitter [R, LA]
  • Sen. George Voinovich [R, OH]
  • Sen. Sheldon Whitehouse [D, RI]
  • Sen. Roger Wicker [R, MS]
  close

Committees

• Senate Finance

Amendments

This bill has no amendments.

Amendments to S.970

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
March 22, 2007

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All Bill Actions

• Apr 08, 2008: Committee on Finance. Date of scheduled hearing. SD-215. 10:00 a.m.
• Apr 08, 2008: Committee on Finance. Hearings held.
• Mar 22, 2007: Introductory remarks on measure. (CR S3616-3617)
• Mar 22, 2007: Sponsor introductory remarks on measure. (CR S3616-3617)
• Mar 22, 2007: Read twice and referred to the Committee on Finance.
• Introduced on Mar 22, 2007.

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Related Bills:

• H.R.3390
• S.3227

Related Issue Areas:

• Foreign investments
• Foreign loans
• Free trade
• Gas industry
• 78 more
• Geology
• Geophysical prediction
• Government employees
• Government procurement
• Government trust funds
• Guided missiles
• Higher education
• Import restrictions
• Income tax
• Intelligence activities
• International affairs
• International agencies
• International banking
• International broadcasting
• International control of nuclear power
• International finance
• Investments
• Iran
• Middle East and North Africa
• Nuclear energy
• Nuclear energy research
• Nuclear exports
• Nuclear fuels
• Nuclear nonproliferation
• Oil well drilling
• Pension funds
• Pensions
• Petroleum industry
• President and foreign policy
• Presidents
• Public contracts
• Radio broadcasting
• Reactor fuel reprocessing
• Russia
• Sanctions (International law)
• Science policy
• State-sponsored terrorism
• Subsidiary corporations
• Tax deductions
• Tax-deferred compensation plans
• Taxation
• Terrorism
• Terrorists
• Trade
• Uranium
• Uranium enrichment
• Weapons of mass destruction
• Weapons systems
• Foreign policy
• Affiliated corporations
• Alien property
• American investments
• Arms sales
• Ballistic missiles
• Budgets
• Business
• Civil service retirement
• Congress
• Congress and foreign policy
• Congressional oversight
• Congressional reporting requirements
• Conventional weapons
• Corporate reorganizations
• Criminal justice
• Cultural relations
• Department of the Treasury
• Depreciation and amortization
• Development credit institutions
• Diplomats
• Education
• Educational exchanges
• Energy
• Exchange of persons programs
• Executive departments
• Export controls
• Export finance
• Foreign aid
• Foreign corporations

Data from the Congressional Research Service

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In the News

April 11, 2008 The Real World: Iran – N.Korea with oil?

The new Senate bill (S. 970), sponsored by Oregon Republican Gordon H. Smith , would impose sanctions on Iran and countries doing business with it. ...

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Source: Middle East Times, Egypt

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April 08, 2008 The Iran Counter-Proliferation Act of 2007

As state after state has ramped up efforts to divest pension funds from companies invested in Iran, and as S. 970, the Smith-Durbin Iran ...

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Source: American Enterprise Institute, DC

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Blog Coverage

December 10, 2008 Human Security Gateway - Iran: U.S. Concerns and Policy Responses ...

Bills in the 110th Congress, including HR 1400, S. 970, S. 3227, S. 3445, HR 7112, H.Con.Res. 362, and S.Res. 580 – versions of which are likely to be introduced in the 111th Congress – would tighten US sanctions on Iran.

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Source: Human Security Gateway: All Updates

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December 09, 2008 Human Security Gateway - Iran: U.S. Concerns and Policy Responses ...

Bills in the 110th Congress, including HR 1400, S. 970, S. 3227, S. 3445, HR 7112, H.Con.Res. 362, and S.Res. 580 – versions of which are likely to be introduced in the 111th Congress – would tighten US sanctions on Iran.

Was this article useful? Yes or No

Source: Human Security Gateway: All Updates

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December 08, 2008 CRIME Blog | The Dallas Morning News

2 Findings of S.970 Iran Counter-Proliferation Act of 2007 (Introduced in Senate):. (8) The Secretary of State should designate the Iranian Revolutionary Guards as a Foreign Terrorist Organization under section 219 of the Immigration ...

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Source: CRIME

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