of that government, of goods, services, or technology 
listed on— 
(A) the Wassenaar Arrangement list of 
Dual Use Goods and Technologies and Munitions 
list of July 12, 1996, and subsequent revisions; 
or 
(B) the Missile Technology Control Regime 
Equipment and Technology Annex of June 11, 
1996, and subsequent revisions. 
SEC. 406. ELIMINATION OF CERTAIN TAX INCENTIVES FOR 
OIL COMPANIES INVESTING IN IRAN. 
(a) IN GENERAL.—Subsection (h) of section 167 of the 
Internal Revenue Code of 1986 (relating to amortization 
of geological and geophysical expenditures) is amended by 
adding at the end the following new paragraph: 
‘‘(6) DENIAL
WHEN
IRAN
SANCTIONS
IN
EF-
FECT.— 
‘‘(A) IN
GENERAL.—If sanctions are im-
posed under section 5(a) of the Iran Sanctions 
Act of 1996 (relating to sanctions with respect to 
the development of petroleum resources of Iran) 
on any member of an expanded affiliated group 
the common parent of which is a foreign cor-
poration, paragraph (1) shall not apply to any 
expense paid or incurred by any such member in 
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any period during which the sanctions are in ef-
fect. 
‘‘(B) EXPANDED AFFILIATED GROUP.—For 
purposes of subparagraph (A), the term ‘ex-
panded affiliated group’ means an affiliated 
group as defined in section 1504(a), deter-
mined— 
‘‘(i) by substituting ‘more than 50 per-
cent’ for ‘at least 80 percent’ each place it 
appears, and 
‘‘(ii) without regard to paragraphs (2), 
(3), and (4) of section 1504(b).’’. 
(b) EFFECTIVE DATE.—The amendment made by sub-
section (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 re-
spect to Iran om the date on which the President determines 
and certifies to the appropriate congressional committees 
that Iran— 
(1) has ceased its efforts to design, develop, man-
ufacture, or acquire— 
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(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 Administration 
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 ‘‘appro-
priate congressional committees’’ means the Committee on 
Foreign Affairs of the House of Representatives and the 
Committee on Foreign Relations of the Senate. 
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Union Calendar No. 215 
110TH CONGRESS 
1ST SESSION 
H. R. 1400 
[Report No. 110–294, Part 1] 
A BILL 
To enhance United States diplomatic efforts with 
respect to Iran by imposing additional economic 
sanctions against Iran, and for other purposes. 
SEPTEMBER 24, 2007 
Committees on Ways and Means, Financial Services, 
Oversight and Government Reform, and the Judiciary 
discharged; committed to the Committee of the Whole 
House on the State of the Union and ordered to be 
printed 
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