S 970 ISCommentsClose CommentsPermalink

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

March 22, 2007

Mr. SMITH (for himself, Mr. DURBIN, Mr. LAUTENBERG, Mr. COLEMAN, Mr. LIEBERMAN, Mr. BROWNBACK, Mr. BAYH, Mr. KYL, Mr. THUNE, Ms. MIKULSKI, and Mr. MENENDEZ) introduced the following bill; which was read twice and referred to the Committee on FinanceCommentsClose CommentsPermalink

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

This Act may be cited as the `Iran Counter-Proliferation Act of 2007'.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 Resolution 1737, adopted on December 23, 2006, which called for the suspension of all 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) An Iranian nuclear weapons capability poses 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





(8) Nothing in this Act should be construed as giving the President the authority to use military force against Iran.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 that operate in United States currency from engaging in dollar transactions with Iranian institutions.CommentsClose CommentsPermalink





(2) The United States Trade Representative or any other Federal official should not take any action that would extend preferential trade treatment to, or lead to the accession to the World Trade Organization of, any country that is determined by the Secretary of State to offer government-backed export credit guarantees to companies that invest in Iran or any country in which the government owns or partially owns an entity that invests in Iran.CommentsClose CommentsPermalink





(3) Iran should comply fully with its obligations under United Nations Security Council Resolution 1737, and any subsequent United Nations resolutions related to Iran's nuclear program, and in particular the requirement to suspend without delay all 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





(4) The United Nations Security Council should take further measures beyond Resolution 1737 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 nuclear enrichment campaign.CommentsClose CommentsPermalink





(5) The United States should encourage foreign governments to direct state-owned entities to cease all investment in Iran's energy sector and all imports to and exports 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 imports to and exports from Iran of refined petroleum products.CommentsClose CommentsPermalink





(6) 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





(7) Iranian state-owned banks should not be permitted to use the banking system of the United States.CommentsClose CommentsPermalink





(8) The Secretary of State should designate the Iranian Revolutionary Guards as a Foreign Terrorist Organization under section 219 of the Immigration and Nationality Act (8 U.S.C. 1189) and the Secretary of the Treasury should place the Iranian Revolutionary Guards on the list of Specially Designated Global Terrorists under Executive Order 13224 (66 Fed. Reg. 186; relating to blocking property and prohibiting transactions with persons who commit, threaten to commit, or support terrorism).CommentsClose CommentsPermalink

SEC. 4. DEFINITIONS.

In this Act:CommentsClose CommentsPermalink





(1) 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





(2) 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





(3) 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





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

SEC. 5. CLARIFICATION AND EXPANSION OF DEFINITIONS.

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





(1) by inserting `financial institution, insurer, underwriter, guarantor, and other business organization, including any foreign subsidiary, parent, or affiliate of the foregoing,' after `trust,'; andCommentsClose CommentsPermalink





(2) by inserting `, such as an export credit agency' before the semicolon.CommentsClose CommentsPermalink





(b) Petroleum Resources- Section 14(14) of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) is amended by striking `petroleum and natural gas resources' and inserting `petroleum, petroleum by-products, liquefied natural gas, oil or liquefied natural gas, oil or liquefied natural gas tankers, and products used to construct or maintain pipelines used to transport oil or liquefied natural gas'.CommentsClose CommentsPermalink

SEC. 6. 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. 7. 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, unless the President makes a certification to Congress described in subsection (c).CommentsClose CommentsPermalink





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





(1) PROHIBITION ON IMPORTS- No article that is grown, produced, or manufactured in Iran 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 the growth, product, or manufacture of the United States may be exported directly or indirectly to Iran.CommentsClose CommentsPermalink





(B) EXCEPTION FOR FOOD AND MEDICINE- The prohibition in subparagraph (A) does not apply to exports to Iran of food and medicine grown, produced, or manufactured in the United States.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--CommentsClose CommentsPermalink





(A) Iran; orCommentsClose CommentsPermalink





(B) any other country that is determined by the Secretary of State to be--CommentsClose CommentsPermalink





(i) engaged in nuclear cooperation with Iran, including the transfer or sale of any item, material, goods, or technology that can contribute to uranium enrichment or nuclear reprocessing activities of Iran; orCommentsClose CommentsPermalink





(ii) contributing to the ballistic missile programs 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, the President shall take such action as may be necessary to freeze immediately the funds and other assets belonging to anyone so named, the family members of those so named, and any associates of those so named to whom assets or property of those so named were transferred on or after January 1, 2007. 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 United States Government 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





(c) Certification Described- The certification described in this subsection means a certification made by the President to Congress beginning on the date that is 15 days after the date of the enactment of this Act that the President has determined that Iran has completely, verifiably, and irreversibly dismantled all nuclear enrichment-related and reprocessing-related programs.CommentsClose CommentsPermalink





(d) Termination of Sanctions- The sanctions 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. LIABILITY OF PARENT COMPANIES FOR VIOLATIONS OF SANCTIONS BY FOREIGN ENTITIES.

(a) In General- In any case in which an entity 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 (60 Fed. Reg. 89) or Executive Order 13059 (62 Fed. Reg. 162), 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.), the parent company of the entity shall be subject to the penalties for the act to the same extent as if the parent company had engaged in the act.CommentsClose CommentsPermalink





(b) Applicability- Subsection (a) shall not apply to a parent company of an entity on which the President imposed a penalty for a violation described in subsection (a) that was in effect on the date of the enactment of this Act if the parent company divests or terminates its business with such 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 that is a United States person and--CommentsClose CommentsPermalink





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





(B) board members or employees of the entity hold a majority of board seats of another entity; orCommentsClose CommentsPermalink





(C) the entity 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 of the United States or who owes permanent allegiance to 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. 9. ELIMINATION 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) DENIAL WHEN IRAN SANCTIONS IN EFFECT-CommentsClose CommentsPermalink





`(A) IN GENERAL- If sanctions are imposed under section 5(a) of the Iran Sanctions Act of 1996 or section 7 of the Iran Counter-Proliferation Act of 2007 (relating to sanctions with respect to the development of petroleum resources of Iran) on any member of an expanded affiliated group the common parent of which is a foreign corporation, paragraph (1) shall not apply to any expense paid or incurred by any such member in any period during which the sanctions are in effect.CommentsClose CommentsPermalink





`(B) EXPANDED AFFILIATED GROUP- For purposes of subparagraph (A), 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





(b) Effective Date- The amendment made by subsection (a) shall apply to expenses paid or incurred on or after January 1, 2007.CommentsClose CommentsPermalink

SEC. 10. 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 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- The President shall reduce the total amount otherwise payable on behalf of the United States to the World Bank for fiscal year 2008 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 2008 and each fiscal year thereafter an amount equal to the revenues 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. 11. 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 Treasury, which includes the Office of Foreign Assets Control and the Financial Crimes Enforcement Center, 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- There is authorized to be appropriated to the Secretary of the Treasury for the Office of Terrorism and Financial Intelligence--CommentsClose CommentsPermalink





(1) $59,466,000 for fiscal year 2008; andCommentsClose CommentsPermalink





(2) such sums as may be necessary for each of the fiscal years 2009 and 2010.CommentsClose CommentsPermalink





(c) Authorization Amendment- 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 `$85,844,000 for fiscal year 2008 and such sums as may be necessary for each of the fiscal years 2009 and 2010'.CommentsClose CommentsPermalink

SEC. 12. NATIONAL INTELLIGENCE ESTIMATE ON IRAN.

As required under section 1213 of the John Warner National Defense Authorization Act for Fiscal Year 2007 (Public Law 109-364; 120 Stat. 2422), the Director of National Intelligence shall submit to Congress an updated, comprehensive National Intelligence Estimate on Iran.CommentsClose CommentsPermalink

SEC. 13. 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. Such programs shall be carried out to the extent practicable in a manner consistent with the eligibility for assistance requirements specified in section 302(b) of the Iran Freedom Support Act (Public Law 109-293; 120 Stat. 1348).CommentsClose CommentsPermalink





(c) Authorization- 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 is authorized to be appropriated to the President to carry out this section $10,000,000 for fiscal year 2008.CommentsClose CommentsPermalink

SEC. 14. RADIO BROADCASTING TO IRAN.

The Broadcasting Board of Governors shall 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. 15. INTERNATIONAL REGIME FOR THE ASSURED SUPPLY OF NUCLEAR FUEL FOR PEACEFUL MEANS.

(a) Sense of Congress- 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 (NTI) of $50,000,000 in funds to support the creation of an international nuclear fuel bank by the International Atomic Energy Agency (IAEA) is also welcome, and the United States and other member states of the IAEA should pledge collectively at least an additional $100,000,000 in matching funds to fulfill the NTI proposal; andCommentsClose CommentsPermalink





(4) the Global Nuclear Energy Partnership, initiated by President 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





(b) 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





(c) Contributions to IAEA-CommentsClose CommentsPermalink





(1) IN GENERAL- Subject to the requirements of paragraph (2), the President is authorized to make voluntary contributions on a grant basis to the International Atomic Energy Agency (referred to in this subsection as the `IAEA') for the purpose of supporting the establishment of an international nuclear fuel bank to maintain a reserve of low-enriched uranium for the production of reactor fuel to provide to eligible countries in the case of a disruption in the supply of reactor fuel by normal market mechanisms.CommentsClose CommentsPermalink





(2) REQUIREMENTS FOR CONTRIBUTIONS- Before making a contribution under paragraph (1), the President shall certify to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate that--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 is authorized to be appropriated $50,000,000 to carry out this section for fiscal year 2008. Amounts appropriated for this section are authorized to remain available until September 30, 2010.CommentsClose CommentsPermalink

SEC. 16. 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 since January 1, 2007; 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) Investment by Federal Thrift Savings Plan in Iran- 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 shall 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





(d) List of Designated Foreign Terrorist Organizations- Not later than 180 days after the date of the enactment of this Act, the Secretary of State and the Secretary of the Treasury shall report to the appropriate congressional committees on the efforts of the Secretary of State and the Secretary of the Treasury to place the Iranian Revolutionary Guards on the list of designated Foreign Terrorist Organizations under section 219 of the Immigration and Nationality Act (8 U.S.C. 1189) and the list of Specially Designated Global Terrorists under Executive Order 13224 (66 Fed. Reg. 186; relating to blocking property and prohibiting transactions with persons who commit, threaten to commit, or support terrorism).CommentsClose CommentsPermalink





(e) 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





(f) 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