S.3445 - Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2008

An original bill to impose sanctions with respect to Iran, to provide for the divestment of assets in Iran by State and local governments and other entities, to identify locations of concern with respect to transshipment, reexportation, or diversion of certain sensitive items to Iran, and for other purposes. view all titles (3)

All Bill Titles

  • Official: An original bill to impose sanctions with respect to Iran, to provide for the divestment of assets in Iran by State and local governments and other entities, to identify locations of concern with respect to transshipment, reexportation, or diversion of certain sensitive items to Iran, and for other purposes. as introduced.
  • Short: Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2008 as introduced.
  • Short: Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2008 as reported to senate.

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07/31/08
 
 
 
 
 
 
 

Official Summary

8/1/2008--Introduced.Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2008 - Subjects Iran to specified economic sanctions, including import and export prohibitions. Subjects a U.S. person to penalties for violations of certain sanctions committed by a subsidiary establi

Official Summary

8/1/2008--Introduced.
Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2008 - Subjects Iran to specified economic sanctions, including import and export prohibitions. Subjects a U.S. person to penalties for violations of certain sanctions committed by a subsidiary established by such person outside of the United States that would be subject to prohibitions if committed inside the United States or by a U.S. person. Authorizes appropriations for the Department of the Treasury's Office of Terrorism and Financial Intelligence and for the Financial Crimes Enforcement Network. Urges the President to impose sanctions on the Central Bank of Iran and any other Iranian banks engaged in the support of terrorist groups. Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit investment of assets in, persons that have direct or indirect investments in Iran's energy sector of more than $20 million. Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, securities issued by companies with such investments in the energy sector of Iran. Requires the Director of National Intelligence to report to the Secretary of Commerce, the Secretary of State, the Secretary of the Treasury, and appropriate congressional committees on all countries of concern with respect to the transshipment, reexportation, or diversion of certain export controlled items to Iran. Provides for the designation of a country as a Destination of Possible Diversion Concern requiring the United States to initiate certain government-to-government activities to strengthen that country's export control systems. Designates as a Destination of Diversion Concern any country that has engaged in the transshipment, reexportation, or diversion of U.S.-originating controlled items to unverifiable end users or to Iran, or that has failed to adequately strengthen its export control systems. Requires a license to export to a country designated a Destination of Diversion Concern controlled items that could contribute to Iran's obtaining nuclear weapons, biological, or chemical weapons, or its support for acts of international terrorism.


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