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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2799 Reported in Senate (RS)]

                                                       Calendar No. 215
111th CONGRESS
  1st Session
                                S. 2799

                          [Report No. 111-99]

To expand the Iran Sanctions Act of 1996, 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.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           November 19, 2009

 Mr. Dodd, from the Committee on Banking, Housing, and Urban Affairs, 
 reported the following original bill; which was read twice and placed 
                            on the calendar

_______________________________________________________________________

                                 A BILL

 
To expand the Iran Sanctions Act of 1996, 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.

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

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Comprehensive Iran 
Sanctions, Accountability, and Divestment Act of 2009''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings.
Sec. 3. Sense of Congress regarding illicit nuclear activities and 
                            violations of human rights in Iran.
                           TITLE I--SANCTIONS

Sec. 101. Definitions.
Sec. 102. Expansion of sanctions under the Iran Sanctions Act of 1996.
Sec. 103. Economic sanctions relating to Iran.
Sec. 104. Liability of parent companies for violations of sanctions by 
                            foreign subsidiaries.
Sec. 105. Prohibition on procurement contracts with persons that export 
                            sensitive technology to Iran.
Sec. 106. Increased capacity for efforts to combat unlawful or 
                            terrorist financing.
Sec. 107. Reporting requirements.
Sec. 108. Sense of Congress regarding the imposition of sanctions on 
                            the Central Bank of Iran.
Sec. 109. Policy of the United States regarding Iran's Revolutionary 
                            Guard Corps and its affiliates.
Sec. 110. Policy of the United States with respect to Iran and 
                            Hezbollah.
Sec. 111. Sense of Congress regarding the imposition of multilateral 
                            sanctions with respect to Iran.
    TITLE II--DIVESTMENT FROM CERTAIN COMPANIES THAT INVEST IN IRAN

Sec. 201. Definitions.
Sec. 202. Authority of State and local governments to divest from 
                            certain companies that invest in Iran.
Sec. 203. Safe harbor for changes of investment policies by asset 
                            managers.
Sec. 204. Sense of Congress regarding certain ERISA plan investments.
TITLE III--PREVENTION OF TRANSSHIPMENT, REEXPORTATION, OR DIVERSION OF 
                        SENSITIVE ITEMS TO IRAN

Sec. 301. Definitions.
Sec. 302. Identification of locations of concern with respect to 
                            transshipment, reexportation, or diversion 
                            of certain items to Iran.
Sec. 303. Destinations of Possible Diversion Concern and Destinations 
                            of Diversion Concern.
Sec. 304. Report on expanding diversion concern system to countries 
                            other than Iran.
                    TITLE IV--EFFECTIVE DATE; SUNSET

Sec. 401. Effective date; sunset.

SEC. 2. FINDINGS.

    Congress makes the following findings:
            (1) The illicit nuclear activities of the Government of 
        Iran and its support for international terrorism represent 
        threats to the security of the United States, its strong ally 
        Israel, and other allies of the United States around the world.
            (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.
            (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 
        cease those activities and comply with its obligations under 
        the Treaty on 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'').
            (4) The serious and urgent nature of the threat from Iran 
        demands that the United States work together with its allies to 
        prevent Iran from acquiring a nuclear weapons capability.
            (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.
            (6) There is an increasing interest by States, local 
        governments, educational institutions, and private institutions 
        to seek 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.
            (7) Black market proliferation networks continue to 
        flourish in the Middle East, allowing countries like Iran to 
        gain access to sensitive dual-use technologies.
            (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, 
        2009.

SEC. 3. SENSE OF CONGRESS REGARDING ILLICIT NUCLEAR ACTIVITIES AND 
              VIOLATIONS OF HUMAN RIGHTS IN IRAN.

    It is the sense of Congress that--
            (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) additional measures should be adopted by the United 
        States to prevent the diversion and transshipment of sensitive 
        dual-use technologies to Iran;
            (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;
            (5) the President should--
                    (A) continue to press the Government of Iran to 
                respect the internationally recognized human rights and 
                religious freedoms of its citizens;
                    (B) identify the officials of the Government of 
                Iran that are responsible for continuing and severe 
                violations of human rights and religious freedom in 
                Iran; and
                    (C) take appropriate measures to respond to such 
                violations, including by--
                            (i) prohibiting officials the President 
                        identifies as being responsible for such 
                        violations from entry into the United States; 
                        and
                            (ii) freezing the assets of those 
                        officials; and
            (6) 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.

                           TITLE I--SANCTIONS

SEC. 101. DEFINITIONS.

    In this title:
            (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).
            (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).
            (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).
            (4) Family member.--The term ``family member'' means, with 
        respect to an individual, the spouse, children, grandchildren, 
        or parents of the individual.
            (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 diplomats and representatives of 
        other government and military or quasi-governmental 
        institutions of Iran'' has the meaning given that term in 
        section 14(11) of the Iran Sanctions Act of 1996 (Public Law 
        104-172; 50 U.S.C. 1701 note).
            (8) 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).
            (9) 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).

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

    (a) In General.--Section 5 of the Iran Sanctions Act of 1996 
(Public Law 104-172; 50 U.S.C. 1701 note) is amended by striking 
subsection (a) and inserting the following:
    ``(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.--
            ``(1) Development of petroleum resources of iran.--
                    ``(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) of 
                section 6(a) with respect to a person if the President 
                determines that the person, with actual knowledge, on 
                or after the effective date of the Comprehensive Iran 
                Sanctions, Accountability, and Divestment Act of 2009--
                            ``(i) makes an investment described in 
                        subparagraph (B) of $20,000,000 or more; or
                            ``(ii) makes a combination of investments 
                        described in subparagraph (B) in a 12-month 
                        period if each such investment is at least 
                        $5,000,000 and such investments equal or exceed 
                        $20,000,000 in the aggregate.
                    ``(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.
            ``(2) Production of refined petroleum products.--
                    ``(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 date of the 
                Comprehensive Iran Sanctions, Accountability, and 
                Divestment Act of 2009, sells, leases, or provides to 
                Iran any goods, services, technology, information, or 
                support described in subparagraph (B)--
                            ``(i) any of which has a fair market value 
                        of $200,000 or more; or
                            ``(ii) that, during a 12-month period, have 
                        an aggregate fair market value of $1,000,000 or 
                        more.
                    ``(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 assistance with respect to construction, 
                modernization, or repair of petroleum refineries.
            ``(3) Exportation of refined petroleum products to iran.--
                    ``(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 date of the 
                Comprehensive Iran Sanctions, Accountability, and 
                Divestment Act of 2009--
                            ``(i) provides Iran with refined petroleum 
                        products--
                                    ``(I) that have a fair market value 
                                of $200,000 or more; or
                                    ``(II) that, during a 12-month 
                                period, have an aggregate fair market 
                                value of $1,000,000 or more; or
                            ``(ii) sells, leases, or provides to Iran 
                        any goods, services, technology, information, 
                        or support described in subparagraph (B)--
                                    ``(I) any of which has a fair 
                                market value of $200,000 or more; or
                                    ``(II) that, during a 12-month 
                                period, have an aggregate fair market 
                                value of $1,000,000 or more.
                    ``(B) Goods, services, technology, information, or 
                support described.--Goods, services, technology, 
                information, or support described in this subparagraph 
                are goods, services, technology, or support that could 
                directly and significantly contribute to the 
                enhancement of Iran's ability to import refined 
                petroleum products, including--
                            ``(i) underwriting or otherwise providing 
                        insurance or reinsurance for the sale, lease, 
                        or provision of such goods, services, 
                        technology, information, or support;
                            ``(ii) financing or brokering such sale, 
                        lease, or provision; or
                            ``(iii) providing ships or shipping 
                        services to deliver refined petroleum products 
                        to Iran.''.
    (b) Description of Sanctions.--Section 6 of such Act is amended--
            (1) by striking ``The sanctions to be imposed on a 
        sanctioned person under section 5 are as follows:'' and 
        inserting the following:
    ``(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) Foreign exchange.--The President shall, pursuant to 
        such regulations as the President may prescribe, prohibit any 
        transactions in foreign exchange by the sanctioned person.
            ``(2) Banking transactions.--The President shall, pursuant 
        to such regulations as the President may prescribe, prohibit 
        any transfers of credit or payments between, by, through, or to 
        any financial institution, to the extent that such transfers or 
        payments involve any interest of the sanctioned person.
            ``(3) Property transactions.--The President shall, pursuant 
        to such regulations as the President may prescribe and subject 
        to the jurisdiction of the United States, prohibit any person 
        from--
                    ``(A) acquiring, holding, withholding, using, 
                transferring, withdrawing, transporting, importing, or 
                exporting any property with respect to which the 
                sanctioned person has any interest;
                    ``(B) dealing in or exercising any right, power, or 
                privilege with respect to such property; or
                    ``(C) conducting any transactions involving such 
                property.''.
    (c) Report Relating to Presidential Waiver.--Section 9(c)(2) of 
such Act is amended by striking subparagraph (C) and inserting the 
following:
                    ``(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--
                            ``(i) develop petroleum resources, produce 
                        refined petroleum products, or import refined 
                        petroleum products; or
                            ``(ii) acquire or develop--
                                    ``(I) chemical, biological, or 
                                nuclear weapons or related 
                                technologies; or
                                    ``(II) destabilizing numbers and 
                                types of advanced conventional weapons; 
                                and''.
    (d) Clarification and Expansion of Definitions.--Section 14 of such 
Act is amended--
            (1) in paragraph (13)(B)--
                    (A) by inserting ``financial institution, insurer, 
                underwriter, guarantor, and any other business 
                organization, including any foreign subsidiary, parent, 
                or affiliate thereof,'' after ``trust,''; and
                    (B) by inserting ``, such as an export credit 
                agency'' before the semicolon at the end;
            (2) in paragraph (14), 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) Refined petroleum products.--The term `refined 
        petroleum products' means diesel, gasoline, jet fuel (including 
        naphtha-type and kerosene-type jet fuel), and aviation 
        gasoline.''.
    (e) Conforming Amendment.--Section 4 of such Act is amended--
            (1) in subsection (b)(2), by striking ``(in addition to 
        that provided in subsection (d))'';
            (2) by striking subsection (d); and
            (3) by redesignating subsections (e) and (f) as subsections 
        (d) and (e), respectively.

SEC. 103. ECONOMIC SANCTIONS RELATING TO IRAN.

    (a) In General.--Notwithstanding any other provision of law, and in 
addition to any other sanction in effect, beginning on the date that is 
15 days after the effective date of this Act, the economic sanctions 
described in subsection (b) shall apply with respect to Iran.
    (b) Sanctions.--The sanctions described in this subsection are the 
following:
            (1) Prohibition on imports.--
                    (A) In general.--Except as provided in subparagraph 
                (B), no article of Iranian origin may be imported 
                directly or indirectly into the United States.
                    (B) Exception.--The prohibition in subparagraph (A) 
                does not apply to imports from Iran of information and 
                informational materials.
            (2) Prohibition on exports.--
                    (A) In general.--Except as provided in subparagraph 
                (B), no article of United States origin may be exported 
                directly or indirectly to Iran.
                    (B) Exceptions.--The prohibition in subparagraph 
                (A) does not apply to exports to Iran of--
                            (i) agricultural commodities, food, 
                        medicine, or medical devices;
                            (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) goods, services, or technologies 
                        necessary to ensure the safe operation of 
                        commercial passenger aircraft produced in the 
                        United States 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 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 Atomic Energy Agency and 
                                are necessary to support activities of 
                                that Agency in Iran;
                                    (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 the national interest 
                                of the United States.
                    (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) Freezing assets.--
                    (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 and military or quasi-governmental 
                institutions of Iran (including Iran's Revolutionary 
                Guard Corps and its affiliates), that satisfy 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 
                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 includes requiring 
                any United States financial institution that holds 
                funds and assets of a person so named to report 
                promptly to the Office of Foreign Assets Control 
                information regarding such funds and assets.
                    (B) Asset reporting requirement.--Not later than 14 
                days after a decision is made to freeze the property or 
                assets of any person under this paragraph, the 
                President shall report the name of such person to the 
                appropriate congressional committees. Such a report may 
                contain a classified annex.
            (4) 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 5 of the Iran Sanctions Act of 1996 (Public Law 104-
        172; 50 U.S.C. 1701 note).
    (c) Waiver.--The President may waive the application of the 
sanctions described in subsection (b) if the President--
            (1) determines that such a waiver is in the national 
        interest of the United States; and
            (2) submits to the appropriate congressional committees a 
        report describing the reasons for the determination.

SEC. 104. LIABILITY OF PARENT COMPANIES FOR VIOLATIONS OF SANCTIONS BY 
              FOREIGN SUBSIDIARIES.

    (a) Definitions.--In this section:
            (1) Entity.--The term ``entity'' means a partnership, 
        association, trust, joint venture, corporation, or other 
        organization.
            (2) Own or control.--The term ``own or control'' means, 
        with respect to an entity--
                    (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 entity.
    (b) In General.--A United States person shall be subject to a 
penalty for a violation of the provisions of Executive Order 12959 (50 
U.S.C. 1701 note) or Executive Order 13059 (50 U.S.C. 1701 note), or 
any other prohibition on transactions with respect to Iran imposed 
under the authority of the International Emergency Economic Powers Act 
(50 U.S.C. 1701 et seq.), 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 waive the application of subsection 
(b) if the President--
            (1) determines that such a waiver is in the national 
        interest of the United States; and
            (2) submits to the appropriate congressional committees a 
        report describing the reasons for the determination.
    (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 enactment.
            (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 than 90 days after the date of the enactment of this 
        Act.

SEC. 105. PROHIBITION ON PROCUREMENT CONTRACTS WITH PERSONS THAT EXPORT 
              SENSITIVE TECHNOLOGY TO IRAN.

    (a) In General.--Notwithstanding any other provision of law, and 
pursuant to such regulations as the President may prescribe, the head 
of an executive agency may not enter into or renew a contract for the 
procurement of goods or services with a person that exports sensitive 
technology to Iran.
    (b) Waiver.--The President may waive the application of 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 determination.
    (c) Sensitive Technology Defined.--The term ``sensitive 
technology'' means hardware, software, telecommunications equipment, or 
any other technology that the President determines is to be used 
specifically--
            (1) to restrict the free flow of unbiased information in 
        Iran; or
            (2) to disrupt, monitor, or otherwise restrict speech of 
        the people of Iran.

SEC. 106. INCREASED CAPACITY FOR EFFORTS TO COMBAT UNLAWFUL OR 
              TERRORIST FINANCING.

    (a) Finding.--Congress finds that 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.
    (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--
            (1) $64,611,000 for fiscal year 2010; and
            (2) such sums as may be necessary for each of the fiscal 
        years 2011 and 2012.
    (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 ``$104,260,000 for 
fiscal year 2010 and such sums as may be necessary for each of the 
fiscal years 2011 and 2012''.

SEC. 107. REPORTING REQUIREMENTS.

    (a) Report on Investment and Activities That May Be Sanctionable 
Under Iran Sanctions Act of 1996.--
            (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 resources 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 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).
            (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).
    (b) Subsequent Reports.--Not later than 1 year after the date of 
the enactment of this Act, 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 for the 180-day period 
preceding the submission of the updated report.
    (c) Form of Reports; Publication.--A report submitted under 
subsection (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 Register.

SEC. 108. 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.

    It is the sense of Congress that the United States should--
            (1) continue to target Iran's Revolutionary Guard Corps 
        persistently with economic sanctions for its support for 
        terrorism, its role in proliferation, and its oppressive 
        activities against the people of Iran; 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--
                    (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;
                    (B) any individual or entity who--
                            (i) has provided material support to Iran's 
                        Revolutionary Guard Corps or any of its 
                        affiliates designated for the imposition of 
                        sanctions by the President; or
                            (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 conducted 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 TO IRAN AND 
              HEZBOLLAH.

    It is the sense of Congress that the United States should--
            (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;
            (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, and persons providing Hezbollah with 
        commercial, financial, or other services;
            (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; and
            (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).

SEC. 111. SENSE OF CONGRESS REGARDING THE IMPOSITION OF MULTILATERAL 
              SANCTIONS WITH RESPECT TO IRAN.

    It is the sense of Congress that--
            (1) in general, multilateral sanctions are more effective 
        than unilateral sanctions at achieving desired results from 
        countries such as Iran;
            (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.

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

SEC. 201. DEFINITIONS.

    In this title:
            (1) Energy sector.--The term ``energy sector'' refers to 
        activities to develop petroleum or natural gas resources or 
        nuclear power.
            (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).
            (3) Iran.--The term ``Iran'' includes any agency or 
        instrumentality of Iran.
            (4) Person.--The term ``person'' means--
                    (A) a natural person, corporation, company, 
                business association, partnership, society, trust, or 
                any other nongovernmental entity, organization, or 
                group;
                    (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))); and
                    (C) any successor, subunit, parent company, or 
                subsidiary of any entity described in subparagraph (A) 
                or (B).
            (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.
            (6) State or local government.--The term ``State or local 
        government'' includes--
                    (A) any State and any agency or instrumentality 
                thereof;
                    (B) any local government within a State, and any 
                agency or instrumentality thereof;
                    (C) any other governmental instrumentality; and
                    (D) any public institution of higher education 
                within the meaning of the Higher Education Act of 1965 
                (20 U.S.C. 1001 et seq.).

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

    (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 economic 
sanctions imposed by the United States.
    (b) Authority To 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).
    (c) Investment Activities Described.--A person engages in 
investment activities in Iran described in this subsection if the 
person--
            (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 in Iran; or
            (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 invest in the energy sector in 
        Iran.
    (d) Requirements.--Any measure taken by a State or local government 
under subsection (b) shall meet the following requirements:
            (1) Notice.--The State or local government shall provide 
        written notice to each person to which a measure is to be 
        applied.
            (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).
            (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.
            (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).
    (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.
    (f) Nonpreemption.--A measure of a State or local government 
authorized under subsection (b) is not preempted by any Federal law or 
regulation.
    (g) Definitions.--In this section:
            (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.--
                    (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.
                    (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.).
    (h) Effective Date.--
            (1) In general.--Except as provided in paragraph (2), this 
        section applies to measures adopted by a State or local 
        government before, on, or after the date of the enactment of 
        this Act.
            (2) Notice requirements.--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.

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

    (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:
            ``(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--
                    ``(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); or
                    ``(B) engage in investment activities in Iran 
                described in section 202(c) of the Comprehensive Iran 
                Sanctions, Accountability, and Divestment Act of 
                2009.''.
    (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).

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

    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 404 of the Employee 
Retirement Income Security Act of 1974 (29 U.S.C. 1104), if--
            (1) the fiduciary makes such determination using credible 
        information that is available to the public; and
            (2) 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 Act).

TITLE III--PREVENTION OF TRANSSHIPMENT, REEXPORTATION, OR DIVERSION OF 
                        SENSITIVE ITEMS TO IRAN

SEC. 301. DEFINITIONS.

    In this title:
            (1) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means--
                    (A) the Committee on Banking, Housing, and Urban 
                Affairs, the Committee on Foreign Relations, and the 
                Select Committee on Intelligence of the Senate; and
                    (B) the Committee on Financial Services, the 
                Committee on Foreign Affairs, and the Permanent Select 
                Committee on Intelligence of the House of 
                Representatives.
            (2) End-user.--The term ``end-user'' means an end-user as 
        that term is used in the Export Administration Regulations.
            (3) Export administration regulations.--The term ``Export 
        Administration Regulations'' means subchapter C of chapter VII 
        of title 15, Code of Federal Regulations.
            (4) Government.--The term ``government'' includes any 
        agency or instrumentality of a government.
            (5) Iran.--The term ``Iran'' includes any agency or 
        instrumentality of Iran.
            (6) 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--
                    (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);
                    (B) section 40(d) of the Arms Export Control Act 
                (22 U.S.C. 2780(d)); or
                    (C) section 620A(a) of the Foreign Assistance Act 
                of 1961 (22 U.S.C. 2371(a)).
            (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 items.

SEC. 302. IDENTIFICATION OF LOCATIONS OF CONCERN WITH RESPECT TO 
              TRANSSHIPMENT, REEXPORTATION, OR DIVERSION OF CERTAIN 
              ITEMS TO IRAN.

    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 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 Iran.

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

    (a) Destinations of Possible Diversion Concern.--
            (1) Designation.--The Secretary of Commerce 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 country based on criteria that 
        include--
                    (A) the volume of items that originated in the 
                United States that are transported through the country 
                to end-users whose identities cannot be verified;
                    (B) the inadequacy of the export and reexport 
                controls of the country;
                    (C) the unwillingness or demonstrated inability of 
                the government of the country to control diversion 
                activities; and
                    (D) the unwillingness or inability of the 
                government of the country to cooperate with the United 
                States in interdiction efforts.
            (2) 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 under paragraph (1), the United States shall initiate 
        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 
        include--
                    (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) develop or strengthen export control 
                        systems in the country;
                            (ii) strengthen cooperation and facilitate 
                        enforcement of export control systems in the 
                        country; and
                            (iii) promote information and data 
                        exchanges among agencies of the country and 
                        with the United States; and
                    (B) efforts by the Office of International Programs 
                of the Department of Commerce to strengthen the export 
                control systems of the country to--
                            (i) facilitate legitimate trade in high-
                        technology goods; and
                            (ii) 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.
    (c) Termination of Designation.--The designation of a country as a 
Destination of Possible Diversion Concern or a Destination of Diversion 
Concern 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 
President 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.

SEC. 304. REPORT ON EXPANDING DIVERSION CONCERN SYSTEM TO COUNTRIES 
              OTHER THAN IRAN.

    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) identifies any country that the Director determines may 
        be transshipping, reexporting, or diverting items subject to 
        the provisions of the Export Administration Regulations to 
        another country if such other country--
                    (A) is seeking to obtain nuclear, biological, or 
                chemical weapons, defense technologies, components for 
                improvised explosive devices, or other defense items; 
                or
                    (B) provides support for acts of international 
                terrorism; and
            (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 Diversion Concern to include countries 
        identified under paragraph (1).

                    TITLE IV--EFFECTIVE DATE; SUNSET

SEC. 401. EFFECTIVE DATE; SUNSET.

    (a) Effective Date.--Except as provided in sections 104, 202, and 
303(b)(2), the provisions of, and 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 on the date 
that is 30 days after the date on which the President certifies to 
Congress that--
            (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 
        under--
                    (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);
                    (B) section 40(d) of the Arms Export Control Act 
                (22 U.S.C. 2780(d)); or
                    (C) section 620A(a) of the Foreign Assistance Act 
                of 1961 (22 U.S.C. 2371(a)); and
            (2) Iran has ceased the pursuit, acquisition, and 
        development of nuclear, biological, and chemical weapons and 
        ballistic missiles and ballistic missile launch technology.
                                                       Calendar No. 215

111th CONGRESS

  1st Session

                                S. 2799

                          [Report No. 111-99]

_______________________________________________________________________

                                 A BILL

To expand the Iran Sanctions Act of 1996, 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.

_______________________________________________________________________

                           November 19, 2009

                 Read twice and placed on the calendar
```