I 
114TH CONGRESS 
2D SESSION 
H. R. 4448 
To amend the Comprehensive Iran Sanctions, Accountability, and Divestment 
Act of 2010 to secure the authority of State and local governments 
to adopt and enforce measures restricting investment in business enter-
prises in Iran, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 3, 2016 
Mr. DESANTIS (for himself, Mr. LAMBORN, Mr. CRENSHAW, Mr. ROKITA, Mr. 
SMITH of Texas, Mr. ROHRABACHER, Mr. HARPER, Mr. BISHOP of 
Michigan, Mr. ROSS, Mr. COLLINS of New York, Mr. DESJARLAIS, Mr. 
YOHO, Mr. SALMON, Mr. CLAWSON of Florida, Mr. WEBER of Texas, Mr. 
PERRY, Mr. MEADOWS, Mr. JORDAN, Mr. ZELDIN, Mr. WALKER, and 
Ms. MCSALLY) introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To amend the Comprehensive Iran Sanctions, Accountability, 
and Divestment Act of 2010 to secure the authority 
of State and local governments to adopt and enforce 
measures restricting investment in business enterprises 
in Iran, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘State Sanctions 
Against Iranian Terrorism Act’’. 
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SEC. 2. AUTHORITY OF STATE AND LOCAL GOVERNMENTS 
TO RESTRICT INVESTMENT ACTIVITIES IN 
IRAN. 
(a) ADDITIONAL AUTHORITY.—Section 202 of the 
Comprehensive Iran Sanctions, Accountability, and Di-
vestment Act of 2010 (22 U.S.C. 8532) is amended as 
follows: 
(1) Subsection (a) is amended— 
(A) by striking ‘‘should support’’ and in-
serting ‘‘should not interfere with’’; and 
(B) by striking ‘‘in the energy sector of 
Iran’’ and all that follows through ‘‘United 
States’’ and inserting ‘‘in the business sector in 
Iran, or prohibits or limits any person from en-
gaging in investment activities in the business 
sector of Iran, until such time as all Federal 
laws that either expressly authorize or require 
the imposition of sanctions by the Federal Gov-
ernment on Iran are rescinded by an Act or 
Acts of Congress’’. 
(2) Subsection (b) is amended— 
(A) by amending the subsection heading to 
read as follows: 
‘‘(b) AUTHORITY TO RESTRICT INVESTMENT
IN 
IRAN.—’’; 
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(B) by striking ‘‘may adopt and enforce 
measures that meet’’ and inserting ‘‘may— 
‘‘(1) adopt and enforce measures— 
‘‘(A) that meet’’; 
(C) by moving the remaining text of sub-
section (b) 4 ems to the right; 
(D) by striking ‘‘subsection (c).’’ and in-
serting ‘‘subsection (c); or’’; and 
(E) by adding at the end the following: 
‘‘(B) to prohibit or limit any person from 
engaging in investment activities in Iran de-
scribed in subsection (c); and 
‘‘(2) enter into interstate compacts regarding 
measures described in paragraph (1). 
Enforcement of measures under this subsection may in-
clude the imposition of disclosure and other transparency 
requirements to carry out paragraph (1).’’. 
(3) Subsection (c) is amended— 
(A) in paragraph (1)— 
(i) by striking ‘‘$20,000,000 or more 
in the energy sector’’ and inserting 
‘‘$10,000,000 or more— 
‘‘(A) in the energy sector’’; 
(ii) by moving the remaining text of 
paragraph (1) 2 ems to the right; and 
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(iii) by adding at the end the fol-
lowing: 
‘‘(B) in any other business enterprise in 
Iran, including an entity that is owned or con-
trolled by the Government of Iran; or’’; and 
(B) in paragraph (2)— 
(i) by striking ‘‘$20,000,000’’ and in-
serting ‘‘$10,000,000’’; and 
(ii) by adding after ‘‘energy sector of 
Iran’’ the following: ‘‘or otherwise in a 
business enterprise in Iran, including an 
entity that is owned or controlled by the 
Government of Iran’’. 
(4) Subsection (f) is amended to read as fol-
lows: 
‘‘(f) NONPREEMPTION; NO CONFLICT WITH U.S. 
FOREIGN AND INTERNATIONAL COMMERCE POLICY.—A 
measure of a State or local government authorized under 
subsection (b), (i), or (j)— 
‘‘(1) is authorized and not preempted by any 
Federal law or regulation, or any policy, agreement, 
or exercise of waiver authority of the executive 
branch; and 
‘‘(2) is consistent with United States Federal 
policy, including United States foreign policy.’’. 
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(5) Subsection (g) is amended by adding at the 
end the following: 
‘‘(3) OWN
OR
CONTROL.—The term ‘own or 
control’ means, with respect to an entity— 
‘‘(A) to hold more than 20 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.’’. 
(6) Subsection (h) is amended— 
(A) in paragraph (1), by striking ‘‘or sub-
section (i)’’ and inserting ‘‘and subsections (i) 
and (j)’’; and 
(B) in paragraph (2), by striking ‘‘sub-
section (i)’’ and inserting ‘‘subsections (i) and 
(j)’’. 
(7) Subsection (i) is amended by adding at the 
end the following: 
‘‘(3) APPLICABILITY OF PRIOR PROVISIONS.— 
Paragraphs (1) and (2) apply with respect to this 
section as in effect on the day before the effective 
date of the State Sanctions Against Iranian Ter-
rorism Act.’’. 
(8) Section 202 is further amended— 
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(A) by redesignating subsection (j) as sub-
section (k); and 
(B) by inserting after subsection (i) the 
following: 
‘‘(j) APPLICABILITY OF AMENDMENTS.— 
‘‘(1) IN GENERAL.—Notwithstanding any other 
provision of this section or any other provision of 
law, a State or local government may enforce a 
measure (without regard to the requirements of sub-
section (d), except as provided in paragraph (2)) 
adopted by the State or local government before the 
date of the enactment of the State Sanctions 
Against Iranian Terrorism Act (other than a meas-
ure covered by subsection (i)) that— 
‘‘(A) provides for the divestment of assets 
of the State or local government from, or pro-
hibits the 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, en-
gages in investment activities in Iran (deter-
mined without regard to subsection (c)) or 
other business activities in Iran that are identi-
fied in the measure; or 
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‘‘(B) prohibits or limits any person from 
engaging in investment activities in Iran de-
scribed in subsection (c). 
‘‘(2) 
APPLICATION
OF
NOTICE
REQUIRE-
MENTS.—A measure described in paragraph (1) 
shall be subject to the requirements of paragraphs 
(1) and (2) and the first sentence of paragraph (3) 
of subsection (d) on and after the date that is 2 
years after the date of the enactment of the State 
Sanctions Against Iranian Terrorism Act.’’. 
(b) EXEMPTION FROM SUNSET.—Section 401(a) of 
the Comprehensive Iran Sanctions, Accountability, and 
Divestment Act of 2010 (22 U.S.C. 855(a)) is amended, 
in the matter preceding paragraph (1), by striking ‘‘sec-
tions 105 and 305’’ and inserting ‘‘sections 105, 202, and 
305’’. 
(c) CONFORMING AMENDMENTS.— 
(1) The heading for title II of the Comprehen-
sive Iran Sanctions, Accountability, and Divestment 
Act of 2010 (22 U.S.C. 8531 et seq.) is amended to 
read as follows: 
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‘‘TITLE 
II—RESTRICTIONS 
BY 
STATE AND LOCAL GOVERN-
MENTS ON INVESTMENT AC-
TIVITIES IN IRAN’’. 
(2) The heading for section 202 of the Com-
prehensive Iran Sanctions, Accountability, and Di-
vestment Act of 2010 (22 U.S.C. 8532) is amended 
to read as follows: 
‘‘SEC. 202. AUTHORITY OF STATE AND LOCAL GOVERN-
MENTS TO RESTRICT INVESTMENT ACTIVI-
TIES IN IRAN.’’. 
(3) The table of contents of the Comprehensive 
Iran Sanctions, Accountability, and Divestment Act 
of 2010 (22 U.S.C. 8501 et seq.) is amended— 
(A) by amending the item relating to title 
II to read as follows: 
‘‘TITLE II—RESTRICTIONS BY STATE AND LOCAL GOVERNMENTS 
ON INVESTMENT IN IRAN’’; 
and 
(B) by amending the item relating to sec-
tion 202 to read as follows: 
‘‘Sec. 202. Authority of State and local governments to restrict investment ac-
tivities in Iran.’’. 
SEC. 3. EFFECTIVE DATE. 
The amendments made by this Act shall apply to 
measures adopted by a State or local government on or 
after the date of the enactment of this Act, except as pro-
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vided in section 202(j) of the Comprehensive Iran Sanc-
tions, Accountability, and Divestment Act of 2010, as 
amended by this Act. 
Æ 
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