I 

114TH CONGRESS 

2D SESSION H. R. 5461 

To require the Secretary of the Treasury to submit a report to the appropriate 

congressional committees on the estimated total assets under direct or 

indirect control by certain senior Iranian leaders and other figures, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 13, 2016 

Mr. POLIQUIN (for himself and Mr. HILL) introduced the following bill; which 

was referred to the Committee on Financial Services, and in addition to 

the Committee on Foreign Affairs, 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 require the Secretary of the Treasury to submit a report 

to the appropriate congressional committees on the estimated total assets under direct or indirect control by 

certain senior Iranian leaders and other figures, and 

for other purposes. 

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 ‘‘Iranian Leadership 

5 Asset Transparency Act’’. 


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1 SEC. 2. FINDINGS. 

2 The Congress finds the following: 

3 (1) Iran is characterized by high levels of offi4 cial and institutional corruption, and substantial in5 volvement by Iran’s security forces, particularly the 

6 Islamic Revolutionary Guard Corps (IRGC), in the 

7 economy. 

8 (2) Many members of Iran’s senior political and 

9 military leadership have acquired significant per10 sonal and institutional wealth by using their posi11 tions to secure control of significant portions of 

12 Iran’s national economy. 

13 (3) Sanctions relief provided through the Joint 

14 Comprehensive Plan of Action has resulted in the re15 moval of many Iranian entities that are tied to gov16 ernmental corruption from the list of entities sanc17 tioned by the United States. 

18 (4) The Department of Treasury in 2011 des19 ignated the Islamic Republic of Iran’s financial sec20 tor as a jurisdiction of primary money laundering 

21 concern under section 311 of the USA PATRIOT 

22 Act, stating ‘‘Treasury has for the first time identi23 fied the entire Iranian financial sector; including 

24 Iran’s Central Bank, private Iranian banks, and 

25 branches, and subsidiaries of Iranian banks operVerDate Sep 11 2014 04:05 Jun 14, 2016 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H5461.IH H5461

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1 ating outside of Iran as posing illicit finance risks 

2 for the global financial system.’’. 

3 (5) Iran continues to be listed by the Financial 

4 Action Task Force (FATF) among the ‘‘Non-Coop5 erative Countries or Territories’’—countries which it 

6 perceived to be non-cooperative in the global fight 

7 against terror finance and money laundering. 

8 (6) Iran and North Korea are the only coun9 tries listed by the FATF as ‘‘Non-Cooperative Coun10 tries or Territories’’ against which FATF countries 

11 should take measures. 

12 (7) The Transparency International index of 

13 perceived public corruption ranks Iran 130th out of 

14 168 countries surveyed. 

15 (8) The State Department identified Iran as a 

16 country/jurisdiction of ‘‘primary concern’’ for money 

17 laundering in its 2014 International Narcotics Con18 trol Strategy Report (INCSR). 

19 (9) The State Department currently identifies 

20 Iran, along with Sudan and Syria, as a state sponsor 

21 of terrorism, ‘‘having repeatedly provided support 

22 for acts of international terrorism’’. 

23 (10) The State Department’s ‘‘Country Reports 

24 on Terrorism’’, published last in June 2015 noted 

25 that ‘‘Iran continued to sponsor terrorist groups 


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1 around the world, principally through its Islamic 

2 Revolutionary Guard Corps–Qods Force (IRGC– 

3 QF). These groups included Lebanese Hizballah, 

4 several Iraqi Shia militant groups, Hamas, and Pal5 estine Islamic Jihad. Iran, Hizballah, and other Shia 

6 militia continued to provide support to the Asad re7 gime, dramatically bolstering its capabilities, pro8 longing the civil war in Syria, and worsening the 

9 human rights and refugee crisis there.’’. 

10 (11) The Iranian Government’s tolerance of 

11 corruption and nepotism in business limits opportu12 nities for foreign and domestic investment, particu13 larly given the significant involvement of the IRGC 

14 in many sectors of Iran’s economy. 

15 (12) The IRGC and the leadership-controlled 

16 bonyads (foundations) control an estimated one-third 

17 of Iran’s total economy, including large portions of 

18 Iran’s telecommunications, construction, and airport 

19 and port operations. These operations give the IRGC 

20 and bonyads vast funds to support terrorist organi21 zations such as Hezbollah and Hamas. 

22 (13) By gaining control of major economic sec23 tors, the IRGC and bonyads have also served to fur24 ther disadvantage the average Iranian. 


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1 SEC. 3. REPORT REQUIREMENT RELATING TO ASSETS OF 

2 IRANIAN LEADERS AND CERTAIN SENIOR PO3 LITICAL FIGURES. 

4 (a) IN GENERAL.—Not later than 270 days after the 

5 date of enactment of this Act, and annually thereafter (or 

6 more frequently if the Secretary of the Treasury deter7 mines it appropriate based on new information received 

8 by the Secretary) for the following 2 years, the Secretary 

9 of the Treasury shall, in furtherance of the Secretary’s 

10 efforts to prevent the financing of terrorism, money laun11 dering, or related illicit finance and to make financial in12 stitutions’ required compliance with remaining sanctions 

13 more easily understood, submit a report to the appropriate 

14 congressional committees containing— 

15 (1) the estimated total funds or assets held in 

16 accounts at U.S. and foreign financial institutions 

17 that are under direct or indirect control by each nat18 ural person described in subsection (b) and a de19 scription of such assets; 

20 (2) an identification of any equity stake such 

21 natural person has in an entity on the Department 

22 of the Treasury’s list of Specially Designated Na23 tionals or in any other sanctioned entity; 

24 (3) a description of how such funds or assets or 

25 equity interests were acquired, and how they have 

26 been used or employed; and 


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1 (4) a description of any new methods or tech2 niques used to evade anti-money laundering and re3 lated laws, including recommendations to improve 

4 techniques to combat illicit uses of the U.S. financial 

5 system by each natural person described in sub6 section (b). 

7 (b) PERSONS DESCRIBED.—The natural persons de8 scribed in this subsection are the following: 

9 (1) The Supreme Leader of Iran. 

10 (2) The President of Iran. 

11 (3) Members of the Council of Guardians. 

12 (4) Members of the Expediency Council. 

13 (5) The Minister of Intelligence and Security. 

14 (6) The Commander and the Deputy Com15 mander of the IRGC. 

16 (7) The Commander and the Deputy Com17 mander of the IRGC Ground Forces. 

18 (8) The Commander and the Deputy Com19 mander of the IRGC Aerospace Force. 

20 (9) The Commander and the Deputy Com21 mander of the IRGC Navy. 

22 (10) The Commander of the Basij-e23 Mostaz’afin. 

24 (11) The Commander of the Qods Force. 


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1 (12) The Commander in Chief of the Police 

2 Force. 

3 (13) The head of the IRGC Joint Staff. 

4 (14) The Commander of the IRGC Intelligence. 

5 (15) The head of the IRGC Imam Hussein Uni6 versity. 

7 (16) The Supreme Leader’s Representative at 

8 the IRGC. 

9 (17) The Chief Executive Officer and the 

10 Chairman of the IRGC Cooperative Foundation. 

11 (18) The Commander of the Khatam-al-Anbia 

12 Construction Head Quarter. 

13 (19) The Chief Executive Officer of the Basij 

14 Cooperative Foundation. 

15 (20) The head of the Political Bureau of the 

16 IRGC. 

17 (c) FORM OF REPORT; PUBLIC AVAILABILITY.— 

18 (1) FORM.—The report required under sub19 section (a) shall be submitted in unclassified form 

20 but may contain a classified annex. 

21 (2) PUBLIC AVAILABILITY.—The unclassified 

22 portion of such report shall be made available to the 

23 public and posted on the website of the Department 

24 of the Treasury— 


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1 (A) in English, Farsi, Arabic, and Azeri; 

2 and 

3 (B) in precompressed, easily downloadable 

4 versions that are made available in all appro5 priate formats. 

6 (d) SOURCES OF INFORMATION.—In preparing a re7 port described under subsection (a), the Secretary of the 

8 Treasury may utilize any credible publication, database, 

9 web-based resource, and any credible information compiled 

10 by any government agency, nongovernmental organization, 

11 or other entity provided to or made available to the Sec12 retary. 

13 (e) DEFINITIONS.—For purposes of this section: 

14 (1) APPROPRIATE CONGRESSIONAL COMMIT15 TEES.—The term ‘‘appropriate congressional com16 mittees’’ means the Committee on Financial Services 

17 of the House of Representatives and the Committee 

18 on Banking, Housing, and Urban Affairs of the Sen19 ate. 

20 (2) FUNDS.—The term ‘‘funds’’ means— 

21 (A) cash; 

22 (B) equity; 

23 (C) any other intangible asset whose value 

24 is derived from a contractual claim, including 

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1 fined in section 2(a) of the Securities Act of 

2 1933 (15 U.S.C. 77b(a)), or a security or an 

3 equity security as defined in section 3(a) of the 

4 Securities Exchange Act of 1934 (15 U.S.C. 

5 78c(a)); and 

6 (D) anything else that the Secretary deter7 mines appropriate. 

Æ 


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