I 

114TH CONGRESS 

1ST SESSION H. R. 4312 

To provide for more effective sanctions against Iran’s Revolutionary Guard 

Corps or any of its officials, agents, or affiliates to counter support 

for international terrorism and assistance to the Assad regime in Syria. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 18, 2015 

Mr. SHERMAN (for himself, Mr. ROYCE, Ms. MENG, Ms. ROS-LEHTINEN, Mr. 

ROSKAM, and Mr. WEBER of Texas) introduced the following bill; which 

was referred to the Committee on Foreign Affairs, and in addition to the 

Committees on Financial Services, Ways and Means, Oversight and Government Reform, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions 

as fall within the jurisdiction of the committee concerned 

A BILL 

To provide for more effective sanctions against Iran’s Revolutionary Guard Corps or any of its officials, agents, or 

affiliates to counter support for international terrorism 

and assistance to the Assad regime in Syria. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Iran’s Revolutionary 

5 Guard Corps Sanctions Implementation and Review Act’’. 


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1 SEC. 2. FINDINGS. 

2 Congress makes the following findings: 

3 (1) Iran’s Revolutionary Guard Corps (IRGC) 

4 has helped to train and equip proxy groups and 

5 Iraqi Shiite insurgents, and elements of the Taliban, 

6 which have targeted and killed United States and 

7 other allied forces in Iraq and Afghanistan. 

8 (2) The IRGC has provided Hezbollah, Hamas, 

9 and the Palestinian Islamic Jihad with funding, 

10 training, and other material support to conduct their 

11 terrorist activities and missile attacks against Israel, 

12 in an effort to cause civilian casualties and disrupt 

13 efforts for peace between Israel and its neighbors, 

14 and to destabilize Lebanon. 

15 (3) Iran has repeatedly been identified as the 

16 most active state sponsor of terrorism by the De17 partment of State, and the IRGC, often operating 

18 through its Qods Force, is the principal instrument 

19 for Iranian support for terror. 

20 (4) The Government of Iran continues to en21 gage in serious, systematic, and ongoing violations of 

22 human rights, including suppression of freedom of 

23 expression and religious freedom, illegitimate deten24 tion, torture, and executions, without affording any25 thing resembling adequate due process. 


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1 (5) The IRGC plays a significant role in many 

2 of Iran’s human rights abuses. 

3 (6) The IRGC currently dominates many sec4 tors of the Iranian economy, with a significant pres5 ence in Iran’s financial and commercial sectors and 

6 extensive economic interests in the defense produc7 tion, construction, and oil industries, controlling bil8 lions of dollars in corporate business. 

9 (7) The IRGC operates through affiliated firms, 

10 front companies, and foundations in order to serve 

11 its economic interests and exert control over large 

12 segments of Iran’s economy. 

13 (8) Many of the IRGC’s personnel have been 

14 enriched through control of these affiliated busi15 nesses and foundations, and through corruption in 

16 the operation of the businesses and their dealings 

17 with the Government of Iran. 

18 (9) The IRGC has assisted the regime of Syrian 

19 President Bashar al Assad by training, equipping, 

20 and aiding the regime’s security and military forces, 

21 through military advice, provision of weapons, and 

22 funding. 

23 (10) The United States Government designated 

24 the IRGC in 2007 under Executive Order 13382 for 

25 proliferation concerns and, separately, the Qods 


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1 Force under Executive Order 13224, for its support 

2 for terrorist organizations. 

3 (11) Section 104 of the Comprehensive Iran 

4 Sanctions, Accountability, and Divestment Act of 

5 2010 provided for secondary sanctions against any 

6 financial institution that handles a significant trans7 action for designated Iranian entities, including the 

8 IRGC, its Qods Force, and other related entities. 

9 (12) Title III of the Iran Threat Reduction and 

10 Syrian Human Rights Act of 2012 provided for ad11 ditional secondary sanctions against firms that con12 duct business of any kind with the IRGC or related 

13 entities, and provided for the designation of addi14 tional Iranians’ entities related to the IRGC. 

15 (13) The Joint Comprehensive Plan of Action 

16 concerning Iran’s nuclear program does not require 

17 the United States to lift or waive the sanctions 

18 against the IRGC or related entities. 

19 (14) On September 15, 2015, then Acting Un20 dersecretary of the Treasury for Terrorism and Fi21 nancial Intelligence, Adam Szubin, stated that ‘‘we 

22 are not providing any sanctions relief to the IRGC, 

23 or to its Qods Force, or any of its officials or sub24 sidiaries’’ and ‘‘we will continue our campaign 

25 against the IRGC and the Qods Force’’. 


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1 (15) Strengthening sanctions against the IRGC, 

2 ensuring that the United States Government identify 

3 and designate more of the affiliated entities through 

4 which the IRGC operates, and providing for addi5 tional secondary sanctions on firms that assist the 

6 IRGC, will help deprive the IRGC of resources need7 ed to carry out its nefarious activities. 

8 SEC. 3. MODIFICATION OF IMPOSITION OF SANCTIONS 

9 WITH RESPECT TO PERSONS THAT SUPPORT 

10 OR CONDUCT CERTAIN TRANSACTIONS WITH 

11 IRAN’S REVOLUTIONARY GUARD CORPS OR 

12 OTHER SANCTIONED PERSONS. 

13 (a) MODIFICATION OF IMPOSITION OF SANCTIONS.— 

14 Subsection (b) of section 302 of the Iran Threat Reduc15 tion and Syrian Human Rights Act of 2012 (22 U.S.C. 

16 8742) is amended by striking ‘‘the President—’’ and all 

17 that follows and inserting ‘‘the President shall block and 

18 prohibit all transactions in property and interests in prop19 erty with respect to such foreign person if such property 

20 and interests in property are in the United States, come 

21 within the United States, or are or come within the posses22 sion or control of a United States person.’’. 

23 (b) SPECIAL LICENSING AUTHORITY.—Such section, 

24 as so amended, is further amended by striking subsection 

25 (f) and inserting the following: 


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1 ‘‘(f) SPECIAL LICENSING AUTHORITY.— 

2 ‘‘(1) IN GENERAL.—The President is author3 ized to issue licenses to United States persons to en4 gage in transactions in property and interests in 

5 property with respect to a foreign person that is 

6 subject to imposition of sanctions under subsection 

7 (b) notwithstanding the imposition of such sanctions 

8 with respect to the foreign person. 

9 ‘‘(2) REGULATIONS.—Not later than 90 days 

10 after the date of the enactment of this subsection, 

11 the President shall issue regulations to implement 

12 this subsection.’’. 

13 SEC. 4. REPORT BY COMPTROLLER GENERAL OF THE 

14 UNITED STATES. 

15 (a) IN GENERAL.—Not later than 180 days after the 

16 date of the enactment of this Act, and annually thereafter, 

17 the Comptroller General of the United States shall submit 

18 to the President and the appropriate congressional com19 mittees a report— 

20 (1) identifying foreign persons not currently 

21 subject to sanctions under subsection (b) of section 

22 302 of the Iran Threat Reduction and Syrian 

23 Human Rights Act of 2012 (22 U.S.C. 8742) (as 

24 amended by section 3 of this Act), for knowingly en25 gaging in an activity described in subsection (a)(1) 


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1 of such section that, within the preceding three 

2 years, have been reported to have conducted trans3 actions or have provided material support to Iran’s 

4 Revolutionary Guard Corps or any blocked entity 

5 that has been designated as a front, agent, or affil6 iate of Iran’s Revolutionary Guard Corps, or other7 wise is designated on the list of specially designated 

8 nationals and blocked persons maintained by the Of9 fice of Foreign Assets Control of the Department of 

10 the Treasury with the identifier ‘‘IRGC’’; and 

11 (2) identifying foreign persons not currently on 

12 the list of specially designated nationals and blocked 

13 persons maintained by the Office of Foreign Assets 

14 Control of the Department of the Treasury that, 

15 within the preceding three years, are reported to be 

16 under the ownership and control of Iran’s Revolu17 tionary Guard Corps, or are reported to be a front, 

18 agent, or affiliate of Iran’s Revolutionary Guard 

19 Corps, including foreign persons whose officers, offi20 cials, or those directing activity of the persons are 

21 reportedly officers, officials, or other persons acting 

22 on behalf of Iran’s Revolutionary Guard Corps or its 

23 designated fronts, agents, or affiliates. 

24 (b) SOURCES FOR REPORT.—The Comptroller Gen25 eral of the United States shall utilize any credible publicaVerDate Sep 11 2014 03:13 Dec 24, 2015 Jkt 059200 PO 00000 Frm 00007 Fmt 6652 Sfmt 6201 E:\BILLS\H4312.IH H4312

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1 tion, database, web-based resource and any credible infor2 mation compiled by any government agency, non-govern3 mental organization, or other entity provided to or made 

4 available to the Comptroller General, including informa5 tion from foreign persons identified in the report. 

6 SEC. 5. REVIEW, SANCTIONS, AND REPORT BY PRESIDENT. 

7 (a) REVIEW.—Not later than 180 days after the date 

8 on which the report is submitted to the President and the 

9 appropriate congressional committees under section 4, the 

10 President shall conduct and complete a review of the for11 eign persons identified in the report to determine, using 

12 all sources available, whether there is sufficient evidence 

13 to impose sanctions against any of the foreign persons. 

14 (b) SANCTIONS.—Unless the President determines 

15 under subsection (a) that there is insufficient evidence to 

16 impose sanctions against a foreign person identified in the 

17 report submitted to the President and the appropriate con18 gressional committees under section 4, the President shall 

19 include the foreign person on the list of specially des20 ignated nationals and blocked persons maintained by the 

21 Office of Foreign Assets Control of the Department of the 

22 Treasury, impose sanctions against the foreign persons 

23 under subsection (b) of section 302 of the Iran Threat 

24 Reduction and Syrian Human Rights Act of 2012 (22 

25 U.S.C. 8742) (as amended by section 3 of this Act), or 


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1 impose sanctions against the foreign person under any 

2 other provision of law, as applicable. 

3 (c) REPORT.—The President shall submit to the ap4 propriate congressional committees a report that contains 

5 the results of the review under subsection (a) and the im6 position of sanctions under subsection (b) (if any). The 

7 report should be submitted in unclassified form, but may 

8 contain a classified annex. 

9 SEC. 6. SECURITIES AND EXCHANGE FILING REQUIRE10 MENTS. 

11 (a) IN GENERAL.—Section 13(r)(1)(D) of the Securi12 ties Exchange Act of 1934 (15 U.S.C. 78m(r)(1)(D)) is 

13 amended— 

14 (1) in clause (ii), by striking ‘‘or’’ at the end; 

15 (2) in clause (iii), by striking the period at the 

16 end and inserting ‘‘; or’’; and 

17 (3) by adding at the end the following: 

18 ‘‘(iv) any foreign person identified in 

19 the most recent report of the Comptroller 

20 General of the United States submitted 

21 under section 4 of the Iran’s Revolutionary 

22 Guard Corps Sanctions Implementation 

23 and Review Act prior to the commence24 ment of the transaction or dealing.’’. 


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1 (b) EFFECTIVE DATE.—The amendment made by 

2 subsection (a) shall take effect with respect to reports re3 quired to be filed with the Securities and Exchange Com4 mission after the date that is 180 days after the date of 

5 the enactment of this Act. 

6 SEC. 7. APPROPRIATE CONGRESSIONAL COMMITTEES DE7 FINED. 

8 In this Act, the term ‘‘appropriate congressional com9 mittees’’ means— 

10 (1) the Committee on Foreign Affairs of the 

11 House of Representatives; and 

12 (2) the Committee on Foreign Relations of the 

13 Senate. 

Æ 


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