In the Senate of the United States, 
March 11, 2010. 
Resolved, That the bill from the House of Representa-
tives (H.R. 2194) entitled ‘‘An Act to amend the Iran Sanc-
tions Act of 1996 to enhance United States diplomatic efforts 
with respect to Iran by expanding economic sanctions against 
Iran.’’, do pass with the following 
AMENDMENT: 
Strike all after the enacting clause and insert the 
following: 
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Comprehensive Iran Sanctions, Accountability, and Di-
vestment 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.
† HR 2194 EAS 
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 sen-
sitive technology to Iran. 
Sec. 106. Increased capacity for efforts to combat unlawful or terrorist financ-
ing. 
Sec. 107. Reporting requirements. 
Sec. 108. Sense of Congress regarding the imposition of sanctions on the Cen-
tral 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 com-
panies 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 Di-
version 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 Govern-
ment of Iran and its support for international ter-
rorism represent threats to the security of the 
United States, its strong ally Israel, and other allies 
of the United States around the world.
† HR 2194 EAS 
(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 nu-
clear 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 to-
gether 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 strength-
ened should international diplomatic efforts fail to 
achieve verifiable suspension of Iran’s uranium en-
† HR 2194 EAS 
richment program and an end to its illicit nuclear 
activities. 
(6) There is an increasing interest by States, 
local governments, educational institutions, and pri-
vate institutions to seek to disassociate themselves 
from companies that conduct business activities in 
the energy sector of Iran, since such business activi-
ties may directly or indirectly support the efforts of 
the Government of Iran to achieve a nuclear weap-
ons capability. 
(7) Black market proliferation networks con-
tinue to flourish in the Middle East, allowing coun-
tries like Iran to gain access to sensitive dual-use 
technologies. 
(8) The Government of Iran continues to en-
gage in serious, systematic, and ongoing violations of 
human rights and religious freedom, including ille-
gitimate prolonged detention, torture, and execu-
tions. Such violations have increased in the after-
math of the presidential election in Iran on June 12, 
2009. 
SEC. 3. SENSE OF CONGRESS REGARDING ILLICIT NU-
CLEAR 
ACTIVITIES 
AND 
VIOLATIONS 
OF 
HUMAN RIGHTS IN IRAN. 
It is the sense of Congress that—
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(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
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ 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 mem-
ber’’ means, with respect to an individual, the 
spouse, children, grandchildren, or parents of the in-
dividual. 
(5) INFORMATION AND INFORMATIONAL MATE-
RIALS.—The term ‘‘information and informational 
materials’’ includes publications, films, posters, pho-
nograph records, photographs, microfilms, micro-
fiche, 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
† HR 2194 EAS 
Iran Sanctions Act of 1996 (Public Law 104–172; 
50 U.S.C. 1701 note). 
(7) IRANIAN
DIPLOMATS
AND
REPRESENTA-
TIVES OF OTHER GOVERNMENT AND MILITARY OR 
QUASI-GOVERNMENTAL
INSTITUTIONS
OF
IRAN.— 
The term ‘‘Iranian diplomats and representatives of 
other government and military or quasi-govern-
mental 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 de-
vice’’ has the meaning given the term ‘‘device’’ in 
section 201 of the Federal Food, Drug, and Cos-
metic 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:
† HR 2194 EAS 
‘‘(a) SANCTIONS WITH RESPECT TO THE DEVELOP-
MENT OF PETROLEUM RESOURCES OF IRAN, PRODUC-
TION OF REFINED PETROLEUM PRODUCTS IN IRAN, AND 
EXPORTATION OF REFINED PETROLEUM PRODUCTS TO 
IRAN.— 
‘‘(1) 
DEVELOPMENT
OF
PETROLEUM
RE-
SOURCES 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 Sanc-
tions, 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 invest-
ments 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 aggre-
gate.
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‘‘(B) INVESTMENT
DESCRIBED.—An in-
vestment described in this subparagraph is an 
investment that directly and significantly con-
tributes 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 sub-
section) with respect to a person if the Presi-
dent 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 subpara-
graph (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.
† HR 2194 EAS 
‘‘(B) GOODS, SERVICES, TECHNOLOGY, IN-
FORMATION, OR SUPPORT DESCRIBED.—Goods, 
services, technology, information, or support de-
scribed in this subparagraph are goods, serv-
ices, technology, information, or support that 
could directly and significantly facilitate the 
maintenance or expansion of Iran’s domestic 
production of refined petroleum products, in-
cluding any assistance with respect to construc-
tion, modernization, or repair of petroleum re-
fineries. 
‘‘(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 sub-
section) with respect to a person if the Presi-
dent 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 petro-
leum products—
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‘‘(I) that have a fair market 
value of $200,000 or more; or 
‘‘(II) that, during a 12-month pe-
riod, have an aggregate fair market 
value of $1,000,000 or more; or 
‘‘(ii) sells, leases, or provides to Iran 
any goods, services, technology, informa-
tion, or support described in subparagraph 
(B)— 
‘‘(I) any of which has a fair mar-
ket value of $200,000 or more; or 
‘‘(II) that, during a 12-month pe-
riod, have an aggregate fair market 
value of $1,000,000 or more. 
‘‘(B) GOODS, SERVICES, TECHNOLOGY, IN-
FORMATION, OR SUPPORT DESCRIBED.—Goods, 
services, technology, information, or support de-
scribed in this subparagraph are goods, serv-
ices, 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 pro-
viding insurance or reinsurance for the 
sale, lease, or provision of such goods,
† HR 2194 EAS 
services, technology, information, or sup-
port; 
‘‘(ii) financing or brokering such sale, 
lease, or provision; or 
‘‘(iii) providing ships or shipping serv-
ices 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
† HR 2194 EAS 
may prescribe, prohibit any transfers of credit or 
payments between, by, through, or to any financial 
institution, to the extent that such transfers or pay-
ments involve any interest of the sanctioned person. 
‘‘(3) PROPERTY
TRANSACTIONS.—The Presi-
dent shall, pursuant to such regulations as the 
President may prescribe and subject to the jurisdic-
tion of the United States, prohibit any person 
from— 
‘‘(A) 
acquiring, 
holding, 
withholding, 
using, transferring, withdrawing, transporting, 
importing, or exporting any property with re-
spect to which the sanctioned person has any 
interest; 
‘‘(B) dealing in or exercising any right, 
power, or privilege with respect to such prop-
erty; or 
‘‘(C) conducting any transactions involving 
such property.’’. 
(c) REPORT RELATING
TO PRESIDENTIAL WAIV-
ER.—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—
† HR 2194 EAS 
‘‘(i) 
develop 
petroleum 
resources, 
produce refined petroleum products, or im-
port refined petroleum products; or 
‘‘(ii) acquire or develop— 
‘‘(I) chemical, biological, or nu-
clear weapons or related technologies; 
or 
‘‘(II) destabilizing numbers and 
types of advanced conventional weap-
ons; and’’. 
(d) CLARIFICATION
AND EXPANSION
OF DEFINI-
TIONS.—Section 14 of such Act is amended— 
(1) in paragraph (13)(B)— 
(A) by inserting ‘‘financial institution, in-
surer, 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 cred-
it agency’’ before the semicolon at the end; 
(2) in paragraph (14), by striking ‘‘petroleum 
and natural gas resources’’ and inserting ‘‘petro-
leum, refined petroleum products, oil or liquefied 
natural gas, natural gas resources, oil or liquefied 
natural gas tankers, and products used to construct
† HR 2194 EAS 
or maintain pipelines used to transport oil or lique-
fied natural gas’’; 
(3) by redesignating paragraphs (15) and (16) 
as paragraphs (16) and (17), respectively; and 
(4) by inserting after paragraph (14) the fol-
lowing: 
‘‘(15) REFINED PETROLEUM PRODUCTS.—The 
term ‘refined petroleum products’ means diesel, gas-
oline, 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 addi-
tion 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 provi-
sion 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 sub-
section (b) shall apply with respect to Iran. 
(b) SANCTIONS.—The sanctions described in this 
subsection are the following:
† HR 2194 EAS 
(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 sub-
paragraph (A) does not apply to imports from 
Iran of information and informational mate-
rials. 
(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 sub-
paragraph (A) does not apply to exports to Iran 
of— 
(i) agricultural commodities, food, 
medicine, or medical devices; 
(ii) articles exported to Iran to pro-
vide humanitarian assistance to the people 
of Iran; 
(iii) except as provided in subpara-
graph (C), information or informational 
materials;
† HR 2194 EAS 
(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 ap-
proved by the Secretary of the Treasury, in 
consultation with the Secretary of Com-
merce, pursuant to regulations promul-
gated by the Secretary of the Treasury re-
garding the exportation of such goods, 
services, or technologies, if appropriate; or 
(v) goods, services, or technologies 
that— 
(I) are provided to the Inter-
national Atomic Energy Agency and 
are necessary to support activities of 
that Agency in Iran; 
(II) are necessary to support ac-
tivities, including the activities of non-
governmental organizations, relating 
to promoting democracy in Iran; or 
(III) the President determines to 
be necessary to the national interest 
of the United States.
† HR 2194 EAS 
(C) SPECIAL RULE WITH RESPECT TO IN-
FORMATION
AND
INFORMATIONAL
MATE-
RIALS.—Notwithstanding subparagraph (B)(iii), 
information and informational materials of 
United States origin may not be exported di-
rectly or indirectly to Iran— 
(i) if the exportation of such informa-
tion 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 pur-
suant 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 non-
proliferation or antiterrorism policies 
of the United States; or 
(ii) if such information or informa-
tional materials are information or infor-
mational materials with respect to which 
acts are prohibited by chapter 37 of title 
18, United States Code.
† HR 2194 EAS 
(3) FREEZING ASSETS.— 
(A) IN GENERAL.—At such time as the 
United States has access to the names of per-
sons in Iran, including Iranian diplomats and 
representatives of other government and mili-
tary 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 Inter-
national 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 nec-
essary 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.
† HR 2194 EAS 
(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 con-
gressional committees. Such a report may con-
tain a classified annex. 
(4) 
UNITED
STATES
GOVERNMENT
CON-
TRACTS.—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 applica-
tion of the sanctions described in subsection (b) if the 
President— 
(1) determines that such a waiver is in the na-
tional interest of the United States; and 
(2) submits to the appropriate congressional 
committees a report describing the reasons for the 
determination.
† HR 2194 EAS 
SEC. 104. LIABILITY OF PARENT COMPANIES FOR VIOLA-
TIONS OF SANCTIONS BY FOREIGN SUBSIDI-
ARIES. 
(a) DEFINITIONS.—In this section: 
(1) ENTITY.—The term ‘‘entity’’ means a part-
nership, association, trust, joint venture, corpora-
tion, or other organization. 
(2) OWN OR CONTROL.—The term ‘‘own or con-
trol’’ 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, poli-
cies, 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, resi-
dent, or national of the United States; and 
(B) an entity that is organized under the 
laws of the United States, any State or terri-
tory thereof, or the District of Columbia, if nat-
† HR 2194 EAS 
ural 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 Execu-
tive Order 13059 (50 U.S.C. 1701 note), or any other pro-
hibition on transactions with respect to Iran imposed 
under the authority of the International Emergency Eco-
nomic 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 sub-
sidiary 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 applica-
tion of subsection (b) if the President— 
(1) determines that such a waiver is in the na-
tional interest of the United States; and 
(2) submits to the appropriate congressional 
committees a report describing the reasons for the 
determination. 
(d) EFFECTIVE DATE.—
† HR 2194 EAS 
(1) IN GENERAL.—Subsection (b) shall take ef-
fect 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 en-
actment. 
(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 di-
vests or terminates its business with the subsidiary 
not later than 90 days after the date of the enact-
ment of this Act. 
SEC. 105. PROHIBITION ON PROCUREMENT CONTRACTS 
WITH PERSONS THAT EXPORT SENSITIVE 
TECHNOLOGY TO IRAN. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law, and pursuant to such regulations as the Presi-
dent may prescribe, the head of an executive agency may 
not enter into or renew a contract for the procurement
† HR 2194 EAS 
of goods or services with a person that exports sensitive 
technology to Iran. 
(b) WAIVER.—The President may waive the applica-
tion of the prohibition under subsection (a) if the Presi-
dent— 
(1) determines that such a waiver is in the na-
tional 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, tele-
communications equipment, or any other technology that 
the President determines is to be used specifically— 
(1) to restrict the free flow of unbiased infor-
mation 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 De-
partment of the Treasury, which includes the Office of 
Foreign Assets Control and the Financial Crimes Enforce-
ment Network, is critical to ensuring that the inter-
national financial system is not used for purposes of sup-
† HR 2194 EAS 
porting terrorism and developing weapons of mass de-
struction. 
(b) AUTHORIZATION OF APPROPRIATIONS FOR OF-
FICE 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 congres-
sional committees a report containing—
† HR 2194 EAS 
(A) a description of— 
(i) 
any 
foreign 
investments 
of 
$20,000,000 or more that contribute di-
rectly and significantly to the enhancement 
of Iran’s ability to develop petroleum re-
sources made during the period described 
in paragraph (2); 
(ii) any sale, lease, or provision to 
Iran during the period described in para-
graph (2) of any goods, services, tech-
nology, information, or support that would 
facilitate the maintenance or expansion of 
Iran’s domestic production of refined pe-
troleum products; and 
(iii) any refined petroleum products 
provided to Iran during the period de-
scribed in paragraph (2) and any other ac-
tivity that could contribute directly and 
significantly to the enhancement of Iran’s 
ability to import refined petroleum prod-
ucts during that period; 
(B) with respect to each investment or 
other activity described in subparagraph (A), an 
identification of—
† HR 2194 EAS 
(i) the date or dates of the investment 
or activity; 
(ii) the steps taken by the United 
States to respond to the investment or ac-
tivity; 
(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 con-
tracts 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 Janu-
ary 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 appro-
† HR 2194 EAS 
priate congressional committees an updated version of the 
report required under subsection (a) that contains the in-
formation 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 IMPOSI-
TION OF SANCTIONS ON THE CENTRAL BANK 
OF IRAN. 
Congress urges the President, in the strongest terms, 
to consider immediately using the authority of the Presi-
dent 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,
† HR 2194 EAS 
and its oppressive activities against the people of 
Iran; and 
(2) impose sanctions, including travel restric-
tions, sanctions authorized pursuant to this Act, and 
the full range of sanctions available to the President 
under the International Emergency Economic Pow-
ers 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 sanc-
tions 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 imposi-
tion of sanctions by the President; or 
(ii) has conducted any financial or 
commercial transaction with Iran’s Revolu-
tionary 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
† HR 2194 EAS 
of its affiliates designated for the imposi-
tion 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 ter-
rorist 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 coun-
tries in Europe, and other countries to classify
† HR 2194 EAS 
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 Reso-
lutions 1559 (2004) and 1701 (2006). 
SEC. 111. SENSE OF CONGRESS REGARDING THE IMPOSI-
TION 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 de-
sired 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 con-
sult 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 re-
spect to Iran in the event that diplomatic efforts to
† HR 2194 EAS 
prevent Iran from acquiring a nuclear weapons capa-
bility fail. 
TITLE 
II—DIVESTMENT 
FROM 
CERTAIN COMPANIES THAT 
INVEST IN IRAN 
SEC. 201. DEFINITIONS. 
In this title: 
(1) ENERGY SECTOR.—The term ‘‘energy sec-
tor’’ refers to activities to develop petroleum or nat-
ural gas resources or nuclear power. 
(2) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial 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 agen-
cy or instrumentality of Iran. 
(4) PERSON.—The term ‘‘person’’ means— 
(A) a natural person, corporation, com-
pany, business association, partnership, society, 
trust, or any other nongovernmental entity, or-
ganization, or group; 
(B) any governmental entity or instrumen-
tality of a government, including a multilateral 
development institution (as defined in section
† HR 2194 EAS 
1701(c)(3) of the International Financial Insti-
tutions Act (22 U.S.C. 262r(c)(3))); and 
(C) any successor, subunit, parent com-
pany, 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 instru-
mentality thereof; 
(B) any local government within a State, 
and any agency or instrumentality thereof; 
(C) any other governmental instrumen-
tality; and 
(D) any public institution of higher edu-
cation within the meaning of the Higher Edu-
cation Act of 1965 (20 U.S.C. 1001 et seq.).
† HR 2194 EAS 
SEC. 202. AUTHORITY OF STATE AND LOCAL GOVERN-
MENTS TO DIVEST FROM CERTAIN COMPA-
NIES THAT INVEST IN IRAN. 
(a) SENSE OF CONGRESS.—It is the sense of Con-
gress 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 gov-
ernment 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 infor-
mation available to the public, engages in investment ac-
tivities 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
† HR 2194 EAS 
in subsection (c), the measure shall not apply to the 
person. 
(4) SENSE OF CONGRESS ON AVOIDING ERRO-
NEOUS
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 pre-
empted 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, in-
cludes— 
(A) a commitment or contribution of as-
sets;
† HR 2194 EAS 
(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, retire-
ment, 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 Se-
curity Act of 1974 (29 U.S.C. 1001 et seq.). 
(h) EFFECTIVE DATE.— 
(1) IN GENERAL.—Except as provided in para-
graph (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 enact-
ment of this Act.
† HR 2194 EAS 
SEC. 203. SAFE HARBOR FOR CHANGES OF INVESTMENT 
POLICIES BY ASSET MANAGERS. 
(a) IN GENERAL.—Section 13(c)(1) of the Invest-
ment 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 de-
termines, using credible information available to the 
public— 
‘‘(A) conduct or have direct investments in 
business operations in Sudan described in sec-
tion 3(d) of the Sudan Accountability and Di-
vestment Act of 2007 (50 U.S.C. 1701 note); or 
‘‘(B) engage in investment activities in 
Iran described in section 202(c) of the Com-
prehensive 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
† HR 2194 EAS 
Commission determines to be necessary to the regulations 
requiring disclosure by each registered investment com-
pany 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 para-
graph (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 em-
ployee benefit plan, as defined in section 3(3) of the Em-
ployee 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 deter-
mines engages in investment activities in Iran described 
in section 202(c) of this Act, without breaching the re-
sponsibilities, obligations, or duties imposed upon the fidu-
ciary 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
† HR 2194 EAS 
on the day before the date of the enactment of this 
Act). 
TITLE 
III—PREVENTION 
OF 
TRANSSHIPMENT, 
REEXPOR-
TATION, OR DIVERSION OF 
SENSITIVE ITEMS TO IRAN 
SEC. 301. DEFINITIONS. 
In this title: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Banking, Housing, 
and Urban Affairs, the Committee on Foreign 
Relations, and the Select Committee on Intel-
ligence of the Senate; and 
(B) the Committee on Financial Services, 
the Committee on Foreign Affairs, and the Per-
manent 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 Ad-
ministration Regulations. 
(3) EXPORT ADMINISTRATION REGULATIONS.— 
The term ‘‘Export Administration Regulations’’
† HR 2194 EAS 
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 govern-
ment. 
(5) IRAN.—The term ‘‘Iran’’ includes any agen-
cy 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 de-
termined has repeatedly provided support for acts of 
international terrorism pursuant to— 
(A) section 6(j)(1)(A) of the Export Ad-
ministration Act of 1979 (50 U.S.C. App. 
2405(j)(1)(A)) (or any successor thereto); 
(B) section 40(d) of the Arms Export Con-
trol Act (22 U.S.C. 2780(d)); or 
(C) section 620A(a) of the Foreign Assist-
ance Act of 1961 (22 U.S.C. 2371(a)). 
(7) TRANSSHIPMENT, REEXPORTATION, OR DI-
VERSION.—The term ‘‘transshipment, reexportation, 
or diversion’’ means the exportation, directly or indi-
rectly, 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 regu-