Version	Word Count	Changes From Previous Version	Percent Change
Introduced in House	2,593	n/a	n/a
Reported in House	5,814	0	0%
Engrossed in House	4,946	135	72%
Referred in Senate	4,913	5	4%
Engrossed Amendment Senate	8,754	362	94%
Enrolled Bill	18,074	526 Show Changes Hide Changes	80%

Display Version Introduced in House Reported in House Engrossed in House Referred in Senate Engrossed Amendment Senate Enrolled Bill

HR 2194 EAS

In the Senate of the United States,

March 11, 2010.

Resolved, That the bill from the House of Representatives (H.R.2194CommentsClose CommentsPermalink

) entitled ‘An Act t One Hundred Eleventh Congress CommentsClose CommentsPermalink

CommentsClose CommentsPermalink

To amend the Iran Sanctions Act of 1996 to enhance United States diplomatic efforts with respect to Iran by expanding economic sanctions against Iran.CommentsClose CommentsPermalink

’, do pass with the following

AMENDMENT:

Strike all after the enacting clause and insert the following:

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.CommentsClose CommentsPermalink

(a) Short Title- This Act may be cited as the ‘Comprehensive Iran Sanctions, Accountability, and Divestment Act of 200910’.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 regarding illicit nuclear activities and violations of human rights inthe need to impose additional sanctions with respect to Iran.CommentsClose CommentsPermalink

TITLE I--SANCTIONS

Sec. 101. Definitions.CommentsClose CommentsPermalink





Sec. 102. Expansion of sanctions under the Iran Sanctions Act of 1996.CommentsClose CommentsPermalink





Sec. 103. Economic sanctions relating to Iran.CommentsClose CommentsPermalink





Sec. 104. Liability of parent companies for violations of sanctions by foreign subsidiarieMandatory sanctions with respect to financial institutions that engage in certain transactions.CommentsClose CommentsPermalink





Sec. 105. Imposition of sanctions on certain persons who are responsible for or complicit in human rights abuses committed against citizens of Iran or their family members after the June 12, 2009, elections in Iran.CommentsClose CommentsPermalink





Sec. 106. Prohibition on procurement contracts with persons that export sensitive technology to Iran.CommentsClose CommentsPermalink





Sec. 107. Harmonization of criminal penalties for violations of sanctions.CommentsClose CommentsPermalink





Sec. 1068. Authority to implement United Nations Security Council resolutions imposing sanctions with respect to Iran.CommentsClose CommentsPermalink





Sec. 109. Increased capacity for efforts to combat unlawful or terrorist financing.CommentsClose CommentsPermalink





Sec. 107. Reporting requirements10. Reports on investments in the energy sector of Iran.CommentsClose CommentsPermalink





Sec. 10811. Reports on certain activities of foreign export credit agencies and of the Export-Import Bank of the United States.CommentsClose CommentsPermalink





Sec. 112. Sense of Congress regarding the imposition of sanctions on the Central Bank of Iran.Sec. 109. Policy of the United Statesregarding Iran’s Revolutionary Guard Corps and its affiliates.CommentsClose CommentsPermalink





Sec. 110. Policy of the United States with respect to Iran and3. Sense of Congress regarding Iran and Hezbollah.CommentsClose CommentsPermalink





Sec. 1114. Sense of Congress regarding the imposition of multilateral sanctions with respect to Iran.CommentsClose CommentsPermalink





Sec. 115. Report on providing compensation for victims of international terrorism.CommentsClose CommentsPermalink

TITLE II--DIVESTMENT FROM CERTAIN COMPANIES THAT INVEST IN IRAN

Sec. 201. Definitions.CommentsClose CommentsPermalink





Sec. 202. Authority of State and local governments to divest from certain companies that invest in Iran.CommentsClose CommentsPermalink





Sec. 203. Safe harbor for changes of investment policies by asset managers.CommentsClose CommentsPermalink





Sec. 204. Sense of Congress regarding certain ERISA plan investments.CommentsClose CommentsPermalink





Sec. 205. Technical corrections to Sudan Accountability and Divestment Act of 2007.CommentsClose CommentsPermalink

TITLE III--PREVENTION OF TRANSSHIPMENT, REEXPORTATION, OR DIVERSION OF SENSITIVE ITEMCERTAIN GOODS, SERVICES, AND TECHNOLOGIES TO IRAN

Sec. 301. Definitions.CommentsClose CommentsPermalink





Sec. 302. Identification of locations of concern with respect to transshipment, reexportation, or countries of concern with respect to the diversion of certain items togoods, services, and technologies to or through Iran.CommentsClose CommentsPermalink





Sec. 303. Destinations of Possible Diversion Concern and Destinations of DiversionDiversion Concern.CommentsClose CommentsPermalink





Sec. 304. Report on expanding diversion concern system to countries other than Iranaddress the diversion of United States origin goods, services, and technologies to certain countries other than Iran.CommentsClose CommentsPermalink





Sec. 305. Enforcement authority.CommentsClose CommentsPermalink

TITLE IV--EFFECTIVE DATE; SUNSETGENERAL PROVISIONS

Sec. 401. Effective date; sunsetGeneral provisions.CommentsClose CommentsPermalink





Sec. 402. Determination of budgetary effects.CommentsClose CommentsPermalink

SEC. 2. FINDINGS.CommentsClose CommentsPermalink

Congress makes the following findings:CommentsClose CommentsPermalink





(1) The illicit nuclear activities of the Government of Iran and its support for international terrorism represent threats, combined with its development of unconventional weapons and ballistic missiles and its support for international terrorism, represent a threat to the security of the United States, its strong ally Israel, and other allies of the United States around the world.CommentsClose CommentsPermalink





(2) The United States and other responsible countries have a vital interest in working together to prevent the Government of Iran from acquiring a nuclear weapons capability.CommentsClose CommentsPermalink





(3) The International Atomic Energy Agency has repeatedly called attention to Iran’s illicit nuclear activities and, as a result, the United Nations Security Council has adopted a range of sanctions designed to encourage the Government of Iran to ceasesuspend those activities and comply with its obligations under the Treaty on the Non-Proliferation of Nuclear Weapons, done at Washington, London, and Moscow July 1, 1968, and entered into force March 5, 1970 (commonly known as the ‘Nuclear Non-Proliferation Treaty’).CommentsClose CommentsPermalink





(4) The serious and urgent nature of the threat from Iran demands that the United States work together with its allies to do everything possible--diplomatically, politically, and economically--to prevent Iran from acquiring a nuclear weapons capability.CommentsClose CommentsPermalink





(5) The United States and its major European allies, including the United Kingdom, France, and Germany, have advocated that sanctions be strengthened should international diplomatic efforts fail to achieve verifiable suspension of Iran’s uranium enrichment program and an end to its illicit nuclear activities.(6nuclear weapons program and other illicit nuclear activities.CommentsClose CommentsPermalink





(6) The Government of Iran continues to engage in serious, systematic, and ongoing violations of human rights, including suppression of freedom of expression and religious freedom, illegitimately prolonged detention, torture, and executions. Such violations have increased in the aftermath of the fraudulent presidential election in Iran on June 12, 2009.CommentsClose CommentsPermalink





(7) The Government of Iran has been unresponsive to President Obama’s unprecedented and serious efforts at engagement, revealing that the Government of Iran is not interested in a diplomatic resolution, as made clear, for example, by the following:CommentsClose CommentsPermalink





(A) Iran’s apparent rejection of the Tehran Research Reactor plan, generously offered by the United States and its partners, of potentially great benefit to the people of Iran, and endorsed by Iran’s own negotiators in October 2009.CommentsClose CommentsPermalink





(B) Iran’s ongoing clandestine nuclear program, as evidenced by its work on the secret uranium enrichment facility at Qom, its subsequent refusal to cooperate fully with inspectors from the International Atomic Energy Agency, and its announcement that it would build 10 new uranium enrichment facilities.CommentsClose CommentsPermalink





(C) Iran’s official notification to the International Atomic Energy Agency that it would enrich uranium to the 20 percent level, followed soon thereafter by its providing to that Agency a laboratory result showing that Iran had indeed enriched some uranium to 19.8 percent.CommentsClose CommentsPermalink





(D) A February 18, 2010, report by the International Atomic Energy Agency expressing ‘concerns about the possible existence in Iran of past or current undisclosed activities related to the development of a nuclear payload for a missile. These alleged activities consist of a number of projects and sub-projects, covering nuclear and missile related aspects, run by military-related organizations.’.CommentsClose CommentsPermalink





(E) A May 31, 2010, report by the International Atomic Energy Agency expressing continuing strong concerns about Iran’s lack of cooperation with the Agency’s verification efforts and Iran’s ongoing enrichment activities, which are contrary to the longstanding demands of the Agency and the United Nations Security Council.CommentsClose CommentsPermalink





(F) Iran’s announcement in April 2010 that it had developed a new, faster generation of centrifuges for enriching uranium.CommentsClose CommentsPermalink





(G) Iran’s ongoing arms exports to, and support for, terrorists in direct contravention of United Nations Security Council resolutions.CommentsClose CommentsPermalink





(H) Iran’s July 31, 2009, arrest of 3 young citizens of the United States on spying charges.CommentsClose CommentsPermalink





(8) There is an increasing interest by State governments, local governments, educational institutions, and private institutions to seek, business firms, and other investors to disassociate themselves from companies that conduct business activities in the energy sector of Iran, since such business activities may directly or indirectly support the efforts of the Government of Iran to achieve a nuclear weapons capability.CommentsClose CommentsPermalink





(79) Black market proliferation networks continue to flourish in the Middle East, allowing countries like Iran to gain access to sensitive dual-use technologies.CommentsClose CommentsPermalink





(8) The Government of Iran continues to engage in serious, systematic, and ongoing violations of human rights and religious freedom, including illegitimate prolonged detention, torture, and executions. Such violations have increased in the aftermath of the presidential election in Iran on June 12, 200910) Economic sanctions imposed pursuant to the provisions of this Act, the Iran Sanctions Act of 1996, as amended by this Act, and the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), and other authorities available to the United States to impose economic sanctions to prevent Iran from developing nuclear weapons, are necessary to protect the essential security interests of the United States.CommentsClose CommentsPermalink

SEC. 3. SENSE OF CONGRESS REGARDING ILLICIT NUCLEAR ACTIVITIES AND VIOLATIONS OF HUMAN RIGHTS INTHE NEED TO IMPOSE ADDITIONAL SANCTIONS WITH RESPECT TO IRAN.CommentsClose CommentsPermalink

It is the sense of Congress that--CommentsClose CommentsPermalink





(1) international diplomatic efforts to address Iran’s illicit nuclear efforts and support for international terrorism are more likely to be effective if the President is empowered with the explicit authority to impose additional sanctions on the Government of Iran;(2) strong additional sanctions are imposed on the Government of Iran;CommentsClose CommentsPermalink





(2) the concerns of the United States regarding Iran are strictly the result of the actions of the Government of Iran;CommentsClose CommentsPermalink





(3) the revelation in September 2009 that Iran is developing a secret uranium enrichment site on a base of Iran’s Revolutionary Guard Corps near Qom, which appears to have no civilian application, highlights the urgency that Iran--CommentsClose CommentsPermalink





(A) disclose the full nature of its nuclear program, including any other secret locations; andCommentsClose CommentsPermalink





(B) provide the International Atomic Energy Agency unfettered access to its facilities pursuant to Iran’s legal obligations under the Treaty on the Non-Proliferation of Nuclear Weapons, done at Washington, London, and Moscow July 1, 1968, and entered into force March 5, 1970 (commonly known as the ‘Nuclear Non-Proliferation Treaty’) and Iran’s safeguards agreement with the International Atomic Energy Agency;CommentsClose CommentsPermalink





(4) because of the involvement of Iran’s Revolutionary Guard Corps in Iran’s nuclear program, international terrorism, and domestic human rights abuses, the President should impose the full range of applicable sanctions on--CommentsClose CommentsPermalink





(A) any individual or entity that is an agent, alias, front, instrumentality, representative, official, or affiliate of Iran’s Revolutionary Guard Corps; andCommentsClose CommentsPermalink





(B) any individual or entity that has conducted any commercial transaction or financial transaction with an individual or entity described in subparagraph (A);CommentsClose CommentsPermalink





(5) additional measures should be adopted by the United States to prevent the diversion and transshipment of sensitive dual-use technologies to Iran;CommentsClose CommentsPermalink





(3) the concerns of the United States regarding Iran are strictly the result of the actions of the Government of Iran;

(4) the people of the United States--

(A) have a long history of friendship and exchange with the people of Iran;

(B) regret that developments in recent decades have created impediments to that friendship;

(C) hold the people of Iran, their culture, and their ancient and rich history in the highest esteem; and

(D) remain deeply concerned about continuing human rights abuses in Iran;

(56) the President should--CommentsClose CommentsPermalink




(A) continue to pressurge the Government of Iran to respect the internationally recognized human rights and religious freedoms of its citizens;CommentsClose CommentsPermalink





(B) identify the officials of the Government of Iran that areand other individuals who are responsible for continuing and severe violations of human rights and religious freedom in Iran; andCommentsClose CommentsPermalink





(C) take appropriate measures to respond to such violations, including by--CommentsClose CommentsPermalink





(i) prohibiting officials the President and other individuals the President identifies as being responsible for such violations from entry into the United States; andCommentsClose CommentsPermalink





(ii) freezing the assets of those officials; and(6e officials and other individuals described in clause (i);CommentsClose CommentsPermalink





(7) additional funding should be provided to the Secretary of State to document, collect, and disseminate information about human rights abuses in Iran, including serious abuses that have taken place since the presidential election in Iran conducted on June 12, 2009;CommentsClose CommentsPermalink





(8) with respect to nongovernmental organizations based in the United States--CommentsClose CommentsPermalink





(A) many of such organizations are essential to promoting human rights and humanitarian goals around the world;CommentsClose CommentsPermalink





(B) it is in the national interest of the United States to allow responsible nongovernmental organizations based in the United States to establish and carry out operations in Iran to promote civil society and foster humanitarian goodwill among the people of Iran; andCommentsClose CommentsPermalink





(C) the United States should ensure that the organizations described in subparagraph (B) are not unnecessarily hindered from working in Iran to provide humanitarian, human rights, and people-to-people assistance, as appropriate, to the people of Iran;CommentsClose CommentsPermalink





(9) the United States should not issue a license pursuant to an agreement for cooperation (as defined in section 11 b. of the Atomic Energy Act of 1954 (42 U.S.C. 2014(b))) for the export of nuclear material, facilities, components, or other goods, services, or technology that are or would be subject to such an agreement to a country that is providing similar nuclear material, facilities, components, or other goods, services, or technology to another country that is not in full compliance with its obligations under the Nuclear Non-Proliferation Treaty, including its obligations under the safeguards agreement between that country and the International Atomic Energy Agency, unless the President determines that the provision of such similar nuclear material, facilities, components, or other goods, services, or technology to such other country does not undermine the nonproliferation policies and objectives of the United States; andCommentsClose CommentsPermalink





(10) the people of the United States--CommentsClose CommentsPermalink





(A) have feelings of friendship for the people of Iran;CommentsClose CommentsPermalink





(B) regret that developments in recent decades have created impediments to that friendship; andCommentsClose CommentsPermalink





(C) hold the people of Iran, their culture, and their ancient and rich history in the highest esteem.CommentsClose CommentsPermalink

TITLE I--SANCTIONSCommentsClose CommentsPermalink

SEC. 101. DEFINITIONS.CommentsClose CommentsPermalink

In this title: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), as amended by section 102 of this Act.CommentsClose CommentsPermalink





(3) EXECUTIVE AGENCY- The term ‘executive agency’ has the meaning given that 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, thea spouse, children, grandchildren, or parents, parent, sibling, grandchild, or grandparent of the individual.CommentsClose CommentsPermalink





(5) INFORMATION AND INFORMATIONAL MATERIALS- The term ‘information and informational materials’ includes publications, films, posters, phonograph records, photographs, microfilms, microfiche, tapes, compact disks, CD ROMs, artworks, and news wire feeds.

(6) 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).

(7) IRANIAN DIPLOMATS AND REPRESENTATIVES OF OTHER GOVERNMENT AND MILITARY OR QUASI-GOVERNMENTAL INSTITUTIONS OF IRAN- The term ‘Iranian diplomat or representative of another government or military or quasi-governmental institution of Iran’ means any of the 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) (as that term is defined in section 14 of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note).(8).CommentsClose CommentsPermalink




(6) KNOWINGLY- The term ‘knowingly’, with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result.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





(98) 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





(9) STATE- The term ‘State’ means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands, and any other territory or possession of the United States.CommentsClose CommentsPermalink





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





(A) a natural person who is a citizen or resident of the United States or a national of the United States (as defined in section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a)); andCommentsClose CommentsPermalink





(B) an entity that is organized under the laws of the United States or any State.CommentsClose CommentsPermalink

SEC. 102. EXPANSION OF SANCTIONS UNDER THE IRAN SANCTIONS ACT OF 1996.CommentsClose CommentsPermalink

(a) In General- Section 5 of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) is amended--CommentsClose CommentsPermalink





(1) by striking subsection (a) and inserting the following:CommentsClose CommentsPermalink





‘(a) Sanctions With Respect to the Development of Petroleum Resources of Iran, Production of Refined Petroleum Products in Iran, and Exportation of Refined Petroleum Products to Iran-CommentsClose CommentsPermalink





‘(1) DEVELOPMENT OF PETROLEUM RESOURCES OF IRAN-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Except as provided in subsection (f), the President shall impose 2 or more of the sanctions described in paragraphs (1) through (6) of3 or more of the sanctions described in section 6(a) with respect to a person if the President determines that the person, with actual knowledge, on or after the effective date knowingly, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 200910--CommentsClose CommentsPermalink





‘(i) makes an investment described in subparagraph (B) of $20,000,000 or more; orCommentsClose CommentsPermalink





‘(ii) makes a combination of investments described in subparagraph (B) in a 12-month period if each such investment is of at least $5,000,000 and such investments equal or exceed $20,000,000 in the aggregate.CommentsClose CommentsPermalink





‘(B) INVESTMENT DESCRIBED- An investment described in this subparagraph is an investment that directly and significantly contributes to the enhancement of Iran’s ability to develop petroleum resources.CommentsClose CommentsPermalink





‘(2) PRODUCTION OF REFINED PETROLEUM PRODUCTS-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Except as provided in subsection (f), the President shall impose the sanctions described in section 6(b) (in addition to any other sanctions imposed under this subsection) with respect to a person if the President determines that the person, with actual knowledge, on or after the effective date3 or more of the sanctions described in section 6(a) with respect to a person if the President determines that the person knowingly, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 200910, sells, leases, or provides to Iran any goods, services, goods, services, technology, information, or support described in subparagraph (B)--CommentsClose CommentsPermalink





‘(i) any of which has a fair market value of $21,000,000 or more; orCommentsClose CommentsPermalink





‘(ii) that, during a 12-month period, have an aggregate fair market value of $15,000,000 or more.CommentsClose CommentsPermalink





‘(B) GOODS, SERVICES, TECHNOLOGY, INFORMATION, OR SUPPORT DESCRIBED- Goods, services, technology, information, or support described in this subparagraph are goods, services, technology, information, or support that could directly and significantly facilitate the maintenance or expansion of Iran’s domestic production of refined petroleum products, including any direct and significant assistance with respect to the construction, modernization, or repair of petroleum refineries.CommentsClose CommentsPermalink





‘(3) EXPORTATION OF REFINED PETROLEUM PRODUCTS TO IRAN-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Except as provided in subsection (f), the President shall impose the sanctions described in section 6(b) (in addition to any other sanctions imposed under this subsection) with respect to a person if the President determines that the person, with actual knowledge, on or after the effective date3 or more of the sanctions described in section 6(a) with respect to a person if the President determines that the person knowingly, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 200910--CommentsClose CommentsPermalink





‘(i) provides Iran withsells or provides to Iran refined petroleum products--CommentsClose CommentsPermalink





‘(I) that have a fair market value of $21,000,000 or more; orCommentsClose CommentsPermalink





‘(II) that, during a 12-month period, have an aggregate fair market value of $15,000,000 or more; orCommentsClose CommentsPermalink





‘(ii) sells, leases, or provides to Iran any goods, services, goods, services, technology, information, or support described in subparagraph (B)--CommentsClose CommentsPermalink





‘(I) any of which has a fair market value of $21,000,000 or more; orCommentsClose CommentsPermalink





‘(II) that, during a 12-month period, have an aggregate fair market value of $15,000,000 or more.CommentsClose CommentsPermalink





‘(B) GOODS, SERVICES, TECHNOLOGY, INFORMATION, OR SUPPORT DESCRIBED- Goods, services, technology, information, or support described in this subparagraph are goods, services, technology, information, or support that could directly and significantly contribute to the enhancement of Iran’s ability to import refined petroleum products, including--CommentsClose CommentsPermalink





‘(i) except as provided in subparagraph (C), underwriting or otherwise providingentering into a contract to provide insurance or reinsurance for the sale, lease, or provision of such goods, services, technology, information, or support;CommentsClose CommentsPermalink





‘(ii) financing or brokering such sale, lease, or provision; orCommentsClose CommentsPermalink





‘(iii) providing ships or shipping services to deliver refined petroleum products to Iran.CommentsClose CommentsPermalink





‘(C) EXCEPTION FOR UNDERWRITERS AND INSURANCE PROVIDERS EXERCISING DUE DILIGENCE- The President may not impose sanctions under this paragraph with respect to a person that provides underwriting services or insurance or reinsurance if the President determines that the person has exercised due diligence in establishing and enforcing official policies, procedures, and controls to ensure that the person does not underwrite or enter into a contract to provide insurance or reinsurance for the sale, lease, or provision of goods, services, technology, information, or support described in subparagraph (B).’;CommentsClose CommentsPermalink





(2) in subsection (b)--CommentsClose CommentsPermalink





(A) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively, and moving such subparagraphs, as so redesignated, 2 ems to the right;CommentsClose CommentsPermalink





(B) by striking ‘The President shall impose’ and inserting the following:CommentsClose CommentsPermalink





‘(1) IN GENERAL- The President shall impose’; andCommentsClose CommentsPermalink





(C) in paragraph (1), as redesignated by subparagraph (B) of this paragraph, by striking ‘two or more’ and all that follows through ‘of this Act’ and inserting ‘3 or more of the sanctions described in section 6(a) if the President determines that a person has, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010’; andCommentsClose CommentsPermalink





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





‘(2) ADDITIONAL MANDATORY SANCTIONS RELATING TO TRANSFER OF NUCLEAR TECHNOLOGY-CommentsClose CommentsPermalink





‘(A) IN GENERAL- Except as provided in subparagraphs (B) and (C), in any case in which a person is subject to sanctions under paragraph (1) because of an activity described in that paragraph that relates to the acquisition or development of nuclear weapons or related technology or of missiles or advanced conventional weapons that are designed or modified to deliver a nuclear weapon, no license may be issued for the export, and no approval may be given for the transfer or retransfer, directly or indirectly, to the country the government of which has primary jurisdiction over the person, of any nuclear material, facilities, components, or other goods, services, or technology that are or would be subject to an agreement for cooperation between the United States and that government.CommentsClose CommentsPermalink





‘(B) EXCEPTION- The sanctions described in subparagraph (A) shall not apply with respect to a country the government of which has primary jurisdiction over a person that engages in an activity described in that subparagraph if the President determines and notifies the appropriate congressional committees that the government of the country--CommentsClose CommentsPermalink





‘(i) does not know or have reason to know about the activity; orCommentsClose CommentsPermalink





‘(ii) has taken, or is taking, all reasonable steps necessary to prevent a recurrence of the activity and to penalize the person for the activity.CommentsClose CommentsPermalink





‘(C) INDIVIDUAL APPROVAL- Notwithstanding subparagraph (A), the President may, on a case-by-case basis, approve the issuance of a license for the export, or approve the transfer or retransfer, of any nuclear material, facilities, components, or other goods, services, or technology that are or would be subject to an agreement for cooperation, to a person in a country to which subparagraph (A) applies (other than a person that is subject to the sanctions under paragraph (1)) if the President--CommentsClose CommentsPermalink





‘(i) determines that such approval is vital to the national security interests of the United States; andCommentsClose CommentsPermalink





‘(ii) not later than 15 days before issuing such license or approving such transfer or retransfer, submits to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate the justification for approving such license, transfer, or retransfer.CommentsClose CommentsPermalink





‘(D) CONSTRUCTION- The restrictions in subparagraph (A) shall apply in addition to all other applicable procedures, requirements, and restrictions contained in the Atomic Energy Act of 1954 and other related laws.CommentsClose CommentsPermalink





‘(E) DEFINITION- In this paragraph, the term ‘agreement for cooperation’ has the meaning given that term in section 11 b. of the Atomic Energy Act of 1954 (42 U.S.C. 2014(b)).CommentsClose CommentsPermalink





‘(F) APPLICABILITY- The sanctions under subparagraph (A) shall apply only in a case in which a person is subject to sanctions under paragraph (1) because of an activity described in that paragraph in which the person engages on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010.’;CommentsClose CommentsPermalink





(3) in subsection (c)--CommentsClose CommentsPermalink





(A) by striking ‘(b)’ each place it appears and inserting ‘(b)(1)’; andCommentsClose CommentsPermalink





(B) by striking paragraph (2) and inserting the following:CommentsClose CommentsPermalink





‘(2) any person that--CommentsClose CommentsPermalink





‘(A) is a successor entity to the person referred to in paragraph (1);CommentsClose CommentsPermalink





‘(B) owns or controls the person referred to in paragraph (1), if the person that owns or controls the person referred to in paragraph (1) had actual knowledge or should have known that the person referred to in paragraph (1) engaged in the activities referred to in that paragraph; orCommentsClose CommentsPermalink





‘(C) is owned or controlled by, or under common ownership or control with, the person referred to in paragraph (1), if the person owned or controlled by, or under common ownership or control with (as the case may be), the person referred to in paragraph (1) knowingly engaged in the activities referred to in that paragraph.’; andCommentsClose CommentsPermalink





(4) in subsection (f)--CommentsClose CommentsPermalink





(A) in the matter preceding paragraph (1), by striking ‘(b)’ and inserting ‘(b)(1)’; andCommentsClose CommentsPermalink





(B) in paragraph (2), by striking ‘section 301(b)(1) of that Act (19 U.S.C. 2511(b)(1))’ and inserting ‘section 301(b) of that Act (19 U.S.C. 2511(b))’.CommentsClose CommentsPermalink





(b) Description of Sanctions- Section 6 of such Act is amended--CommentsClose CommentsPermalink





(1) by striking ‘The sanctions to be imposed on a sanctioned person under section 5 are as follows:’ and inserting the ’ and inserting the following:CommentsClose CommentsPermalink





‘(a) In General- The sanctions to be imposed on a sanctioned person under subsections (a)(1) and (b) of section 5 are as follows:’; and

(2) by adding at the end the following:

‘(b) Additional Sanctions- The sanctions to be imposed on a sanctioned person under paragraphs (2) and (3) of section 5(a) are as follows:

‘(1’;CommentsClose CommentsPermalink





(2) in subsection (a), as redesignated by paragraph (1)--CommentsClose CommentsPermalink





(A) by redesignating paragraph (6) as paragraph (9); andCommentsClose CommentsPermalink





(B) by inserting after paragraph (5) the following:CommentsClose CommentsPermalink





‘(6) FOREIGN EXCHANGE- The President shallmay, pursuant to such regulations as the President may prescribe, prohibit any transactions in foreign exchange by the sanctioned person.‘(2that are subject to the jurisdiction of the United States and in which the sanctioned person has any interest.CommentsClose CommentsPermalink





‘(7) BANKING TRANSACTIONS- The President shallmay, pursuant to such regulations as the President may prescribe, prohibit any transfers of credit or payments between, financial institutions or by, through, or to any financial institution, to the extent that such transfers or payments are subject to the jurisdiction of the United States and involve any interest of the sanctioned person.CommentsClose CommentsPermalink





‘(38) PROPERTY TRANSACTIONS- The President shall, pursuant to such regulations as the President may prescribe and subject to the jurisdiction of the United Statesmay, pursuant to such regulations as the President may prescribe, prohibit any person from--CommentsClose CommentsPermalink





‘(A) acquiring, holding, withholding, using, transferring, withdrawing, transporting, importing, or exporting any property that is subject to the jurisdiction of the United States and with respect to which the sanctioned person has any interest;CommentsClose CommentsPermalink





‘(B) dealing in or exercising any right, power, or privilege with respect to such property; orCommentsClose CommentsPermalink





‘(C) conducting any transactions involving such property.’; andCommentsClose CommentsPermalink





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





‘(b) Additional Measure Relating to Government Contracts-CommentsClose CommentsPermalink





‘(1) MODIFICATION OF FEDERAL ACQUISITION REGULATION- Not later than 90 days after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, the Federal Acquisition Regulation issued pursuant to section 25 of the Office of Federal Procurement Policy Act (41 U.S.C. 421) shall be revised to require a certification from each person that is a prospective contractor that the person, and any person owned or controlled by the person, does not engage in any activity for which sanctions may be imposed under section 5.CommentsClose CommentsPermalink





‘(2) REMEDIES-CommentsClose CommentsPermalink





‘(A) IN GENERAL- If the head of an executive agency determines that a person has submitted a false certification under paragraph (1) on or after the date on which the revision of the Federal Acquisition Regulation required by this subsection becomes effective, the head of that executive agency shall terminate a contract with such person or debar or suspend such person from eligibility for Federal contracts for a period of not more than 3 years. Any such debarment or suspension shall be subject to the procedures that apply to debarment and suspension under the Federal Acquisition Regulation under subpart 9.4 of part 9 of title 48, Code of Federal Regulations.CommentsClose CommentsPermalink





‘(B) INCLUSION ON LIST OF PARTIES EXCLUDED FROM FEDERAL PROCUREMENT AND NONPROCUREMENT PROGRAMS- The Administrator of General Services shall include on the List of Parties Excluded from Federal Procurement and Nonprocurement Programs maintained by the Administrator under part 9 of the Federal Acquisition Regulation issued pursuant to section 25 of the Office of Federal Procurement Policy Act (41 U.S.C. 421) each person that is debarred, suspended, or proposed for debarment or suspension by the head of an executive agency on the basis of a determination of a false certification under subparagraph (A).CommentsClose CommentsPermalink





‘(3) CLARIFICATION REGARDING CERTAIN PRODUCTS- The remedies set forth in paragraph (2) shall not apply with respect to the procurement of eligible products, as defined in section 308(4) of the Trade Agreements Act of 1974 (19 U.S.C. 2518(4)), of any foreign country or instrumentality designated under section 301(b) of that Act (19 U.S.C. 2511(b)).CommentsClose CommentsPermalink





‘(4) RULE OF CONSTRUCTION- This subsection shall not be construed to limit the use of other remedies available to the head of an executive agency or any other official of the Federal Government on the basis of a determination of a false certification under paragraph (1).CommentsClose CommentsPermalink





‘(5) WAIVERS- The President may on a case-by-case basis waive the requirement that a person make a certification under paragraph (1) if the President determines and certifies in writing to the appropriate congressional committees, the Committee on Armed Services of the Senate, and the Committee on Armed Services of the House of Representatives, that it is in the national interest of the United States to do so.CommentsClose CommentsPermalink





‘(6) EXECUTIVE AGENCY DEFINED- In this subsection, the term ‘executive agency’ has the meaning given that term in section 4 of the Office of Federal Procurement Policy Act (41 U.S.C. 403).CommentsClose CommentsPermalink





‘(7) APPLICABILITY- The revisions to the Federal Acquisition Regulation required under paragraph (1) shall apply with respect to contracts for which solicitations are issued on or after the date that is 90 days after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010.’.CommentsClose CommentsPermalink





(c) Report Relating to Presidential Waiver- Section 9(c)(2) of such Act is amended of such Act is amended--CommentsClose CommentsPermalink





(1) in subsection (a), by striking ‘5(b)’ each place it appears and inserting ‘5(b)(1)’; andCommentsClose CommentsPermalink





(2) in subsection (c)--CommentsClose CommentsPermalink





(A) by striking ‘section 5(a) or (b)’ each place it appears and inserting ‘section 5(a) or 5(b)(1)’;CommentsClose CommentsPermalink





(B) in paragraph (1), by striking ‘important to the national interest’ and inserting ‘necessary to the national interest’; andCommentsClose CommentsPermalink





(C) in paragraph (2), by striking subparagraph (C) and inserting the following:CommentsClose CommentsPermalink





‘(C) an estimate of the significance of the conduct of the person in contributing to the ability of Iran to, as the case may be--CommentsClose CommentsPermalink





‘(i) develop petroleum resources, produce refined petroleum products, or import refined petroleum products; orCommentsClose CommentsPermalink





‘(ii) acquire or develop--CommentsClose CommentsPermalink





‘(I) chemical, biological, or nuclear weapons or related technologies; orCommentsClose CommentsPermalink





‘(II) destabilizing numbers and types of advanced conventional weapons; and’.CommentsClose CommentsPermalink





(d) Reports on Global Trade Relating to Iran- Section 10 of such Act is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(d) Reports on Global Trade Relating to Iran- Not later than 90 days after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, and annually thereafter, the President shall submit to the appropriate congressional committees a report, with respect to the most recent 12-month period for which data are available, on the dollar value amount of trade, including in the energy sector, between Iran and each country maintaining membership in the Group of 20 Finance Ministers and Central Bank Governors.’.CommentsClose CommentsPermalink





(e) Extension of Iran Sanctions Act of 1996- Section 13(b) of such Act is amended by striking ‘December 31, 2011’ and inserting ‘December 31, 2016’.CommentsClose CommentsPermalink





(f) Clarification and Expansion of Definitions- Section 14 of such Act is amended--CommentsClose CommentsPermalink





(1) in paragraph (13)(B)2), by striking ‘the Committee on Banking and Financial Services, and the Committee on International Relations’ and inserting ‘the Committee on Financial Services, and the Committee on Foreign Affairs’;CommentsClose CommentsPermalink





(2) in paragraph (9), in the flush text following subparagraph (C), by striking ‘The term ‘investment’ does not include’ and all that follows through ‘technology.’;CommentsClose CommentsPermalink





(3) by redesignating paragraphs (12), (13), (14), (15), and (16) as paragraphs (13), (14), (15), (17), and (18), respectively;CommentsClose CommentsPermalink





(4) by inserting after paragraph (11) the following:CommentsClose CommentsPermalink





‘(12) KNOWINGLY- The term ‘knowingly’, with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result.’;CommentsClose CommentsPermalink





(5) in paragraph (14), as redesignated by paragraph (3) of this subsection--CommentsClose CommentsPermalink





(A) by redesignating subparagraphs (A), (B), and (C) as clauses (i), (ii), and (iii), respectively, and moving such clauses, as so redesignated, 2 ems to the right;CommentsClose CommentsPermalink





(B) by striking ‘The term ‘person’ means--’ and inserting the following:CommentsClose CommentsPermalink





‘(A) IN GENERAL- The term ‘person’ means--’;CommentsClose CommentsPermalink





(C) in subparagraph (A), as redesignated by this paragraph--CommentsClose CommentsPermalink





(i) in clause (ii), by inserting ‘financial institution, insurer, underwriter, guarantor, and any other business organization, including any foreign subsidiary, parent, or affiliate thereof,’ after ‘trust,’; andCommentsClose CommentsPermalink





(B) by inserting ‘, such as an export credit agency’ before the semicolon at the end;(2) in paragraph (14)ii) in clause (iii), by striking ‘subparagraph (B)’ and inserting ‘clause (ii)’; andCommentsClose CommentsPermalink





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





‘(B) APPLICATION TO GOVERNMENTAL ENTITIES- The term ‘person’ does not include a government or governmental entity that is not operating as a business enterprise.’;CommentsClose CommentsPermalink





(6) in paragraph (15), as redesignated by paragraph (3) of this subsection, by striking ‘petroleum and natural gas resources’ and inserting ‘petroleum, refined petroleum products, oil or liquefied natural gas, natural gas resources, oil or liquefied natural gas tankers, and products used to construct or maintain pipelines used to transport oil or liquefied natural gas’;

(3) by redesignating paragraphs (15) and (16) as paragraphs (16) and (17), respectively; and

(4) by inserting after paragraph (14) the following:

‘(15 andCommentsClose CommentsPermalink




(7) by inserting after paragraph (15), as so redesignated, the following:CommentsClose CommentsPermalink





‘(16) REFINED PETROLEUM PRODUCTS- The term ‘refined petroleum products’ means diesel, gasoline, jet fuel (including naphtha-type and kerosene-type jet fuel), and aviation gasoline.’.CommentsClose CommentsPermalink





(e)g) Waiver for Certain Persons in Certain Countries; Mandatory Investigations and Reporting; Conforming Amendments- Section 4 of such Act is amended--CommentsClose CommentsPermalink





(1) in subsection (b)(2), by striking ‘(in addition to that provided in subsection (d))’;CommentsClose CommentsPermalink





(2) by striking subsection (d); and(3in subsection (c)--CommentsClose CommentsPermalink





(A) in paragraph (1)--CommentsClose CommentsPermalink





(i) by striking ‘The President may’ and inserting the following:CommentsClose CommentsPermalink





‘(A) GENERAL WAIVER- The President may’; andCommentsClose CommentsPermalink





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





‘(B) WAIVER WITH RESPECT TO PERSONS IN COUNTRIES THAT COOPERATE IN MULTILATERAL EFFORTS WITH RESPECT TO IRAN- The President may, on a case by case basis, waive for a period of not more than 12 months the application of section 5(a) with respect to a person if the President, at least 30 days before the waiver is to take effect--CommentsClose CommentsPermalink





‘(i) certifies to the appropriate congressional committees that--CommentsClose CommentsPermalink





‘(I) the government with primary jurisdiction over the person is closely cooperating with the United States in multilateral efforts to prevent Iran from--CommentsClose CommentsPermalink

‘(aa) acquiring or developing chemical, biological, or nuclear weapons or related technologies; orCommentsClose CommentsPermalink

‘(bb) acquiring or developing destabilizing numbers and types of advanced conventional weapons; andCommentsClose CommentsPermalink

‘(II) such a waiver is vital to the national security interests of the United States; andCommentsClose CommentsPermalink





‘(ii) submits to the appropriate congressional committees a report identifying--CommentsClose CommentsPermalink





‘(I) the person with respect to which the President waives the application of sanctions; andCommentsClose CommentsPermalink





‘(II) the actions taken by the government described in clause (i)(I) to cooperate in multilateral efforts described in that clause.’; andCommentsClose CommentsPermalink





(B) by striking paragraph (2) and inserting the following:CommentsClose CommentsPermalink





‘(2) SUBSEQUENT RENEWAL OF WAIVER- At the conclusion of the period of a waiver under subparagraph (A) or (B) of paragraph (1), the President may renew the waiver--CommentsClose CommentsPermalink





‘(A) if the President determines, in accordance with subparagraph (A) or (B) of that paragraph (as the case may be), that the waiver is appropriate; andCommentsClose CommentsPermalink





‘(B)(i) in the case of a waiver under subparagraph (A) of paragraph (1), for subsequent periods of not more than six months each; andCommentsClose CommentsPermalink





‘(ii) in the case of a waiver under subparagraph (B) of paragraph (1), for subsequent periods of not more than 12 months each.’;CommentsClose CommentsPermalink





(3) by striking subsection (d);CommentsClose CommentsPermalink





(4) by redesignating subsections (e) and (f) as subsections (d) and (e), respectively; andCommentsClose CommentsPermalink





(5) in subsection (e), as redesignated by paragraph (4) of this subsection--CommentsClose CommentsPermalink





(A) in paragraph (1)--CommentsClose CommentsPermalink





(i) by striking ‘should initiate’ and inserting ‘shall initiate’; andCommentsClose CommentsPermalink





(ii) by striking ‘investment activity in Iran as’ and inserting ‘an activity’;CommentsClose CommentsPermalink





(B) in paragraph (2)--CommentsClose CommentsPermalink





(i) by striking ‘should determine’ and inserting ‘shall (unless paragraph (3) applies) determine’; andCommentsClose CommentsPermalink





(ii) by striking ‘investment activity in Iran as’ and inserting ‘an activity’; andCommentsClose CommentsPermalink





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





‘(3) SPECIAL RULE- The President need not initiate an investigation, and may terminate an investigation, under this subsection if the President certifies in writing to the appropriate congressional committees that--CommentsClose CommentsPermalink





‘(A) the person whose activity was the basis for the investigation is no longer engaging in the activity or has taken significant verifiable steps toward stopping the activity; andCommentsClose CommentsPermalink





‘(B) the President has received reliable assurances that the person will not knowingly engage in an activity described in section 5(a) in the future.’.CommentsClose CommentsPermalink





(h) Effective Date-CommentsClose CommentsPermalink





(1) IN GENERAL- The amendments made by this section shall--CommentsClose CommentsPermalink





(A) take effect on the date of the enactment of this Act; andCommentsClose CommentsPermalink





(B) except as provided in this subsection or section 6(b)(7) of the Iran Sanctions Act of 1996, as amended by subsection (b) of this section, apply with respect to an investment or activity described in subsection (a) or (b) of section 5 of the Iran Sanctions Act of 1996, as amended by this section, that is commenced on or after such date of enactment.CommentsClose CommentsPermalink





(2) APPLICABILITY TO ONGOING INVESTMENTS PROHIBITED UNDER PRIOR LAW- A person that makes an investment described in section 5(a) of the Iran Sanctions Act of 1996, as in effect on the day before the date of the enactment of this Act, that is commenced before such date of enactment and continues on or after such date of enactment, shall, except as provided in paragraph (4), be subject to the provisions of the Iran Sanctions Act of 1996, as in effect on the day before such date of enactment.CommentsClose CommentsPermalink





(3) APPLICABILITY TO ONGOING ACTIVITIES RELATING TO CHEMICAL, BIOLOGICAL, OR NUCLEAR WEAPONS OR RELATED TECHNOLOGIES- A person that, before the date of the enactment of this Act, commenced an activity described in section 5(b) of the Iran Sanctions Act of 1996, as in effect on the day before such date of enactment, and continues the activity on or after such date of enactment, shall be subject to the provisions of the Iran Sanctions Act of 1996, as amended by this Act.CommentsClose CommentsPermalink





(4) APPLICABILITY OF MANDATORY INVESTIGATIONS TO INVESTMENTS- The amendments made by subsection (g)(5) of this section shall apply on and after the date of the enactment of this Act--CommentsClose CommentsPermalink





(A) with respect to an investment described in section 5(a)(1) of the Iran Sanctions Act of 1996, as amended by subsection (a) of this section, that is commenced on or after such date of enactment; andCommentsClose CommentsPermalink





(B) with respect to an investment described in section 5(a) of the Iran Sanctions Act of 1996, as in effect on the day before the date of the enactment of this Act, that is commenced before such date of enactment and continues on or after such date of enactment.CommentsClose CommentsPermalink





(5) APPLICABILITY OF MANDATORY INVESTIGATIONS TO ACTIVITIES RELATING TO PETROLEUM-CommentsClose CommentsPermalink





(A) IN GENERAL- Except as provided in subparagraph (B), the amendments made by subsection (g)(5) of this section shall apply on and after the date that is 1 year after the date of the enactment of this Act with respect to an activity described in paragraph (2) or (3) of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection (a) of this section, that is commenced on or after the date that is 1 year after the date of the enactment of this Act or the date on which the President fails to submit a certification that is required under subparagraph (B) (whichever is applicable).CommentsClose CommentsPermalink





(B) SPECIAL RULE FOR DELAY OF EFFECTIVE DATE-CommentsClose CommentsPermalink





(i) REPORTING REQUIREMENT- Not later than 30 days before the date that is 1 year after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a report describing--CommentsClose CommentsPermalink





(I) the diplomatic and other efforts of the President--CommentsClose CommentsPermalink

(II) not later than 45 days after the date on which the certification was required to be submitted by this subparagraph, the President shall make a determination under paragraph (2) or (3) of section 5(a) of the Iran Sanctions Act of 1996 (as the case may be), as amended by subsection (a) of this section, with respect to relevant activities described in subclause (I)(aa).CommentsClose CommentsPermalink





(C) APPLICABILITY OF PERMISSIVE INVESTIGATIONS- During the 1-year period beginning on the date of the enactment of this Act and during any 180-day period during which the effective date provided for in subparagraph (A) is delayed pursuant to subparagraph (B), section 4(e) of the Iran Sanctions Act of 1996, as amended by subsection (g)(5) of this section, shall be applied, with respect to an activity described in paragraph (2) or (3) of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection (a) of this section, by substituting ‘should’ for ‘shall’ each place it appears.CommentsClose CommentsPermalink





(6) WAIVER AUTHORITY- The amendments made by subsection (c) shall not be construed to affect any exercise of the authority under section 9(c) of the Iran Sanctions Act of 1996, as in effect on the day before the date of the enactment of this Act.CommentsClose CommentsPermalink

SEC. 103. ECONOMIC SANCTIONS RELATING TO IRAN.CommentsClose CommentsPermalink

(a) In General- Notwithstanding any other provision of lawsection 101 of the Iran Freedom Support Act (Public Law 109-293; 120 Stat. 1344), and in addition to any other sanction in effect, beginning on the date that is 15 days after the effective date90 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-CommentsClose CommentsPermalink





(A) IN GENERAL- Except as provided in subparagraph (B), no articlgood or service of Iranian origin may be imported directly or indirectly into the United States.CommentsClose CommentsPermalink





(B) EXCEPTION- The prohibition in subparagraph (A) does not apply to imports from Iran ofS- The exceptions provided for in section 203(b) of the International Emergency Economic Powers Act (50 U.S.C. 1702(b)), including the exception for information and informational materials, shall apply to the prohibition in subparagraph (A) of this paragraph to the same extent that such exceptions apply to the authority provided under section 203(a) of that Act.CommentsClose CommentsPermalink





(2) PROHIBITION ON EXPORTS-CommentsClose CommentsPermalink





(A) IN GENERAL- Except as provided in subparagraph (B), no articlegood, service, or technology of United States origin may be exported directly or indirectly to Iranto Iran from the United States or by a United States person, wherever located.CommentsClose CommentsPermalink





(B) EXCEPTIONS-CommentsClose CommentsPermalink





T(i) PERSONAL COMMUNICATIONS; ARTICLES TO RELIEVE HUMAN SUFFERING; INFORMATION AND INFORMATIONAL MATERIALS; TRANSACTIONS INCIDENT TO TRAVEL- The exceptions provided for in section 203(b) of the International Emergency Economic Powers Act (50 U.S.C. 1702(b)), including the exception for information and informational materials, shall apply to the prohibition in subparagraph (A) does not apply to exports to Iran of--(iof this paragraph to the same extent that such exceptions apply to the authority provided under section 203(a) of that Act.CommentsClose CommentsPermalink





(ii) FOOD; MEDICINE; HUMANITARIAN ASSISTANCE- The prohibition in subparagraph (A) shall not apply to the exportation of--CommentsClose CommentsPermalink





(I) agricultural commodities, food, medicine, or medical devices;(ii orCommentsClose CommentsPermalink





(II) articles exported to Iran to provide humanitarian assistance to the people of Iran;

(iii) except as provided in subparagraph (C), information or informational materials;

(iv).CommentsClose CommentsPermalink




(iii) INTERNET COMMUNICATIONS- The prohibition in subparagraph (A) shall not apply to the exportation of--CommentsClose CommentsPermalink





(I) services incident to the exchange of personal communications over the Internet or software necessary to enable such services, as provided for in section 560.540 of title 31, Code of Federal Regulations (or any corresponding similar regulation or ruling);CommentsClose CommentsPermalink





(II) hardware necessary to enable such services; orCommentsClose CommentsPermalink





(III) hardware, software, or technology necessary for access to the Internet.CommentsClose CommentsPermalink





(iv) GOODS, SERVICES, OR TECHNOLOGIES NECESSARY TO ENSURE THE SAFE OPERATION OF COMMERCIAL AIRCRAFT- The prohibition in subparagraph (A) shall not apply to the exportation of goods, services, or technologies necessary to ensure the safe operation of commercial passenger aircraft produced in the United States or commercial aircraft into which aircraft components produced in the United States are incorporated, if the exportation of such goods, services, or technologies is approved by the Secretary of the Treasury, in consultation with the Secretary of Commerce, pursuant to regulations promulgated by the Secretaryissued by the Secretary of the Treasury regarding the exportation of such goods, services, or technologies, if appropriate; or(v) goods, services, or technologies that--(I) are provided to the International , if appropriate.CommentsClose CommentsPermalink





(v) GOODS, SERVICES, OR TECHNOLOGIES EXPORTED TO SUPPORT INTERNATIONAL ORGANIZATIONS- The prohibition in subparagraph (A) shall not apply to the exportation of goods, services, or technologies that--CommentsClose CommentsPermalink





(I) are provided to the International Atomic Energy Agency and are necessary to support activities of that Agency in Iran; orCommentsClose CommentsPermalink





(II) are necessary to support activities, including the activities of nongovernmental organizations, relating to promoting democracy in Iran; or(III) the President determines to be necessary to.CommentsClose CommentsPermalink





(vi) EXPORTS IN THE NATIONAL INTEREST- The prohibition in subparagraph (A) shall not apply to the exportation of goods, services, or technologies if the President determines the exportation of such goods, services, or technologies to be in the national interest of the United States.CommentsClose CommentsPermalink





(C) SPECIAL RULE WITH RESPECT TO INFORMATION AND INFORMATIONAL MATERIALS- Notwithstanding subparagraph (B)(iii), information and informational materials of United States origin may not be exported directly or indirectly to Iran--

(i) if the exportation of such information or informational materials is otherwise controlled--

(I) 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.)); or

(II) 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

(ii) if such information or informational materials are information or informational materials with respect to which acts are prohibited by chapter 37 of title 18, United States Code.

(3) 3) FREEZING ASSETS-CommentsClose CommentsPermalink




(A) IN GENERAL- At such time as the United States has access to the names of persons in Iran, including Iranian diplomats and representatives of other government andPresident determines that a person in Iran, including an Iranian diplomat or representative of another government or military or quasi-governmental institutions of Iran (including Iran’s Revolutionary Guard Corps and its affiliates), that satisfysatisfies the criteria for designation with respect to the imposition of sanctions under the authority of the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) or are otherwise subject to sanctions under any other provision of law, the President shall take such action as may be necessary to freeze, as soon as possible, the funds and other assets belonging to anyone so named and--CommentsClose CommentsPermalink





(i) the funds and other assets belonging to that person; andCommentsClose CommentsPermalink





(ii) any funds or other assets that person transfers, on or after the date on which the President determines the person satisfies such criteria, to 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, 2009. The action described in the preceding sentence or associate acting for or on behalf of the person.CommentsClose CommentsPermalink





(B) REPORTS TO THE OFFICE OF FOREIGN ASSETS CONTROL- The action described in subparagraph (A) includes requiring any United States financial institution that holds funds and assets of a person so namedor assets of a person described in that subparagraph or funds or assets that person transfers to a family member or associate described in that subparagraph to report promptly to the Office of Foreign Assets Control information regarding such funds and assets.CommentsClose CommentsPermalink





(B) ASSET REPORTING REQUIREMENTC) REPORTS TO CONGRESS- 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 funds or assets of any person under subparagraph (A), the President shall report the name of the person to the appropriate congressional committees. Such a report may contain a classified annex.CommentsClose CommentsPermalink





(4D) TERMINATION- The President shall release assets or funds frozen under subparagraph (A) if the person to which the assets or funds belong or the person that transfers the assets or funds as described in subparagraph (A)(ii) (as the case may be) no longer satisfies the criteria for designation with respect to the imposition of sanctions under the authority of the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.).CommentsClose CommentsPermalink





(E) 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 5FINANCIAL INSTITUTION DEFINED- In this paragraph, the term ‘United States financial institution’ means a financial institution (as defined in section 14 of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note)) that is a United States person.CommentsClose CommentsPermalink





(c) Waiver- The President may waive the application ofPenalties- The penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) shall apply to a person that violates, attempts to violate, conspires to violate, or causes a violation of this section or regulations prescribed under this section to the same extent that such penalties apply to a person that commits an unlawful act described in section 206(a) of that Act.CommentsClose CommentsPermalink





(d) Regulatory Authority-CommentsClose CommentsPermalink





(1) IN GENERAL- The President shall prescribe regulations to carry out this section, which may include regulatory exceptions to the sanctions described in subsection (b) if the President--(1) determines that such .CommentsClose CommentsPermalink





(2) APPLICABILITY OF CERTAIN REGULATIONS- No exception to the prohibition under subsection (b)(1) may be made for the commercial importation of an Iranian origin good described in section 560.534(a) of title 31, Code of Federal Regulations (as in effect on the day before the date of the enactment of this Act), unless the President--CommentsClose CommentsPermalink





(A) prescribes a regulation providing for such an exception on or after the date of the enactment of this Act; andCommentsClose CommentsPermalink





(B) submits to the appropriate congressional committees--CommentsClose CommentsPermalink





(i) a waivercertification in writing that the exception is in the national interest of the United States; andCommentsClose CommentsPermalink





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

SEC. 104. LIABILITY OF PARENT COMPANIES FOR VIOLATIONS OFMANDATORY SANCTIONS BY FOREIGN SUBSIDIARIEWITH RESPECT TO FINANCIAL INSTITUTIONS THAT ENGAGE IN CERTAIN TRANSACTIONS.CommentsClose CommentsPermalink

(a) Definitions- In this section:(1) ENTITY- The term ‘entity’ means a partnership, association, trust, joint venture, corporation, or other organizationFindings- Congress makes the following findings:CommentsClose CommentsPermalink





(1) The Financial Action Task Force is an intergovernmental body whose purpose is to develop and promote national and international policies to combat money laundering and terrorist financing.CommentsClose CommentsPermalink





(2) OWN OR CONTROL- The term ‘own or control’ means, with respect to an entityThirty-three countries, plus the European Commission and the Cooperation Council for the Arab States of the Gulf, belong to the Financial Action Task Force. The member countries of the Financial Action Task Force include the United States, Canada, most countries in western Europe, Russia, the People’s Republic of China, Japan, South Korea, Argentina, and Brazil.CommentsClose CommentsPermalink





(3) In 2008 the Financial Action Task Force extended its mandate to include addressing ‘new and emerging threats such as proliferation financing’, meaning the financing of the proliferation of weapons of mass destruction, and published ‘guidance papers’ for members to assist them in implementing various United Nations Security Council resolutions dealing with weapons of mass destruction, including United Nations Security Council Resolutions 1737 (2006) and 1803 (2008), which deal specifically with proliferation by Iran.CommentsClose CommentsPermalink





(4) The Financial Action Task Force has repeatedly called on members--CommentsClose CommentsPermalink





(A) to hold more than 50 percent of the equity interest by vote or value in the entity;

(B) to hold a majority of seats on the board of directors of the entity; or

(C) to otherwise control the actions, policies, or personnel decisions of the entity.

(3) SUBSIDIARY- The term ‘subsidiary’ means an entity that is owned or controlled, directly or indirectly, by a United States person.

(4) UNITED STATES PERSON- The term ‘United States person’ means--

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

(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 or control the entityadvise financial institutions in their jurisdictions to give special attention to business relationships and transactions with Iran, including Iranian companies and financial institutions;CommentsClose CommentsPermalink




(B) to apply effective countermeasures to protect their financial sectors from risks relating to money laundering and financing of terrorism that emanate from Iran;CommentsClose CommentsPermalink





(C) to protect against correspondent relationships being used by Iran and Iranian companies and financial institutions to bypass or evade countermeasures and risk-mitigation practices; andCommentsClose CommentsPermalink





(D) to take into account risks relating to money laundering and financing of terrorism when considering requests by Iranian financial institutions to open branches and subsidiaries in their jurisdictions.CommentsClose CommentsPermalink





(5) At a February 2010 meeting of the Financial Action Task Force, the Task Force called on members to apply countermeasures ‘to protect the international financial system from the ongoing and substantial money laundering and terrorist financing (ML/TF) risks’ emanating from Iran.CommentsClose CommentsPermalink





(b) In General- A United States person shall be subject to a penalty for a violation of the provisions of Executive Order 12959 (Sense of Congress Regarding the Imposition of Sanctions on the Central Bank of Iran- Congress--CommentsClose CommentsPermalink





(1) acknowledges the efforts of the United Nations Security Council to impose limitations on transactions involving Iranian financial institutions, including the Central Bank of Iran; andCommentsClose CommentsPermalink





(2) urges the President, in the strongest terms, to consider immediately using the authority of the President to impose sanctions on the Central Bank of Iran and any other Iranian financial institution engaged in proliferation activities or support of terrorist groups.CommentsClose CommentsPermalink





(c) Prohibitions and Conditions With Respect to Certain Accounts Held by Foreign Financial Institutions-CommentsClose CommentsPermalink





(1) IN GENERAL- Not later than 90 days after the date of the enactment of this Act, the Secretary of the Treasury shall prescribe regulations to prohibit, or impose strict conditions on, the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that the Secretary finds knowingly engages in an activity described in paragraph (2).CommentsClose CommentsPermalink





(2) ACTIVITIES DESCRIBED- A foreign financial institution engages in an activity described in this paragraph if the foreign financial institution--CommentsClose CommentsPermalink





(A) facilitates the efforts of the Government of Iran (including efforts of Iran’s Revolutionary Guard Corps or any of its agents or affiliates)--CommentsClose CommentsPermalink





(i) to acquire or develop weapons of mass destruction or delivery systems for weapons of mass destruction; orCommentsClose CommentsPermalink





(ii) to provide support for organizations designated as foreign terrorist organizations under section 219(a) of the Immigration and Nationality Act (8 U.S.C. 1189(a)) or support for acts of international terrorism (as defined in section 14 of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) or Executive Order 13059);CommentsClose CommentsPermalink





(B) facilitates the activities of a person subject to financial sanctions pursuant to United Nations Security Council Resolution 1737 (2006), 1747 (2007), 1803 (2008), or 1929 (2010), or any other resolution that is agreed to by the Security Council and imposes sanctions with respect to Iran;CommentsClose CommentsPermalink





(C) engages in money laundering to carry out an activity described in subparagraph (A) or (B);CommentsClose CommentsPermalink





(D) facilitates efforts by the Central Bank of Iran or any other Iranian financial institution to carry out an activity described in subparagraph (A) or (B); orCommentsClose CommentsPermalink





(E) facilitates a significant transaction or transactions or provides significant financial services for--CommentsClose CommentsPermalink





(i) Iran’s Revolutionary Guard Corps or any of its agents or affiliates whose property or interests in property are blocked pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 note), or any other prohibition on transactions with respect to Iran imposed under the authority ofet seq.); orCommentsClose CommentsPermalink





(ii) a financial institution whose property or interests in property are blocked pursuant to that Act in connection with--CommentsClose CommentsPermalink





(I) Iran’s proliferation of weapons of mass destruction or delivery systems for weapons of mass destruction; orCommentsClose CommentsPermalink





(II) Iran’s support for international terrorism.CommentsClose CommentsPermalink





(3) PENALTIES- The penalties provided for in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) shall apply to a person that violates, attempts to violate, conspires to violate, or causes a violation of regulations prescribed under paragraph (1) of this subsection to the same extent that such penalties apply to a person that commits an unlawful act described in section 206(a) of that Act.CommentsClose CommentsPermalink





(d) Penalties for Domestic Financial Institutions for Actions of Persons Owned or Controlled by Such Financial Institutions-CommentsClose CommentsPermalink





(1) IN GENERAL- Not later than 90 days after the date of the enactment of this Act, the Secretary of the Treasury shall prescribe regulations to prohibit any person owned or controlled by a domestic financial institution from knowingly engaging in a transaction or transactions with or benefitting Iran’s Revolutionary Guard Corps or any of its agents or affiliates whose property or interests in property are blocked pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), if--

(1) the President determines, pursuant to such regulations as the President may prescribe, that the United States person establishes or maintains a subsidiary outside of the United States for the purpose of circumventing such provisions; and

(2) that subsidiary engages in an act that, if committed in the United States or by a United States person, would violate such provisions.

(c) Waiver- The President may.CommentsClose CommentsPermalink




(2) PENALTIES- The penalties provided for in section 206(b) of the International Emergency Economic Powers Act (50 U.S.C. 1705(b)) shall apply to a domestic financial institution to the same extent that such penalties apply to a person that commits an unlawful act described in section 206(a) of that Act if--CommentsClose CommentsPermalink





(A) a person owned or controlled by the domestic financial institution violates, attempts to violate, conspires to violate, or causes a violation of regulations prescribed under paragraph (1) of this subsection; andCommentsClose CommentsPermalink





(B) the domestic financial institution knew or should have known that the person violated, attempted to violate, conspired to violate, or caused a violation of such regulations.CommentsClose CommentsPermalink





(e) Requirements for Financial Institutions Maintaining Accounts for Foreign Financial Institutions-CommentsClose CommentsPermalink





(1) IN GENERAL- The Secretary of the Treasury shall prescribe regulations to require a domestic financial institution maintaining a correspondent account or payable-through account in the United States for a foreign financial institution to do one or more of the following:CommentsClose CommentsPermalink





(A) Perform an audit of activities described in subsection (c)(2) that may be carried out by the foreign financial institution.CommentsClose CommentsPermalink





(B) Report to the Department of the Treasury with respect to transactions or other financial services provided with respect to any such activity.CommentsClose CommentsPermalink





(C) Certify, to the best of the knowledge of the domestic financial institution, that the foreign financial institution is not knowingly engaging in any such activity.CommentsClose CommentsPermalink





(D) Establish due diligence policies, procedures, and controls, such as the due diligence policies, procedures, and controls described in section 5318(i) of title 31, United States Code, reasonably designed to detect whether the Secretary of the Treasury has found the foreign financial institution to knowingly engage in any such activity.CommentsClose CommentsPermalink





(2) PENALTIES- The penalties provided for in sections 5321(a) and 5322 of title 31, United States Code, shall apply to a person that violates a regulation prescribed under paragraph (1) of this subsection, in the same manner and to the same extent as such penalties would apply to any person that is otherwise subject to such section 5321(a) or 5322.CommentsClose CommentsPermalink





(f) Waiver- The Secretary of the Treasury may waive the application of subsection (b) if the President--(1) determines that such a waiver is in the a prohibition or condition imposed with respect to a foreign financial institution pursuant to subsection (c) or the imposition of a penalty under subsection (d) with respect to a domestic financial institution on and after the date that is 30 days after the Secretary--CommentsClose CommentsPermalink





(1) determines that such a waiver is necessary to 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





(d) Effective Date-

(1) IN GENERAL- Subsection (b) shall take effect on the date of the enactment of this Act and apply with respect to acts described in subsection (b)(2) that are--

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

(B) except as provided in paragraph (2), commenced before such date of enactment, if such acts continue on or after such date of enactmentg) Procedures for Judicial Review of Classified Information-CommentsClose CommentsPermalink




(1) IN GENERAL- If a finding under subsection (c)(1), a prohibition, condition, or penalty imposed as a result of any such finding, or a penalty imposed under subsection (d), is based on classified information (as defined in section 1(a) of the Classified Information Procedures Act (18 U.S.C. App.)) and a court reviews the finding or the imposition of the prohibition, condition, or penalty, the Secretary of the Treasury may submit such information to the court ex parte and in camera.CommentsClose CommentsPermalink





(2) EXCEPTION- Subsection (b) shall not apply with respect to an act described in paragraph (1)(B) by a subsidiary owned or controlled by a United States person if the United States person divests or terminates its business with the subsidiary not later RULE OF CONSTRUCTION- Nothing in this subsection shall be construed to confer or imply any right to judicial review of any finding under subsection (c)(1), any prohibition, condition, or penalty imposed as a result of any such finding, or any penalty imposed under subsection (d).CommentsClose CommentsPermalink





(h) Consultations in Implementation of Regulations- In implementing this section and the regulations prescribed under this section, the Secretary of the Treasury--CommentsClose CommentsPermalink





(1) shall consult with the Secretary of State; andCommentsClose CommentsPermalink





(2) may, in the sole discretion of the Secretary of the Treasury, consult with such other agencies and departments and such other interested parties as the Secretary considers appropriate.CommentsClose CommentsPermalink





(i) Definitions-CommentsClose CommentsPermalink





(1) IN GENERAL- In this section:CommentsClose CommentsPermalink





(A) ACCOUNT; CORRESPONDENT ACCOUNT; PAYABLE-THROUGH ACCOUNT- The terms ‘account’, ‘correspondent account’, and ‘payable-through account’ have the meanings given those terms in section 5318A of title 31, United States Code.CommentsClose CommentsPermalink





(B) AGENT- The term ‘agent’ includes an entity established by a person for purposes of conducting transactions on behalf of the person in order to conceal the identity of the person.CommentsClose CommentsPermalink





(C) FINANCIAL INSTITUTION- The term ‘financial institution’ means a financial institution specified in subparagraph (A), (B), (C), (D), (E), (F), (G), (H), (I), (J), (M), or (Y) of section 5312(a)(2) of title 31, United States Code.CommentsClose CommentsPermalink





(D) FOREIGN FINANCIAL INSTITUTION; DOMESTIC FINANCIAL INSTITUTION- The terms ‘foreign financial institution’ and ‘domestic financial institution’ shall have the meanings of those terms as determined by the Secretary of the Treasury.CommentsClose CommentsPermalink





(E) MONEY LAUNDERING- The term ‘money laundering’ means the movement of illicit cash or cash equivalent proceeds into, out of, or through a country, or into, out of, or through a financial institution.CommentsClose CommentsPermalink





(2) OTHER DEFINITIONS- The Secretary of the Treasury may further define the terms used in this section in the regulations prescribed under this section.CommentsClose CommentsPermalink

(a) In General- The President shall impose sanctions described in subsection (c) with respect to each person on the list required by subsection (b).CommentsClose CommentsPermalink





(b) List of Persons Who Are Responsible for or Complicit in Certain Human Rights Abuses-CommentsClose CommentsPermalink





(1) IN GENERAL- Not later than 90 days after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a list of persons who are officials of the Government of Iran or persons acting on behalf of that Government (including members of paramilitary organizations such as Ansar-e-Hezbollah and Basij-e Mostaz’afin), that the President determines, based on credible evidence, are responsible for or complicit in, or responsible for ordering, controlling, or otherwise directing, the commission of serious human rights abuses against citizens of Iran or their family members on or after June 12, 2009, regardless of whether such abuses occurred in Iran.CommentsClose CommentsPermalink





(2) UPDATES OF LIST- The President shall submit to the appropriate congressional committees an updated list under paragraph (1)--CommentsClose CommentsPermalink





(A) not later than 270 days after the date of the enactment of this Act.SEC. 105 and every 180 days thereafter; andCommentsClose CommentsPermalink





(B) as new information becomes available.CommentsClose CommentsPermalink





(3) FORM OF REPORT; PUBLIC AVAILABILITY-CommentsClose CommentsPermalink





(A) FORM- The list required by paragraph (1) shall be submitted in unclassified form but may contain a classified annex.CommentsClose CommentsPermalink





(B) PUBLIC AVAILABILITY- The unclassified portion of the list required by paragraph (1) shall be made available to the public and posted on the websites of the Department of the Treasury and the Department of State.CommentsClose CommentsPermalink





(4) CONSIDERATION OF DATA FROM OTHER COUNTRIES AND NONGOVERNMENTAL ORGANIZATIONS- In preparing the list required by paragraph (1), the President shall consider credible data already obtained by other countries and nongovernmental organizations, including organizations in Iran, that monitor the human rights abuses of the Government of Iran.CommentsClose CommentsPermalink





(c) Sanctions Described- The sanctions described in this subsection are ineligibility for a visa to enter the United States and sanctions pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), including blocking of property and restrictions or prohibitions on financial transactions and the exportation and importation of property, subject to such regulations as the President may prescribe, including regulatory exceptions to permit the United States to comply with the Agreement between the United Nations and the United States of America regarding the Headquarters of the United Nations, signed June 26, 1947, and entered into force November 21, 1947, and other applicable international obligations.CommentsClose CommentsPermalink





(d) Termination of Sanctions- The provisions of this section shall terminate on the date on which the President determines and certifies to the appropriate congressional committees that the Government of Iran has--CommentsClose CommentsPermalink





(1) unconditionally released all political prisoners, including the citizens of Iran detained in the aftermath of the June 12, 2009, presidential election in Iran;CommentsClose CommentsPermalink





(2) ceased its practices of violence, unlawful detention, torture, and abuse of citizens of Iran while engaging in peaceful political activity;CommentsClose CommentsPermalink





(3) conducted a transparent investigation into the killings, arrests, and abuse of peaceful political activists that occurred in the aftermath of the June 12, 2009, presidential election in Iran and prosecuted the individuals responsible for such killings, arrests, and abuse; andCommentsClose CommentsPermalink





(4) made public commitments to, and is making demonstrable progress toward--CommentsClose CommentsPermalink





(A) establishing an independent judiciary; andCommentsClose CommentsPermalink





(B) respecting the human rights and basic freedoms recognized in the Universal Declaration of Human Rights.CommentsClose CommentsPermalink

SEC. 106. PROHIBITION ON PROCUREMENT CONTRACTS WITH PERSONS THAT EXPORT SENSITIVE TECHNOLOGY TO IRAN.CommentsClose CommentsPermalink

(a) In General- Notwithstanding any other provision of law, and pursuant to such Except as provided in subsection (b), and pursuant to such regulations as the President may prescribe, the head of an executive agency may not enter into or renew a contract, on or after the date that is 90 days after the date of the enactment of this Act, for the procurement of goods or services with a person that exports sensitive technology to Iran.CommentsClose CommentsPermalink





(b) Waiver- The President may waive the application ofAuthorization to Exempt Certain Products- The President is authorized to exempt from the prohibition under subsection (a) if the President--

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

(2) submits to Congress a report describing the reasons for the determinationonly eligible products, as defined in section 308(4) of the Trade Agreements Act of 1979 (19 U.S.C. 2518(4)), of any foreign country or instrumentality designated under section 301(b) of that Act (19 U.S.C. 2511(b)).CommentsClose CommentsPermalink




(c) Sensitive Technology Defined-CommentsClose CommentsPermalink





(1) IN GENERAL- The term ‘sensitive technology’ means hardware, software, telecommunications equipment, or any other technology, that the President determines is to be used specifically--CommentsClose CommentsPermalink





(1A) to restrict the free flow of unbiased information in Iran; orCommentsClose CommentsPermalink





(2B) to disrupt, monitor, or otherwise restrict speech of the people of Iran.CommentsClose CommentsPermalink





(2) EXCEPTION- The term ‘sensitive technology’ does not include information or informational materials the exportation of which the President does not have the authority to regulate or prohibit pursuant to section 203(b)(3) of the International Emergency Economic Powers Act (50 U.S.C. 1702(b)(3)).CommentsClose CommentsPermalink





(d) Government Accountability Office Report on Effect of Procurement Prohibition- Not later than 1 year after the date of the enactment of this Act, the Comptroller General of the United States shall submit to the appropriate congressional committees, the Committee on Armed Services of the Senate, and the Committee on Armed Services of the House of Representatives, a report assessing the extent to which executive agencies would have entered into or renewed contracts for the procurement of goods or services with persons that export sensitive technology to Iran if the prohibition under subsection (a) were not in effect.CommentsClose CommentsPermalink

SEC. 1067. HARMONIZATION OF CRIMINAL PENALTIES FOR VIOLATIONS OF SANCTIONS.CommentsClose CommentsPermalink

SEC. 109. INCREASED CAPACITY FOR EFFORTS TO COMBAT UNLAWFUL OR TERRORIST FINANCING.CommentsClose CommentsPermalink

(a) Finding- Congress finds that ts- Congress finds the following:CommentsClose CommentsPermalink





(1) 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





(2) The Secretary of the Treasury has designated, including most recently on June 16, 2010, various Iranian individuals and banking, military, energy, and shipping entities as proliferators of weapons of mass destruction pursuant to Executive Order 13382 (50 U.S.C. 1701 note), thereby blocking transactions subject to the jurisdiction of the United States by those individuals and entities and their supporters.CommentsClose CommentsPermalink





(3) The Secretary of the Treasury has also identified an array of entities in the insurance, petroleum, and petrochemicals industries that the Secretary has determined to be owned or controlled by the Government of Iran and added those entities to the list contained in Appendix A to part 560 of title 31, Code of Federal Regulations (commonly known as the ‘Iranian Transactions Regulations’), thereby prohibiting transactions between United States persons and those entities.CommentsClose CommentsPermalink





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





(1) $64,611102,613,000 for fiscal year 20101; andCommentsClose CommentsPermalink





(2) such sums as may be necessary for each of the fiscal years 2011 and 20122 and 2013.CommentsClose CommentsPermalink





(c) Authorization of Appropriations for the 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 ‘$104,2600,419,000 for fiscal year 20101 and such sums as may be necessary for each of the fiscal years 2011 and 2012’2 and 2013’.CommentsClose CommentsPermalink





(d) Authorization of Appropriations for Bureau of Industry and Security of the Department of Commerce- There are authorized to be appropriated to the Secretary of Commerce for the Bureau of Industry and Security of the Department of Commerce--CommentsClose CommentsPermalink





(1) $113,000,000 for fiscal year 2011; andCommentsClose CommentsPermalink





(2) such sums as may be necessary for each of the fiscal years 2012 and 2013.CommentsClose CommentsPermalink

SEC. 107. REPORTING REQUIREMENTS10. REPORTS ON INVESTMENTS IN THE ENERGY SECTOR OF IRAN.CommentsClose CommentsPermalink

(a) Report on Investment and Activities That May Be Sanctionable Under Iran Sanctions Act of 1996-(1) IN GENERAL- Not later Initial Report-CommentsClose CommentsPermalink





(1) IN GENERAL- Not later than 180 days after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a report containing--

(A) a description of--

(i) any foreign investments of $20,000,000 or more that contribute directly and significantly to the enhancement of Iran’s ability to develop petroleum resources90 days after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a report--CommentsClose CommentsPermalink




(A) on investments in the energy sector of Iran that were made during the period described in paragraph (2);

(ii) any sale, lease, or provision to Iran during the period described in paragraph (2) of any goods, services, technology, information, or support that would facilitate the maintenance or expansion of Iran’s domestic production of refined petroleum products; and

(iii) any refined petroleum products provided to Iran during the period described in paragraph (2) and any other activity that could contribute directly and significantly to the enhancement of Iran’s ability to import refined petroleum products during that period;

(B) with respect to each investment or other activity described in subparagraph (A), an identification of--

(i) the date or dates of the investment or activity;

(ii) the steps taken by the United States to respond to the investment or activity;

(iii) the name and United States domiciliary of any person andCommentsClose CommentsPermalink




(B) that participated or invested in or facilitated the investment or activity; and

(iv) any Federal Government contracts to which any person referred to in clause (iii) are parties; and

(C) the determination of the President with respect to whether each such investment or activity 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)contains--CommentsClose CommentsPermalink




(i) an estimate of the volume of energy-related resources (other than refined petroleum), including ethanol, that Iran imported during the period described in paragraph (2); andCommentsClose CommentsPermalink





(ii) a list of all significant known energy-related joint ventures, investments, and partnerships located outside Iran that involve Iranian entities in partnership with entities from other countries, including an identification of the entities from other countries; andCommentsClose CommentsPermalink





(iii) an estimate of--CommentsClose CommentsPermalink





(I) the total value of each such joint venture, investment, and partnership; andCommentsClose CommentsPermalink





(II) the percentage of each such joint venture, investment, and partnership owned by an Iranian entity.CommentsClose CommentsPermalink





(2) PERIOD DESCRIBED- The period described in this paragraph is the period beginning on January 1, 2009, and ending on the date on which the President submits the report under paragraph (1)6, and ending on the date that is 60 days after the date of the enactment of this Act.CommentsClose CommentsPermalink





(b) Subsequent Reports- Not later than 1 year after the date of the enactment of this ActUpdated Reports- Not later than 180 days after submitting the report required by subsection (a), and every 180 days thereafter, the President shall submit to the appropriate congressional committees an updated version of the report required under subsection (a) that contains the information required under that subsection report containing the matters required in the report under subsection (a)(1) for the 180-day period preceding the submission of the updated report.(c) Form of Reports; Publication- A report submitted under subsectionbeginning on the date that is 30 days before the date on which the preceding report was required to be submitted by this section.CommentsClose CommentsPermalink

(a) or (b) shall be submitted in unclassified form, but may contain a classified annex. The unclassified portion of the report shall be published in the Federal RegisterReport on Certain Activities of Export Credit Agencies of Foreign Countries-CommentsClose CommentsPermalink





(1) IN GENERAL- Not later than 90 days after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a report on any activity of an export credit agency of a foreign country that is an activity comparable to an activity described in subsection (a) or (b) of section 5 of the Iran Sanctions Act of 1996, as amended by section 102 of this Act.CommentsClose CommentsPermalink





(2) UPDATES- The President shall update the report required by paragraph (1) as new information becomes available with respect to the activities of export credit agencies of foreign countries.CommentsClose CommentsPermalink





(b) Report on Certain Financing by the Export-Import Bank of the United States- Not later than 30 days (or, in extraordinary circumstances, not later than 15 days) before the Export-Import Bank of the United States approves cofinancing (including loans, guarantees, other credits, insurance, and reinsurance) in which an export credit agency of a foreign country identified in the report required by subsection (a) will participate, the President shall submit to the appropriate congressional committees a report identifying--CommentsClose CommentsPermalink





(1) the export credit agency of the foreign country; andCommentsClose CommentsPermalink





(2) the beneficiaries of the financing.CommentsClose CommentsPermalink

SEC. 10812. SENSE OF CONGRESS REGARDING THE IMPOSITION OF SANCTIONS ON THE CENTRAL BANK OF IRAN.

Congress urges the President, in the strongest terms, to consider immediately using the authority of the President to impose sanctions on the Central Bank of Iran and any other Iranian bank engaged in proliferation activities or support of terrorist groups.

SEC. 109. POLICY OF THE UNITED STATES REGARDING IRAN’S REVOLUTIONARY GUARD CORPS AND ITS AFFILIATES.CommentsClose CommentsPermalink

It is the sense of Congress that the United States should--CommentsClose CommentsPermalink





(1) continue topersistently target Iran’s Revolutionary Guard Corps persistentlyand its affiliates with economic sanctions for its support for terrorism, its role in proliferation, and its oppressive activities against the people of Iran;CommentsClose CommentsPermalink





and(2) impose sanctions, including travel restrictions, sanctions authorized pursuant to this Act, and the full range of sanctions available to the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), on(2) identify, as soon as possible--CommentsClose CommentsPermalink





(A) any foreign individual or entity that is an agent, alias, front, instrumentality, official, or affiliate of Iran’s Revolutionary Guard Corps and is designated for the imposition of sanctions by the President;CommentsClose CommentsPermalink





(B) any individual or entity whothat--CommentsClose CommentsPermalink





(i) has provided material support to Iran’s Revolutionary Guard Corps or any of its affiliates designated for the imposition of sanctions by the Presidentany individual or entity described in subparagraph (A); orCommentsClose CommentsPermalink





(ii) has conducted any financial or commercial transaction with Iran’s Revolutionary Guard Corps or any of its affiliates so designated; and

(C) any foreign government found--

(i) to be providing material support to Iran’s Revolutionary Guard Corps or any of its affiliates designated for the imposition of sanctions by the President; or

(ii) to have conductedany such individual or entity; andCommentsClose CommentsPermalink




(C) any foreign government that--CommentsClose CommentsPermalink





(i) provides material support to any such individual or entity; orCommentsClose CommentsPermalink





(ii) conducts any commercial transaction or financial transaction with Iran’s Revolutionary Guard Corps or any of its affiliates so designated.SEC. 110. POLICY OF THE UNITED STATES WITH RESPECT TOany such individual or entity; andCommentsClose CommentsPermalink





(3) immediately impose sanctions, including travel restrictions, sanctions authorized pursuant to this Act or the Iran Sanctions Act of 1996, as amended by section 102 of this Act, and the full range of sanctions available to the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), on the individuals, entities, and governments described in paragraph (2).CommentsClose CommentsPermalink

SEC. 113. SENSE OF CONGRESS REGARDING IRAN AND HEZBOLLAH.CommentsClose CommentsPermalink

It is the sense of Congress that the United States should--CommentsClose CommentsPermalink





(1) continue to counter support received by Hezbollah from the Government of Iran and other foreign governments in response to Hezbollah’s terrorist activities and the threat Hezbollah poses to Israel, the democratic sovereignty of Lebanon, and the national security interests of the United States;CommentsClose CommentsPermalink





(2) impose the full range of sanctions available to the President under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) on Hezbollah, its designated affiliates and supporters of Hezbollah designated for the imposition of sanctions under that Act, and persons providing Hezbollah with commercial, financial, or other services;CommentsClose CommentsPermalink





(3) urge the European Union, individual countries in Europe, and other countries to classify Hezbollah as a terrorist organization to facilitate the disruption of Hezbollah’s operations; andCommentsClose CommentsPermalink





(4) renew international efforts to disarm Hezbollah and disband its militias in Lebanon, as called for by United Nations Security Council Resolutions 1559 (2004) and 1701 (2006).CommentsClose CommentsPermalink

SEC. 1114. SENSE OF CONGRESS REGARDING THE IMPOSITION OF MULTILATERAL SANCTIONS WITH RESPECT TO IRAN.CommentsClose CommentsPermalink

It is the sense of Congress that--CommentsClose CommentsPermalink





(1) in general, multilateral sanctions are more effective than unilateral sanctions at achievingmultilateral sanctions are preferable to unilateral sanctions in order to achieve desired results from countries such as Iran; andCommentsClose CommentsPermalink





(2) the President should continue to work with allies of the United States to impose such sanctions as may be necessary to prevent the Government of Iran from acquiring a nuclear weapons capability; and(3) the United States should continue to consult with the 5 permanent members of the United Nations Security Council and Germany (commonly referred to as the ‘P5-plus-1’) and other interested countries regarding imposing new sanctions with respect to Iran in the event that diplomatic efforts to prevent Iran from acquiring a nuclear weapons capability fail.CommentsClose CommentsPermalink

Not later than 180 days after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a report on equitable methods for providing compensation on a comprehensive basis to victims of acts of international terrorism who are citizens or residents of the United States or nationals of the United States (as defined in section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a)).CommentsClose CommentsPermalink

TITLE II--DIVESTMENT FROM CERTAIN COMPANIES THAT INVEST IN IRANCommentsClose CommentsPermalink

SEC. 201. DEFINITIONS.CommentsClose CommentsPermalink

In this title:CommentsClose CommentsPermalink





(1) ENERGY SECTOR OF IRAN- The term ‘energy sector of Iran’ refers to activities to develop petroleum or natural gas resources or nuclear power in Iran.CommentsClose CommentsPermalink





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





(3) IRAN- The term ‘Iran’ includes the Government of Iran and any agency or instrumentality of Iran.CommentsClose CommentsPermalink





(4) PERSON- The term ‘person’ means--CommentsClose CommentsPermalink





(A) a natural person, corporation, company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group;CommentsClose CommentsPermalink





(B) any governmental entity or instrumentality of a government, including a multilateral development institution (as defined in section 1701(c)(3) of the International Financial Institutions Act (22 U.S.C. 262r(c)(3))); andCommentsClose CommentsPermalink





(C) any successor, subunit, parent company, or subsidiary ofentity, or subsidiary of, or any entity under common ownership or control with, any entity described in subparagraph (A) or (B).CommentsClose CommentsPermalink





(5) STATE- The term ‘State’ means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands, American Samoa, Guam, the United States Virgin Islands, and any other territory or possession of the United States.CommentsClose CommentsPermalink





(6) STATE OR LOCAL GOVERNMENT- The term ‘State or local government’ includes--CommentsClose CommentsPermalink





(A) any State and any agency or instrumentality thereof;CommentsClose CommentsPermalink





(B) any local government within a State, and any agency or instrumentality thereof;CommentsClose CommentsPermalink





(C) any other governmental instrumentality of a State or locality; andCommentsClose CommentsPermalink





(D) any public institution of higher education within the meaning of the Higher Education Act of 1965 (20 U.S.C. 1001 et seq.).CommentsClose CommentsPermalink

SEC. 202. AUTHORITY OF STATE AND LOCAL GOVERNMENTS TO DIVEST FROM CERTAIN COMPANIES THAT INVEST IN IRAN.CommentsClose CommentsPermalink

(a) Sense of Congress- It is the sense of Congress that the United States Government should support the decision of any State or local government that for moral, prudential, or reputational reasons divests from, or prohibits the investment of assets of the State or local government in, a person that engages in investment activities in the energy sector of Iran, as long as that country is subject to Iran is subject to economic sanctions imposed by the United States.CommentsClose CommentsPermalink





(b) Authority Tto Divest- Notwithstanding any other provision of law, a State or local government may adopt and enforce measures that meet the requirements of subsection (d) to divest the assets of the State or local government from, or prohibit investment of the assets of the State or local government in, any person that the State or local government determines, using credible information available to the public, engages in investment activities in Iran described in subsection (c).CommentsClose CommentsPermalink





(c) Investment Activities Described- A person engages in investment activities in Iran described in this subsection if the person--CommentsClose CommentsPermalink





(1) has an investment of $20,000,000 or more in the energy sector of Iran, including in a person that provides oil or liquified natural gas tankers, or products used to construct or maintain pipelines used to transport oil or liquified natural gas, for the energy sector inof Iran; orCommentsClose CommentsPermalink





(2) is a financial institution that extends $20,000,000 or more in credit to another person, for 45 days or more, if that person will use the credit to invesfor investment in the energy sector inof Iran.CommentsClose CommentsPermalink





(d) Requirements- Any measure taken by a State or local government under subsection (b) shall meet the following requirements:CommentsClose CommentsPermalink





(1) NOTICE- The State or local government shall provide written notice to each person to which a measure is to be applied.CommentsClose CommentsPermalink





(2) TIMING- The measure shall apply to a person not earlier than the date that is 90 days after the date on which written notice is provided to the person under paragraph (1).CommentsClose CommentsPermalink





(3) OPPORTUNITY FOR HEARING- The State or local government shall provide an opportunity to comment in writing to each person to which a measure is to be applied. If the person demonstrates to the State or local government that the person does not engage in investment activities in Iran described in subsection (c), the measure shall not apply to the person.CommentsClose CommentsPermalink





(4) SENSE OF CONGRESS ON AVOIDING ERRONEOUS TARGETING- It is the sense of Congress that a State or local government should not adopt a measure under subsection (b) with respect to a person unless the State or local government has made every effort to avoid erroneously targeting the person and has verified that the person engages in investment activities in Iran described in subsection (c).CommentsClose CommentsPermalink





(e) Notice to Department of Justice- Not later than 30 days after adopting a measure pursuant to subsection (b), a State or local government shall submit written notice to the Attorney General describing the measure.CommentsClose CommentsPermalink





(f) Nonpreemption- A measure of a State or local government authorized under subsection (b) or (i) is not preempted by any Federal law or regulation.CommentsClose CommentsPermalink





(g) Definitions- In this section:CommentsClose CommentsPermalink





(1) INVESTMENT- The ‘investment’ of assets, with respect to a State or local government, includes--

(A) a commitment or contribution of assets;

(B) a loan or other extension of credit; and

(C) the entry into or renewal of a contract for goods or services.

(2) ASSETS-CommentsClose CommentsPermalink




(A) IN GENERAL- Except as provided in subparagraph (B), the term ‘assets’ refers to public monies and includes any pension, retirement, annuity, or endowment fund, or similar instrument, that is controlled by a State or local government.CommentsClose CommentsPermalink





(B) EXCEPTION- The term ‘assets’ does not include employee benefit plans covered by title I of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001 et seq.).CommentsClose CommentsPermalink





(2) INVESTMENT- The ‘investment’ includes--CommentsClose CommentsPermalink





(A) a commitment or contribution of funds or property;CommentsClose CommentsPermalink





(B) a loan or other extension of credit; andCommentsClose CommentsPermalink





(C) the entry into or renewal of a contract for goods or services.CommentsClose CommentsPermalink





(h) Effective Date-CommentsClose CommentsPermalink





(1) IN GENERAL- Except as provided in paragraph (2) or subsection (i), this section applies to measures adopted by a State or local government before, on, or after the date of the enactment of this Act.CommentsClose CommentsPermalink





(2) NOTICE REQUIREMENTS- SExcept as provided in subsection (i), subsections (d) and (e) apply to measures adopted by a State or local government on or after the date of the enactment of this Act.CommentsClose CommentsPermalink





(i) Authorization for Prior Enacted Measures-CommentsClose CommentsPermalink





(1) IN GENERAL- Notwithstanding any other provision of this section or any other provision of law, a State or local government may enforce a measure (without regard to the requirements of subsection (d), except as provided in paragraph (2)) adopted by the State or local government before the date of the enactment of this Act that provides for the divestment of assets of the State or local government from, or prohibits the investment of the assets of the State or local government in, any person that the State or local government determines, using credible information available to the public, engages in investment activities in Iran (determined without regard to subsection (c)) or other business activities in Iran that are identified in the measure.CommentsClose CommentsPermalink





(2) APPLICATION OF NOTICE REQUIREMENTS- A measure described in paragraph (1) shall be subject to the requirements of paragraphs (1) and (2) and the first sentence of paragraph (3) of subsection (d) on and after the date that is 2 years after the date of the enactment of this Act.CommentsClose CommentsPermalink

SEC. 203. SAFE HARBOR FOR CHANGES OF INVESTMENT POLICIES BY ASSET MANAGERS.CommentsClose CommentsPermalink

(a) In General- Section 13(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-13(c)(1)) is amended to read as follows:CommentsClose CommentsPermalink





‘(1) IN GENERAL- Notwithstanding any other provision of Federal or State law, no person may bring any civil, criminal, or administrative action against any registered investment company, or any employee, officer, director, or investment adviser thereof, based solely upon the investment company divesting from, or avoiding investing in, securities issued by persons that the investment company determines, using credible information available to the public--CommentsClose CommentsPermalink





‘(A) conduct or have direct investments in business operations in Sudan described in section 3(d) of the Sudan Accountability and Divestment Act of 2007 (50 U.S.C. 1701 note); orCommentsClose CommentsPermalink





‘(B) engage in investment activities in Iran described in section 202(c) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 200910.’.CommentsClose CommentsPermalink





(b) SEC Regulations- Not later than 120 days after the date of the enactment of this Act, the Securities and Exchange Commission shall issue any revisions the Commission determines to be necessary to the regulations requiring disclosure by each registered investment company that divests itself of securities in accordance with section 13(c) of the Investment Company Act of 1940 to include divestments of securities in accordance with paragraph (1)(B) of such section, as added by subsection (a) of this section.CommentsClose CommentsPermalink

SEC. 204. SENSE OF CONGRESS REGARDING CERTAIN ERISA PLAN INVESTMENTS.CommentsClose CommentsPermalink

It is the sense of Congress that a fiduciary of an employee benefit plan, as defined in section 3(3) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1002(3)), may divest plan assets from, or avoid investing plan assets in, any person the fiduciary determines engages in investment activities in Iran described in section 202(c) of this Act, without breaching the responsibilities, obligations, or duties imposed upon the fiduciary by section 404ubparagraph (A) or (B) of section 404(a)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)(1)), if--CommentsClose CommentsPermalink





(1) the fiduciary makes such determination using credible information that is available to the public; andCommentsClose CommentsPermalink





(2) the fiduciary prudently determines that the result of such divestment or avoidance of investment is conducted in accordance with section 2509.08-1 of title 29, Code of Federal Regulations (as in effect on the day before the date of the enactment of this Actwould not be expected to provide the employee benefit plan with--CommentsClose CommentsPermalink





(A) a lower rate of return than alternative investments with commensurate degrees of risk; orCommentsClose CommentsPermalink





(B) a higher degree of risk than alternative investments with commensurate rates of return.CommentsClose CommentsPermalink

(a) ERISA Plan Investments- Section 5 of the Sudan Accountability and Divestment Act of 2007 (Public Law 110-174; 50 U.S.C. 1701 note) is amended--CommentsClose CommentsPermalink





(1) by striking ‘section 404 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104)’ and inserting ‘subparagraph (A) or (B) of section 404(a)(1) of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104(a)(1))’; andCommentsClose CommentsPermalink





(2) by striking paragraph (2) and inserting the following:CommentsClose CommentsPermalink





‘(2) the fiduciary prudently determines that the result of such divestment or avoidance of investment would not be expected to provide the employee benefit plan with--CommentsClose CommentsPermalink





‘(A) a lower rate of return than alternative investments with commensurate degrees of risk; orCommentsClose CommentsPermalink





‘(B) a higher degree of risk than alternative investments with commensurate rates of return.’.CommentsClose CommentsPermalink





(b) Safe Harbor for Changes of Investment Policies by Asset Managers-CommentsClose CommentsPermalink





(1) IN GENERAL- Section 13(c)(2)(A) of the Investment Company Act of 1940 (15 U.S.C. 80a-13(c)(2)(A)) is amended to read as follows:CommentsClose CommentsPermalink





‘(A) RULE OF CONSTRUCTION- Nothing in paragraph (1) shall be construed to create, imply, diminish, change, or affect in any way whether or not a private right of action exists under subsection (a) or any other provision of this Act.’.CommentsClose CommentsPermalink





(2) APPLICABILITY- The amendment made by paragraph (1) shall apply as if included in the Sudan Accountability and Divestment Act of 2007 (Public Law 110-174; 50 U.S.C. 1701 note).CommentsClose CommentsPermalink

TITLE III--PREVENTION OF TRANSSHIPMENT, REEXPORTATION, OR DIVERSION OF SENSITIVE ITEMCERTAIN GOODS, SERVICES, AND TECHNOLOGIES TO IRANCommentsClose CommentsPermalink

SEC. 301. DEFINITIONS.CommentsClose CommentsPermalink

In this title:CommentsClose CommentsPermalink





(1) ALLOW- The term ‘allow’, with respect to the diversion through a country of goods, services, or technologies, means the government of the country knows or has reason to know that the territory of the country is being used for such diversion.CommentsClose CommentsPermalink





(2) APPROPRIATE CONGRESSIONAL COMMITTEES- The term ‘appropriate congressional committees’ means--CommentsClose CommentsPermalink





(A) the Committee on Banking, Housing, and Urban Affairs, the Committee on Foreign Relations, and the Select Committee on Intelligence of the Senate; andCommentsClose CommentsPermalink





(B) the Committee on Financial Services, the Committee on Foreign Affairs, and the Permanent Select Committee on Intelligence of the House of Representatives.CommentsClose CommentsPermalink





(23) COMMERCE CONTROL LIST- The term ‘Commerce Control List’ means the list maintained pursuant to part 774 of the Export Administration Regulations (or any corresponding similar regulation or ruling).CommentsClose CommentsPermalink





(4) DIVERT; DIVERSION- The terms ‘divert’ and ‘diversion’ refer to the transfer or release, directly or indirectly, of a good, service, or technology to an end-user or an intermediary that is not an authorized recipient of the good, service, or technology.CommentsClose CommentsPermalink





(5) END-USER- The term ‘end-user’ means an end-user as that term is used in the Export Administration Regulations.(3, with respect to a good, service, or technology, means the person that receives and ultimately uses the good, service, or technology.CommentsClose CommentsPermalink





(6) EXPORT ADMINISTRATION REGULATIONS- The term ‘Export Administration Regulations’ means subchapter C of chapter VII of title 15, Code of Federal Regulations.(4 (or any corresponding similar regulation or ruling).CommentsClose CommentsPermalink





(7) GOVERNMENT- The term ‘government’ includes any agency or instrumentality of a government.CommentsClose CommentsPermalink





(58) INTERMEDIARY- The term ‘intermediary’ means a person that receives a good, service, or technology while the good, service, or technology is in transit to the end-user of the good, service, or technology.CommentsClose CommentsPermalink





(9) INTERNATIONAL TRAFFIC IN ARMS REGULATIONS- The term ‘International Traffic in Arms Regulations’ means subchapter M of chapter I of title 22, Code of Federal Regulations (or any corresponding similar regulation or ruling).CommentsClose CommentsPermalink





(10) IRAN- The term ‘Iran’ includes the Government of Iran and any agency or instrumentality of Iran.CommentsClose CommentsPermalink





(611) IRANIAN END-USER- The term ‘Iranian end-user’ means an end-user that is the Government of Iran or a person in, or an agency or instrumentality of, Iran.CommentsClose CommentsPermalink





(12) IRANIAN INTERMEDIARY- The term ‘Iranian intermediary’ means an intermediary that is the Government of Iran or a person in, or an agency or instrumentality of, Iran.CommentsClose CommentsPermalink





(13) STATE SPONSOR OF TERRORISM- The term ‘state sponsor of terrorism’ means any country the government of which the Secretary of State has determined has repeatedly provided support for acts of international terrorism pursuant to--CommentsClose CommentsPermalink





(A) section 6(j)(1)(A) of the Export Administration Act of 1979 (50 U.S.C. App. 2405(j)(1)(A)) (or any successor thereto);CommentsClose CommentsPermalink





(B) section 40(d) of the Arms Export Control Act (22 U.S.C. 2780(d)); orCommentsClose CommentsPermalink





(C) section 620A(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2371(a)).CommentsClose CommentsPermalink





(7) TRANSSHIPMENT, REEXPORTATION, OR DIVERSION- The term ‘transshipment, reexportation, or diversion’ means the exportation, directly or indirectly, of items that originated in the United States to an end-user whose identity cannot be verified or to an entity in Iran in violation of the laws or regulations of the United States by any means, including by--

(A) shipping such items through 1 or more foreign countries; or

(B) by using false information regarding the country of origin of such items14) UNITED STATES MUNITIONS LIST- The term ‘United States Munitions List’ means the list maintained pursuant to part 121 of the International Traffic in Arms Regulations (or any corresponding similar regulation or ruling).CommentsClose CommentsPermalink

SEC. 302. IDENTIFICATION OF LOCATIONCOUNTRIES OF CONCERN WITH RESPECT TO TRANSSHIPMENT, REEXPORTATION, ORHE DIVERSION OF CERTAIN ITEMS TO IRAN.GOODS, SERVICES, AND TECHNOLOGIES TO OR THROUGH IRAN.CommentsClose CommentsPermalink

(a) In General- Not later than 180 days after the date of the enactment of this Act, and annually thereafter, the Director of National Intelligence shall submit to the President, the Secretary of Defense, the Secretary of Commerce, the Secretary of State, the Secretary of the Treasury, and the appropriate congressional committees a report that identifies all countries that the Director determines are of concern with respect to transshipment, reexportation, or diversion of items subject to the provisions of the Export Administration Regulations to an entity in Iraneach country the government of which the Director believes, based on all information available to the Director, is allowing the diversion through the country of goods, services, or technologies described in subsection (b) to Iranian end-users or Iranian intermediaries.CommentsClose CommentsPermalink





(b) Goods, Services, and Technologies Described- Goods, services, or technologies described in this subsection are goods, services, or technologies--CommentsClose CommentsPermalink





(1) that--CommentsClose CommentsPermalink





(A) originated in the United States;CommentsClose CommentsPermalink





(B) would make a material contribution to Iran’s--CommentsClose CommentsPermalink





(i) development of nuclear, chemical, or biological weapons;CommentsClose CommentsPermalink





(ii) ballistic missile or advanced conventional weapons capabilities; orCommentsClose CommentsPermalink





(iii) support for international terrorism; andCommentsClose CommentsPermalink





(C) are--CommentsClose CommentsPermalink





(i) items on the Commerce Control List or services related to those items; orCommentsClose CommentsPermalink





(ii) defense articles or defense services on the United States Munitions List; orCommentsClose CommentsPermalink





(2) that are prohibited for export to Iran under a resolution of the United Nations Security Council.CommentsClose CommentsPermalink





(c) Updates- The Director of National Intelligence shall update the report required by subsection (a)--CommentsClose CommentsPermalink





(1) as new information becomes available; andCommentsClose CommentsPermalink





(2) not less frequently than annually.CommentsClose CommentsPermalink





(d) Form- The report required by subsection (a) and the updates required by subsection (c) may be submitted in classified form.CommentsClose CommentsPermalink

SEC. 303. DESTINATIONS OF POSSIBLE DIVERSION CONCERN AND DESTINATIONS OF DIVERSION CONCERN.CommentsClose CommentsPermalink

(a) Destinations of Possible Diversion Concern-(1) DESIGNATION- The Secretary of Commerceignation-CommentsClose CommentsPermalink





(1) IN GENERAL- The President shall designate a country as a Destination of Possible Diversion Concern if the Secretary, in consultation with the Secretary of State and the Secretary of the Treasury, determines that such designation is appropriate to carry out activities to strengthen the export control systems of that countryDiversion Concern if the President determines that the government of the country allows substantial diversion of goods, services, or technologies described in section 302(b) through the country to Iranian end-users or Iranian intermediaries.CommentsClose CommentsPermalink





(2) DETERMINATION OF SUBSTANTIAL- For purposes of paragraph (1), the President shall determine whether the government of a country allows substantial diversion of goods, services, or technologies described in section 302(b) through the country to Iranian end-users or Iranian intermediaries based on criteria that include--CommentsClose CommentsPermalink





(A) the volume of items that originated in the United States that are transported through the country to such goods, services, and technologies that are diverted through the country to such end-users whose identities cannot be verified;(B) the inadequacy of the export and reor intermediaries;CommentsClose CommentsPermalink





(B) the inadequacy of the export controls of the country;CommentsClose CommentsPermalink





(C) the unwillingness or demonstrated inability of the government of the country to control diversion activitthe diversion of such goods, services, and technologies to such end-users or intermediaries; andCommentsClose CommentsPermalink





(D) the unwillingness or inability of the government of the country to cooperate with the United States in interdiction effortsefforts to interdict the diversion of such goods, services, or technologies to such end-users or intermediaries.CommentsClose CommentsPermalink





(b) Report on Designation- Upon designating a country as a Destination of Diversion Concern under subsection (a), the President shall submit to the appropriate congressional committees a report--CommentsClose CommentsPermalink





(1) notifying those committees of the designation of the country; andCommentsClose CommentsPermalink





(2) containing a list of the goods, services, and technologies described in section 302(b) that the President determines are diverted through the country to Iranian end-users or Iranian intermediaries.CommentsClose CommentsPermalink





(c) Licensing Requirement- Not later than 45 days after submitting a report required by subsection (b) with respect to a country designated as a Destination of Diversion Concern under subsection (a), the President shall require a license under the Export Administration Regulations or the International Traffic in Arms Regulations (whichever is applicable) to export to that country a good, service, or technology on the list required under subsection (b)(2), with the presumption that any application for such a license will be denied.CommentsClose CommentsPermalink





(d) Delay of Imposition of Licensing Requirement-CommentsClose CommentsPermalink





(1) IN GENERAL- The President may delay the imposition of the licensing requirement under subsection (c) with respect to a country designated as a Destination of Diversion Concern under subsection (a) for a 12-month period if the President--CommentsClose CommentsPermalink





(A) determines that the government of the country is taking steps--CommentsClose CommentsPermalink





(i) to institute an export control system or strengthen the export control system of the country;CommentsClose CommentsPermalink





(ii) to interdict the diversion of goods, services, or technologies described in section 302(b) through the country to Iranian end-users or Iranian intermediaries; andCommentsClose CommentsPermalink





(iii) to comply with and enforce United Nations Security Council Resolutions 1696 (2006), 1737 (2006), 1747 (2007), 1803 (2008), and 1929 (2010), and any other resolution that is agreed to by the Security Council and imposes sanctions with respect to Iran;CommentsClose CommentsPermalink





(B) determines that it is appropriate to carry out government-to-government activities to strengthen the export control system of the country; andCommentsClose CommentsPermalink





(C) submits to the appropriate congressional committees a report describing the steps specified in subparagraph (A) being taken by the government of the country.CommentsClose CommentsPermalink





(2) ADDITIONAL 12-MONTH PERIODS- The President may delay the imposition of the licensing requirement under subsection (c) with respect to a country designated as a Destination of Diversion Concern under subsection (a) for additional 12-month periods after the 12-month period referred to in paragraph (1) if the President, for each such 12-month period--CommentsClose CommentsPermalink





(A) makes the determinations described in subparagraphs (A) and (B) of paragraph (1) with respect to the country; andCommentsClose CommentsPermalink





(B) submits to the appropriate congressional committees an updated version of the report required by subparagraph (C) of paragraph (1).CommentsClose CommentsPermalink





(3) STRENGTHENING EXPORT CONTROL SYSTEMS OF DESTINATIONS OF POSSIBLE DIVERSION CONCERN- If the Secretary of Commerce designates a country as a Destination of Possible Diversion Concern- If the President determines under paragraph (1), the United States shall initiate(B) that is it appropriate to carry out government-to-government activities described in paragraph (3) to strengthen the export control systems of the country.(3) GOVERNMENT-TO-GOVERNMENT ACTIVITIES DESCRIBED- The government-to-government activities described in this paragraph of a country designated as a Destination of Diversion Concern under subsection (a), the United States shall initiate government-to-government activities that may include--CommentsClose CommentsPermalink





(A) cooperation by agencies and departments of the United States with counterpart agencies and departments in a country designated as a Destination of Possible Diversion Concern under paragraph (1) to--(i)the country--CommentsClose CommentsPermalink





(i) to develop or strengthen the export control systems in the country;(ii) of the country;CommentsClose CommentsPermalink





(ii) to strengthen cooperation and mong agencies of the country and with the United States and facilitate enforcement of export the export control systems in of the country; andCommentsClose CommentsPermalink





(iii) to promote information and data exchanges among agencies of the country and with the United States;CommentsClose CommentsPermalink





and(B) efforts by the Office of International Programs of the Department of Commerce(B) training officials of the country to strengthen the export control systems of the country to--(i)--CommentsClose CommentsPermalink





(i) to facilitate legitimate trade in high-technology goods; and(ii)goods, services, and technologies; andCommentsClose CommentsPermalink





(ii) to prevent terrorists and state sponsors of terrorism, including Iran, from obtaining nuclear, biological, and chemical weapons, defense technologies, components for improvised explosive devices, and other defense items.

(b) Destinations of Diversion Concern-

(1) DESIGNATION- The Secretary of Commerce shall designate a country as a Destination of Diversion Concern if the Secretary, in consultation with the Secretary of State and the Secretary of the Treasury, determines--

(A) that the government of the country allows substantial transshipment, reexportation, or diversion of items that originated in the United States to end-users whose identities cannot be verified or to entities in Iran; or

(B) 12 months after the Secretary of Commerce designates the country as a Destination of Possible Diversion Concern under subsection (a)(1), that the country has failed--

(i) to cooperate with the government-to-government activities initiated by the United States under subsection (a)(2); or

(ii) based on the criteria described in subsection (a)(1), to adequately strengthen the export control systems of the country.

(2) LICENSING CONTROLS WITH RESPECT TO DESTINATIONS OF DIVERSION CONCERN-

(A) REPORT ON SUSPECT ITEMS-

(i) IN GENERAL- Not later than 45 days after the date of the enactment of this Act, the Secretary of Commerce, in consultation with the Director of National Intelligence, the Secretary of State, and the Secretary of the Treasury, shall submit to the appropriate congressional committees a report containing a list of items that, if the items were transshipped, reexported, or diverted to Iran, could contribute to--

(I) Iran obtaining nuclear, biological, or chemical weapons, defense technologies, components for improvised explosive devices, or other defense items; or

(II) support by Iran for acts of international terrorism.

(ii) CONSIDERATIONS FOR LIST- In developing the list required under clause (i), the Secretary of Commerce shall consider--

(I) the items subject to licensing requirements under section 742.8 of title 15, Code of Federal Regulations (or any corresponding similar regulation or ruling) and other existing licensing requirements; and

(II) the items added to the list of items for which a license is required for exportation to North Korea by the final rule of the Bureau of Export Administration of the Department of Commerce issued on June 19, 2000 (65 Fed. Reg. 38148; relating to export restrictions on North Korea).

(B) LICENSING REQUIREMENT- Not later than 180 days after the date of the enactment of this Act, the Secretary of Commerce shall require a license to export an item on the list required under subparagraph (A)(i) to a country designated as a Destination of Diversion Concern.

(C) WAIVER- The President may waive the imposition of the licensing requirement under subparagraph (B) with respect to a country designated as a Destination of Diversion Concern if the President--

(i) determines that such a waiver is in the national interest of the United States; and

(ii) submits to the appropriate congressional committees a report describing the reasons for the determination.

(carticles; andCommentsClose CommentsPermalink




(C) encouraging the government of the country to participate in the Proliferation Security Initiative, such as by entering into a ship boarding agreement pursuant to the Initiative.CommentsClose CommentsPermalink





(e) Termination of Designation- The designation of a country as a Destination of Possible Diversion Concern or a Destination of Diversion ConcernDiversion Concern under subsection (a) shall terminate on the date on which the Secretary of Commerce determines, based on the criteria described in subparagraphs (A) through (D) of subsection (a)(1), and certifies to Congress and the PresidentPresident determines, and certifies to the appropriate congressional committees, that the country has adequately strengthened the export control systems of the country to prevent transshipment, reexportation, and diversion of items through the country to end-users whose identities cannot be verified or to entities in Iran.(d) Authorization of Appropriations- There are authorized to be appropriated such sums as may be necessary to carry out this section of the country to prevent the diversion of goods, services, and technologies described in section 302(b) to Iranian end-users or Iranian intermediaries.CommentsClose CommentsPermalink





(f) Form of Reports- A report required by subsection (b) or (d) may be submitted in classified form.CommentsClose CommentsPermalink

SEC. 304. REPORT ON EXPANDING DIVERSION CONCERN SYSTEM TO ADDRESS THE DIVERSION OF UNITED STATES ORIGIN GOODS, SERVICES, AND TECHNOLOGIES TO CERTAIN COUNTRIES OTHER THAN IRAN.CommentsClose CommentsPermalink

Not later than 180 days after the date of the enactment of this Act, the Director of National Intelligence, in consultation with the Secretary of Commerce, the Secretary of State, and the Secretary of the Treasury, shall submit to the appropriate congressional committees a report that--

(1) (a) In General- Not later than 1 year after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a report that-- CommentsClose CommentsPermalink




(1) identifies any country that the Director determines may be transshipping, reexporting, or diverting items subject to the provisions of the Export Administration RegulationPresident determines is allowing the diversion, in violation of United States law, of items on the Commerce Control List or services related to those items, or defense articles or defense services on the United States Munitions List, that originated in the United States to another country if such other country--CommentsClose CommentsPermalink





(A) is seeking to obtain nuclear, biological, or chemical weapons, defense technologies, components for improvised explosive devices, or other defense itemor ballistic missiles; orCommentsClose CommentsPermalink





(B) provides support for acts of international terrorism; andCommentsClose CommentsPermalink





(2) assesses the feasability and advisability of expanding the system established under section 303 for designating countries as Destinations of Possible Diversion Concern and Destinations of DiversionDiversion Concern to include countries identified under paragraph (1).CommentsClose CommentsPermalink





(b) Form- The report required by subsection (a) may be submitted in classified form.CommentsClose CommentsPermalink

TITLE IV--EFFECTIVE DATE; SUNSETSEC. 401. EFFECTIVE DATE; SUNSETGENERAL PROVISIONSCommentsClose CommentsPermalink

SEC. 401. GENERAL PROVISIONS.CommentsClose CommentsPermalink

(a) Effective Date- Except as provided iSunset- The provisions of this Act (other than sections 104, 202, and 303(b)(2), the provisions of, and5 and 305 and the amendments made by, this Act shall take effect on the date that is 120 days after the date of the enactment of this Act.(b) Sunset- The provisions of this Act shall terminate sections 102, 107, 109, and 205) shall terminate, and section 13(c)(1)(B) of the Investment Company Act of 1940, as added by section 203(a), shall cease to be effective, on the date that is 30 days after the date on which the President certifies to Congress that--CommentsClose CommentsPermalink





(1) the Government of Iran has ceased providing support for acts of international terrorism and no longer satisfies the requirements for designation as a state sponsor of terrorism (as defined in section 301) under--CommentsClose CommentsPermalink





(A) section 6(j)(1)(A) of the Export Administration Act of 1979 (50 U.S.C. App. 2405(j)(1)(A)) (or any successor thereto);CommentsClose CommentsPermalink





(B) section 40(d) of the Arms Export Control Act (22 U.S.C. 2780(d)); orCommentsClose CommentsPermalink





(C) section 620A(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2371(a)); andCommentsClose CommentsPermalink





(2) Iran has ceased the pursuit, acquisition, and development of nuclear, biological, and chemical weapons and ballistic missiles and ballistic missile launch technology.CommentsClose CommentsPermalink





Attest:

Secretary.

111th CONGRESS

2d Session

H.R. 2194

AMENDMENT

(b) Presidential Waivers- CommentsClose CommentsPermalink




(1) IN GENERAL- The President may waive the application of sanctions under section 103(b), the requirement to impose or maintain sanctions with respect to a person under section 105(a), the requirement to include a person on the list required by section 105(b), the application of the prohibition under section 106(a), or the imposition of the licensing requirement under section 303(c) with respect to a country designated as a Destination of Diversion Concern under section 303(a), if the President determines that such a waiver is in the national interest of the United States.CommentsClose CommentsPermalink





(2) REPORTS-CommentsClose CommentsPermalink





(A) IN GENERAL- If the President waives the application of a provision pursuant to paragraph (1), the President shall submit to the appropriate congressional committees a report describing the reasons for the waiver.CommentsClose CommentsPermalink





(B) SPECIAL RULE FOR REPORT ON WAIVING IMPOSITION OF LICENSING REQUIREMENT UNDER SECTION 303(c)- In any case in which the President waives, pursuant to paragraph (1), the imposition of the licensing requirement under section 303(c) with respect to a country designated as a Destination of Diversion Concern under section 303(a), the President shall include in the report required by subparagraph (A) of this paragraph an assessment of whether the government of the country is taking the steps described in subparagraph (A) of section 303(d)(1).CommentsClose CommentsPermalink





(c) Authorizations of Appropriations-CommentsClose CommentsPermalink





(1) AUTHORIZATION OF APPROPRIATIONS FOR THE DEPARTMENT OF STATE AND THE DEPARTMENT OF THE TREASURY- There are authorized to be appropriated to the Secretary of State and to the Secretary of the Treasury such sums as may be necessary to implement the provisions of, and amendments made by, titles I and III of this Act.CommentsClose CommentsPermalink





(2) AUTHORIZATION OF APPROPRIATIONS FOR THE DEPARTMENT OF COMMERCE- There are authorized to be appropriated to the Secretary of Commerce such sums as may be necessary to carry out title III.CommentsClose CommentsPermalink