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SEC. 303. AUTHORITY TO IMPOSE SANCTIONS ON PRIN-
CIPAL EXECUTIVE OFFICERS. 
Section 5 of the Iran Sanctions Act of 1996 (50 
U.S.C. 1701 note) is amended by adding at the end the 
following: 
‘‘(g) AUTHORITY TO IMPOSE SANCTIONS ON PRIN-
CIPAL EXECUTIVE OFFICERS.— 
‘‘(1) SANCTIONS UNDER SECTION 6.—In addi-
tion to the sanctions imposed under subsection (a), 
the President may impose any of the sanctions 
under section 6 on the principal executive officer or 
officers of any sanctioned person, or on persons per-
forming similar functions as such officer or officers. 
The President shall include on the list published 
under subsection (d) the name of any person on 
whom sanctions are imposed under this paragraph. 
‘‘(2) ADDITIONAL SANCTIONS.—In addition to 
the sanctions imposed under paragraph (1), the 
President may block the property of any person de-
scribed in paragraph (1), and prohibit transactions 
in such property, to the same extent as the property 
of a foreign person determined to have committed 
acts of terrorism for purposes of Executive Order 
No. 13224 of September 23, 2001 (50 U.S.C. 1701 
note).’’. 
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SEC. 304. UNITED STATES EFFORTS TO PREVENT INVEST-
MENT. 
Section 5 of the Iran Sanctions Act of 1996 is 
amended by adding the following new subsection at the 
end: 
‘‘(h) UNITED
STATES
EFFORTS
TO
ADDRESS 
PLANNED INVESTMENT.— 
‘‘(1) REPORTS ON INVESTMENT ACTIVITY.—Not 
later than January 30, 2008, and every 6 months 
thereafter, the President shall transmit to the Com-
mittee on Foreign Affairs of the House of Rep-
resentatives and the Committee on Foreign Rela-
tions of the Senate a report on investment and pre- 
investment activity, by any person or entity, that 
could contribute to the enhancement of Iran’s ability 
to develop petroleum resources in Iran. For each 
such activity, the President shall provide a descrip-
tion of the activity, any information regarding when 
actual investment may commence, and what steps 
the United States has taken to respond to such ac-
tivity. 
‘‘(2) DEFINITION.—In this subsection— 
‘‘(A) the term ‘investment’ includes the ex-
tension by a financial institution of credit or 
other financing to a person for that person’s in-
vestment; and 
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‘‘(B) the term ‘pre-investment activity’ 
means any activity indicating an intent to make 
an investment, including a memorandum of un-
derstanding among parties indicating such an 
intent.’’ 
SEC. 305. CLARIFICATION AND EXPANSION OF DEFINI-
TIONS. 
(a) PERSON.—Section 14(13)(B) of the Iran Sanc-
tions Act of 1996 (50 U.S.C. 1701 note) is amended to 
read as follows: 
‘‘(B)(i) a corporation, business association, 
partnership, society, trust, financial institution, 
insurer, underwriter, guarantor, and any other 
business organization; 
‘‘(ii) any foreign subsidiary of any entity 
described in clause (i); and 
‘‘(iii) any government entity operating as a 
business enterprise, such as an export credit 
agency; and’’. 
(b) DEVELOPMENT AND INVESTMENT.—Section 14 
of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) 
is amended— 
(1) in paragraph (4), by inserting ‘‘tanker or’’ 
after ‘‘transportation by’’; and 
(2) in paragraph (9)— 
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(A) by inserting after subparagraph (C) 
the following: 
‘‘(D) The sale of an oil tanker or liquefied 
natural gas tanker.’’; and 
(B) in the second sentence, by inserting ‘‘, 
other than a sale described in subparagraph 
(D)’’ after ‘‘goods, service, or technology’’. 
SEC. 306. REMOVAL OF WAIVER AUTHORITY. 
(a) SIX-MONTH WAIVER AUTHORITY.—Section 4 of 
the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) 
is amended— 
(1) in subsection (d)(1), by striking ‘‘except 
those with respect to which the President has exer-
cised the waiver authority of subsection (c)’’; 
(2) by striking subsection (c); and 
(3) by redesignating subsections (d), (e), and 
(f) as subsections (c), (d), and (e), respectively. 
(b) GENERAL WAIVER AUTHORITY.—Section 9 of the 
Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is 
amended by striking subsection (c). 
SEC. 307. CLARIFICATION OF AUTHORITY. 
Section 6(6) of the Iran Sanctions Act of 1996 (50 
U.S.C. 1701 note) is amended by inserting ‘‘the authori-
ties under’’ after ‘‘in accordance with’’. 
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SEC. 308. APPLICABILITY OF CERTAIN AMENDMENTS. 
The amendments made by sections 302, 305, and 306 
shall apply with respect to acts done on or after August 
3, 2007. 
TITLE IV—ADDITIONAL 
MEASURES 
SEC. 401. ADDITIONS TO TERRORISM AND OTHER LISTS. 
(a) DETERMINATIONS AND REPORT.—Not later than 
120 days after the date of the enactment of this Act, the 
President shall— 
(1) determine whether the Iranian Islamic Rev-
olutionary Guards Corps (in this section referred to 
as ‘‘IRGC’’) should be— 
(A) designated as a foreign terrorist orga-
nization under section 219 of the Immigration 
and Nationality Act (8 U.S.C. 1189); 
(B) placed on the list of specially des-
ignated global terrorists; and 
(C) placed on the list of weapons of mass 
destruction proliferators and their supporters; 
and 
(2) report the determinations under paragraph 
(1) to the Committee on Foreign Affairs of the 
House of Representatives and the Committee on 
Foreign Relations of the Senate, including, if the 
President determines that such Corps should not be 
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so designated or placed on either such list, the jus-
tification for the President’s determination. 
(b) EXTENSION OF AUTHORITY.—The President may 
block all property and interests in property of the fol-
lowing persons, to the same extent as property and inter-
ests in property of a foreign person determined to have 
committed acts of terrorism for purposes of Executive 
Order No. 13224 of September 21, 2001 (50 U.S.C. 1701 
note) may be blocked: 
(1) Persons who assist or provide financial, ma-
terial, or technological support for, or financial or 
other services to or in support of, the IRGC or enti-
ties owned or effectively controlled by the IRGC. 
(2) Persons otherwise associated with the IRGC 
or entities referred to in paragraph (1). 
(c) DEFINITIONS.—In this section— 
(1) the term ‘‘specially designated global ter-
rorist’’ means any person included on the Annex to 
Executive Order No. 13224, of September 23, 2001, 
and any other person identified under section 1 of 
that Executive order whose property and interests in 
property are blocked by that section; and 
(2) the term ‘‘weapons of mass destruction 
proliferators and their supporters’’ means any per-
son included on the Annex to Executive Order No. 
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13382, of June 28, 2005, and any other person 
identified under section 1 of that Executive order 
whose property and interests in property are blocked 
by that section. 
SEC. 402. INCREASED CAPACITY FOR EFFORTS TO COMBAT 
UNLAWFUL OR TERRORIST FINANCING. 
(a) FINDINGS.—The work of the Office of Terrorism 
and Financial Intelligence of the Department of Treasury, 
which includes the Office of Foreign Assets Control and 
the Financial Crimes Enforcement Center, 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.—There is authorized for the 
Secretary of the Treasury $59,466,000 for fiscal year 
2008 and such sums as may be necessary for each of the 
fiscal years 2009 and 2010 for the Office of Terrorism 
and Financial Intelligence. 
(c) 
AUTHORIZATION
AMENDMENT.—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 ‘‘$85,844,000 
for fiscal year 2008 and such sums as may be necessary 
for each of the fiscal years 2009 and 2010’’. 
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SEC. 403. EXCHANGE PROGRAMS WITH THE PEOPLE OF 
IRAN. 
(a) SENSE OF CONGRESS.—It is the sense of the Con-
gress that the United States should seek to enhance its 
friendship with the people of Iran, particularly by identi-
fying young people of Iran to come to the United States 
under United States exchange programs. 
(b) 
EXCHANGE
PROGRAMS
AUTHORIZED.—The 
President is authorized to carry out exchange programs 
with the people of Iran, particularly the young people of 
Iran. Such programs shall be carried out to the extent 
practicable in a manner consistent with the eligibility for 
assistance requirements specified in section 302(b) of the 
Iran Freedom Support Act (Public Law 109–293). 
(c) AUTHORIZATION.—Of the amounts available to 
the Department of State for ‘‘Educational and Cultural 
Exchanges’’ to carry out the Mutual Educational and Cul-
tural Exchange Act of 1961, there is authorized to be ap-
propriated to the President to carry out this section the 
sum of $10,000,000 for fiscal year 2008. 
SEC. 404. REDUCING CONTRIBUTIONS TO THE WORLD 
BANK. 
The President of the United States shall reduce the 
total amount otherwise payable on behalf of the United 
States to the International Bank for Reconstruction and 
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Development for each fiscal year by the percentage rep-
resented by— 
(1) the total of the amounts provided by the 
Bank to entities in Iran, or for projects and activi-
ties in Iran, in the then-preceding fiscal year; di-
vided by 
(2) the total of the amounts provided by the 
Bank to all entities, or for all projects and activities, 
in the then-preceding fiscal year. 
SEC. 405. RESTRICTIONS ON NUCLEAR COOPERATION WITH 
COUNTRIES ASSISTING THE NUCLEAR PRO-
GRAM OF IRAN. 
(a) IN GENERAL.— 
(1) RESTRICTION.—Notwithstanding any other 
provision of law or any international agreement— 
(A) no agreement for cooperation between 
the United States and the government of any 
country that is assisting the nuclear program of 
Iran or transferring advanced conventional 
weapons or missiles to Iran may be submitted 
to the President or to Congress pursuant to 
section 123 of the Atomic Energy Act of 1954 
(42 U.S.C. 2153), 
(B) no such agreement may enter into 
force with such country, 
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(C) no license may be issued for export di-
rectly or indirectly to such country of any nu-
clear material, facilities, components, or other 
goods, services, or technology that would be 
subject to such agreement, and 
(D) no approval may be given for the 
transfer or retransfer directly or indirectly to 
such country of any nuclear material, facilities, 
components, or other goods, services, or tech-
nology that would be subject to such agreement, 
until the President makes the determination and re-
port under paragraph (2). 
(2) DETERMINATION AND REPORT.—The deter-
mination and report referred to in paragraph (1) are 
a determination and report by the President, sub-
mitted to the Committee on Foreign Relations of the 
Senate and the Committee on Foreign Affairs of the 
House of Representatives, that— 
(A) Iran has ceased its efforts to design, 
develop, or acquire a nuclear explosive device or 
related materials or technology; or 
(B) the government of the country that is 
assisting the nuclear program of Iran or trans-
ferring advanced conventional weapons or mis-
siles to Iran— 
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(i) has suspended all nuclear assist-
ance to Iran and all transfers of advanced 
conventional weapons and missiles to Iran; 
and 
(ii) is committed to maintaining that 
suspension until Iran has implemented 
measures that would permit the President 
to make the determination described in 
subparagraph (A). 
(b) CONSTRUCTION.—The restrictions in subsection 
(a)— 
(1) shall apply in addition to all other applica-
ble procedures, requirements, and restrictions con-
tained in the Atomic Energy Act of 1954 and other 
laws; and 
(2) shall not be construed as affecting the valid-
ity of agreements for cooperation that are in effect 
on the date of the enactment of this Act. 
(c) DEFINITIONS.—In this section: 
(1) AGREEMENT FOR COOPERATION.—The term 
‘‘agreement for cooperation’’ has the meaning given 
that term in section 11 b. of the Atomic Energy Act 
of 1954 (42 U.S.C. 2014(b)). 
(2) ASSISTING
THE
NUCLEAR
PROGRAM
OF 
IRAN.—The term ‘‘assisting the nuclear program of 
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Iran’’ means the intentional transfer to Iran by a 
government, or by a person subject to the jurisdic-
tion of a government with the knowledge and acqui-
escence of that government, of goods, services, or 
technology listed on the Nuclear Suppliers Group 
Guidelines for the Export of Nuclear Material, 
Equipment and Technology (published by the Inter-
national Atomic Energy Agency as Information Cir-
cular INFCIRC/254/Rev. 3/Part 1, and subsequent 
revisions), or the Nuclear Suppliers Group Guide-
lines for Transfers of Nuclear-Related Dual-Use 
Equipment, Material, and Related Technology (pub-
lished by the International Atomic Energy Agency as 
Information Circular INFCIR/254/Rev. 3/Part 2, 
and subsequent revisions). 
(3) COUNTRY
THAT
IS
ASSISTING
THE
NU-
CLEAR PROGRAM OF IRAN OR TRANSFERRING AD-
VANCED CONVENTIONAL WEAPONS OR MISSILES TO 
IRAN.—The term ‘‘country that is assisting the nu-
clear program of Iran or transferring advanced con-
ventional weapons or missiles to Iran’’ means— 
(A) the Russian Federation; and 
(B) any other country determined by the 
President to be assisting the nuclear program 
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of Iran or transferring advanced conventional 
weapons or missiles to Iran. 
(4) TRANSFERRING ADVANCED CONVENTIONAL 
WEAPONS OR MISSILES TO IRAN.—The term ‘‘trans-
ferring advanced conventional weapons or missiles to 
Iran’’ means the intentional transfer to Iran by a 
government, or by a person subject to the jurisdic-
tion of a government with the knowledge and acqui-
escence of that government, of goods, services, or 
technology listed on— 
(A) the Wassenaar Arrangement list of 
Dual Use Goods and Technologies and Muni-
tions list of July 12, 1996, and subsequent revi-
sions; or 
(B) the Missile Technology Control Regime 
Equipment and Technology Annex of June 11, 
1996, and subsequent revisions. 
(d) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall apply to expense paid or incurred on 
or after January 1, 2007. 
TITLE V—MISCELLANEOUS 
PROVISIONS 
SEC. 501. TERMINATION. 
(a) TERMINATION.—The restrictions provided in sec-
tions 203, 404, and 405 shall cease to be effective with 
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respect to Iran on the date on which the President deter-
mines and certifies to the appropriate congressional com-
mittees that Iran— 
(1) has ceased its efforts to design, develop, 
manufacture, or acquire— 
(A) a nuclear explosive device or related 
materials and technology; 
(B) chemical and biological weapons; and 
(C) ballistic missiles and ballistic missile 
launch technology; 
(2) has been removed from the list of countries 
the governments of which have been determined, for 
purposes of section 6(j) of the Export Administra-
tion Act of 1979 (50 U.S.C. 2405(j)), section 620A 
of the Foreign Assistance Act of 1961, section 40 of 
the Arms Export Control Act, or any other provision 
of law, to have repeatedly provided support for acts 
of international terrorism; and 
(3) poses no significant threat to United States 
national security, interests, or allies. 
(b) DEFINITION.—In subsection (a), the term ‘‘ap-
propriate congressional committees’’ means the Com-
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mittee on Foreign Affairs of the House of Representatives 
and the Committee on Foreign Relations of the Senate. 
Passed the House of Representatives September 25, 
2007. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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