I 
112TH CONGRESS 
1ST SESSION H. R. 1655 
To enhance United States diplomatic efforts with respect to Iran by imposing 
additional economic sanctions against Iran, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 15, 2011 
Mr. SHERMAN (for himself, Mr. ROYCE, Ms. BERKLEY, Mr. SHULER, Mrs. 
MALONEY, and Mr. POE of Texas) introduced the following bill; which 
was referred to the Committee on Foreign Affairs, and in addition to the 
Committees on Ways and Means, the Judiciary, Financial Services, and 
Oversight and Government Reform, for a period to be subsequently deter-
mined by the Speaker, in each case for consideration of such provisions 
as fall within the jurisdiction of the committee concerned 
A BILL 
To enhance United States diplomatic efforts with respect 
to Iran by imposing additional economic sanctions 
against 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 AND TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Stop Iran’s Nuclear Weapons Program Act of 2011’’. 
(b) TABLE OF CONTENTS.—The table of contents for 
this Act is as follows: 
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Sec. 1. Short title and table of contents. 
Sec. 2. Findings. 
TITLE I—ADDITIONAL SANCTIONS WITH RESPECT TO IRAN 
Sec. 101. Expansion of sanctions under the Iran Sanctions Act of 1996. 
Sec. 102. Application to subsidiaries. 
Sec. 103. Additional export sanctions against Iran. 
Sec. 104. Elimination of certain tax incentives for oil companies investing in 
Iran. 
Sec. 105. Inadmissibility of certain aliens who engage in certain activities with 
respect to Iran. 
Sec. 106. Temporary increase in fee for certain consular services. 
TITLE II—APPLICATION OF SANCTIONS AGAINST AFFILIATES OF 
IRAN’S ISLAMIC REVOLUTIONARY GUARD CORPS 
Sec. 201. Sanctions against affiliates of Iran’s Islamic Revolutionary Guard 
Corps. 
Sec. 202. Measures against foreign persons or entities supporting Iran’s Islamic 
Revolutionary Guard Corps. 
Sec. 203. Special measures against foreign countries supporting Iran’s Islamic 
Revolutionary Guard Corps. 
Sec. 204. Rule of construction. 
Sec. 205. Definitions. 
Sec. 206. Sunset. 
TITLE III—OPPOSITION OF TRANSFER TO IRAN, NORTH KOREA, 
AND SYRIA OF GOODS, SERVICES, OR TECHNOLOGY RELEVANT 
TO THEIR CAPABILITY TO EXTRACT OR MILL URANIUM ORE 
Sec. 301. Statement of policy. 
Sec. 302. Reporting requirements under the Iran, North Korea, and Syria Non-
proliferation Act. 
Sec. 303. Conforming amendments. 
TITLE IV—ROLLOVER OF GAIN FROM DIVESTING CERTAIN 
QUALIFIED SECURITIES OF BUSINESS ENTITIES ENGAGED IN 
DISCOURAGED ACTIVITIES IN IRAN 
Sec. 401. Rollover of gain from divesting certain qualified securities of business 
entities engaged in discouraged activities in Iran. 
TITLE V—PROHIBITION ON UNITED STATES GOVERNMENT CON-
TRACTS AND INVESTMENT FOR COMPANIES CONDUCTING 
BUSINESS IN IRAN 
Sec. 501. Prohibition on United States Government contracts. 
Sec. 502. Authority of State and local governments to restrict contracts or li-
censes for certain sanctionable persons. 
Sec. 503. United States pension plans. 
Sec. 504. Definitions. 
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Sec. 505. Sunset. 
TITLE VI—TERMINATION OF LOAN DISBURSEMENTS TO IRAN 
FROM THE INTERNATIONAL BANK FOR RECONSTRUCTION AND 
DEVELOPMENT 
Sec. 601. Termination of loan disbursements to Iran from the International 
Bank for Reconstruction and Development. 
Sec. 602. United States opposition to new country assistance strategy for Iran. 
Sec. 603. Sunset. 
Sec. 604. Rule of interpretation. 
SEC. 2. FINDINGS. 
Congress finds the following: 
(1) On July 1, 2010, President Obama signed 
into law the Comprehensive Iran Sanctions, Ac-
countability, and Divestment Act of 2010 (Public 
Law 111–195; 124 Stat. 1312). 
(2) In the wake of this new United States law 
and United Nations Security Council Resolution 
1929 (2010) with respect to Iran, the European 
Union, Japan, South Korea, Australia, and other 
friends and allies of the United States also imposed 
significant economic sanctions on Iran. 
(3) According to the report of the Director 
General of the International Atomic Energy Agency 
titled ‘‘Implementation of the NPT Safeguards 
Agreement and relevant provisions of Security Coun-
cil resolutions in the Islamic Republic of Iran’’, 
dated February 25, 2011, Iran continues to defy the 
international community by continuing uranium en-
richment activities, failing to suspend heavy water- 
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related projects, failing to provide sufficient coopera-
tion to the Agency to resolve outstanding suspicions 
about potential military dimensions of its program, 
withholding requested design information regarding 
various facilities and equipment, and by not imple-
menting the Additional Protocol to the NPT Safe-
guards Agreement. 
(4) While the United States and several like- 
minded countries have worked individually and in 
concert to increase the diplomatic and economic iso-
lation of Iran in an effort to convince the Govern-
ment of Iran to abandon sensitive nuclear activities, 
the United States and like-minded countries must do 
more in the coming months to achieve that goal. 
TITLE 
I—ADDITIONAL 
SANC-
TIONS 
WITH 
RESPECT 
TO 
IRAN 
SEC. 101. EXPANSION OF SANCTIONS UNDER THE IRAN 
SANCTIONS ACT OF 1996. 
Section 5(a) of the Iran Sanctions Act of 1996 (Pub-
lic Law 104–172; 50 U.S.C. 1701 note) is amended— 
(1) in the heading, by inserting at the end be-
fore the period the following: ‘‘, ETC’’; and 
(2) by adding at the end the following new 
paragraphs: 
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‘‘(i) ANCILLARY
SERVICES.—In sub-
paragraph (A), the term ‘ancillary services’ 
means underwriting, insurance, reinsur-
ance, financing, guarantees, brokering, or 
providing ships or shipping services. 
‘‘(ii) LONG-TERM
AGREEMENT.—In 
subparagraph (A)(i), the term ‘long-term 
agreement’ means a contract or other 
agreement that provides for delivery of pe-
troleum resources beginning more than 1 
year after the date of entry into the con-
tract or agreement (as the case may be). 
‘‘(iii) FUTURE
DELIVERY.—In sub-
paragraph (A)(ii), the term ‘future deliv-
ery’ means delivery that occurs more than 
180 days after payment is effected under 
the agreement. 
‘‘(5) PURCHASE, SUBSCRIPTION TO, OR FACILI-
TATION OF THE ISSUANCE OF IRANIAN SOVEREIGN 
DEBT.—Except as provided in subsection (f), the 
President shall impose 3 or more of the sanctions 
described in section 6(a) with respect to a person if 
the President determines that the person knowingly, 
on or after the date of the enactment of the Stop 
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Iran’s Nuclear Weapons Program Act of 2011, pur-
chases, subscribes to, or facilitates the issuance of— 
‘‘(A) sovereign debt of the Government of 
Iran, including governmental bonds; or 
‘‘(B) debt of any entity owned or con-
trolled by the Government of Iran, including 
bonds.’’. 
SEC. 102. APPLICATION TO SUBSIDIARIES. 
(a) IN GENERAL.—Except as provided in subsection 
(b), in any case in which an entity engages in an act out-
side the United States which, if committed in the United 
States or by a United States person, would violate Execu-
tive Order 12959 (50 U.S.C. 1701 note) or Executive 
Order 13059 (50 U.S.C. 1701 note) (or any successor 
thereto), section 103 of the Comprehensive Iran Sanc-
tions, Accountability, and Divestment Act of 2010 (Public 
Law 111–195; 22 U.S.C. 8512), or any other prohibition 
on transactions with respect to Iran that is imposed under 
the International Emergency Economic Powers Act (50 
U.S.C. 1701 et seq.), the parent company of that entity 
shall be subject to the penalties for the act to the same 
extent as if the parent company had engaged in the act. 
(b) EXCEPTION.—Subsection (a) shall not apply to 
a parent company of an entity for an act described in sub-
section (a) if— 
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(1) within 90 days after the date of the enact-
ment of this Act— 
(A) the parent company causes the entity 
to cease committing acts described in subsection 
(a); or 
(B) the entity ceases committing acts de-
scribed in subsection (a); or 
(2) in the case of an entity acquired by a par-
ent company, within 90 days of acquisition of the 
entity— 
(A) the parent company causes the entity 
to cease committing acts described in subsection 
(a); or 
(B) the entity ceases committing acts de-
scribed in subsection (a). 
(c) CONSTRUCTION.—Nothing in this section shall be 
construed as prohibiting the issuance of regulations, or-
ders, directives, or licenses under the Executive orders de-
scribed in subsection (a) or as being inconsistent with the 
authorities under the International Emergency Economic 
Powers Act. 
(d) DEFINITIONS.—In this section: 
(1) ENTITY.—The term ‘‘entity’’ means a part-
nership, association, trust, joint venture, corpora-
tion, or other organization. 
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(2) PARENT COMPANY.—An entity is a ‘‘parent 
company’’ of another entity if it controls, directly or 
indirectly, that other entity and is a United States 
person. 
(3) 
UNITED
STATES
PERSON.—The 
term 
‘‘United States person’’ means any United States 
citizen, any alien lawfully admitted for permanent 
residence to the United States, any entity organized 
under the laws of the United States, or any person 
in the United States. 
SEC. 103. ADDITIONAL EXPORT SANCTIONS AGAINST IRAN. 
Notwithstanding section 103(b)(2)(B)(iv) of the 
Comprehensive Iran Sanctions, Accountability, and Di-
vestment Act of 2010 (Public Law 111–195; 22 U.S.C. 
8512(b)(2)(B)(iv)) or section 1606 of the Iran-Iraq Arms 
Non-Proliferation Act of 1992 (Public Law 102–484; 50 
U.S.C. 1701 note) or any other provision of law, effective 
on the date of the enactment of this Act— 
(1) licenses to export or reexport goods, serv-
ices, or technology relating to civil aviation of United 
States origin to Iran may not be issued, and any 
such license issued before such date of enactment is 
no longer valid; and 
(2) goods, services, or technology described in 
paragraph (1) may not be exported or reexported. 
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SEC. 104. 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 amortiza-
tion of geological and geophysical expenditures) is amend-
ed 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 
corporation, paragraph (1) shall not apply to 
any expense paid or incurred by any such mem-
ber in any period during which the sanctions 
are in effect. 
‘‘(B) AFFIRMATION OF COMPLIANCE.— 
‘‘(i) IN
GENERAL.—Paragraph (1) 
shall not apply to any expense paid or in-
curred by any member of such group in 
any period in the taxable year unless the 
corporation affirms that it and all mem-
bers of its expanded affiliated group have 
not conducted any activities during the 
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taxable year described in section 5(a) of 
the Iran Sanctions Act of 1996. The affir-
mation required by the preceding sentence 
shall be made on the return of tax for such 
taxable year in the manner required by the 
Secretary. 
‘‘(ii) SPECIAL RULE.—If, with respect 
to any provision under section 5(a) of the 
Iran Sanctions Act of 1996— 
‘‘(I) a certification is made under 
section 4(e)(3) of such Act, and 
‘‘(II) after the certification the 
taxpayer does not conduct any activity 
in violation of the provision, 
any activity by the taxpayer occurring be-
fore the certification with respect to the 
provision shall not be taken into account. 
‘‘(C) EXPANDED
AFFILIATED
GROUP.— 
For purposes of this paragraph, the term ‘ex-
panded affiliated group’ means an affiliated 
group as defined in section 1504(a), deter-
mined— 
‘‘(i) by substituting ‘more than 50 
percent’ for ‘at least 80 percent’ each place 
it appears, and 
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‘‘(ii) without regard to paragraphs 
(2), (3), and (4) of section 1504(b).’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall apply to expenses paid or incurred on 
or after January 1, 2010. 
SEC. 105. INADMISSIBILITY OF CERTAIN ALIENS WHO EN-
GAGE IN CERTAIN ACTIVITIES WITH RESPECT 
TO IRAN. 
(a) IN GENERAL.—Section 212(a)(3) of the Immi-
gration and Nationality Act (8 U.S.C. 1182(a)(3)) is 
amended by adding at the end the following: 
‘‘(H) INDIVIDUALS WHO ENGAGE IN CER-
TAIN ACTIVITIES WITH RESPECT TO IRAN.— 
‘‘(i) IN GENERAL.—Subject to clause 
(iii), any alien described in clause (ii) is in-
admissible. 
‘‘(ii) ALIENS
DESCRIBED.—An alien 
described in this clause is an alien that the 
Secretary of State determines— 
‘‘(I) engages in— 
‘‘(aa) an activity for which 
sanctions may be imposed pursu-
ant to section 5 of the Iran Sanc-
tions Act of 1996 (Public Law 
104–172; 50 U.S.C. 1701 note); 
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‘‘(bb) an activity— 
‘‘(AA) relating to the 
proliferation 
by 
Iran 
of 
weapons of mass destruction 
or the means of delivery of 
such weapons; and 
‘‘(BB) for which sanc-
tions may be imposed pursu-
ant 
to 
Executive 
Order 
13382 (70 Fed. Reg. 38567) 
(or any successor thereto); 
‘‘(cc) an activity— 
‘‘(AA) relating to sup-
port for international ter-
rorism by the Government of 
Iran; and 
‘‘(BB) for which sanc-
tions may be imposed pursu-
ant 
to 
Executive 
Order 
13224 (66 Fed. Reg. 49079) 
(or any successor thereto); 
or 
‘‘(dd) any other activity with 
respect to Iran for which sanc-
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tions may be imposed pursuant 
to any other provision of law; 
‘‘(II) is the chief executive offi-
cer, president, or other individual in 
charge of overall management of, a 
member of the board of directors of, 
or a shareholder with a controlling in-
terest in, an entity that engages in an 
activity described in subclause (I); or 
‘‘(III) is a spouse or minor child 
of— 
‘‘(aa) an alien who engages 
in an activity described in sub-
clause (I); or 
‘‘(bb) the chief executive of-
ficer, president, or other indi-
vidual in charge of overall man-
agement of, a member of the 
board of directors of, or a share-
holder with a controlling interest 
in, an entity that engages in an 
activity described in subclause 
(I). 
‘‘(iii) NOTICE; WAIVER WITH RESPECT 
TO CERTAIN ENTITIES.— 
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‘‘(I) NOTICE.—The Secretary of 
State may notify an alien the Sec-
retary determines may be inadmissible 
under this subparagraph— 
‘‘(aa) that the alien may be 
inadmissible; and 
‘‘(bb) of the reason for the 
inadmissibility of the alien. 
‘‘(II) WAIVER.—The President 
may waive the application of this sub-
paragraph and admit an alien to the 
United States if— 
‘‘(aa) the alien is described 
in subclause (II) or (III)(bb) of 
clause (ii); 
‘‘(bb) the entity that en-
gaged in the activity that would 
otherwise result in the inadmis-
sibility of the alien under this 
subparagraph is no longer engag-
ing the activity or has taken sig-
nificant steps toward stopping 
the activity; and 
‘‘(cc) the President has re-
ceived reliable assurances that 
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the entity will not knowingly en-
gage in an activity described in 
clause (ii)(I) again.’’. 
(b) REGULATIONS.—Section 428 of the Homeland 
Security Act of 2002 (6 U.S.C. 236) is amended by adding 
at the end the following: 
‘‘(j) REGULATIONS WITH RESPECT
TO INADMIS-
SIBILITY OF ALIENS WHO ENGAGE IN CERTAIN TRANS-
ACTIONS WITH IRAN.—Not later than 180 days after the 
date of the enactment of this subsection, the Secretary 
shall issue regulations and guidelines for interpreting and 
enforcing the prohibition under subparagraph (H) of sec-
tion 212(a)(3) of the Immigration and Nationality Act (8 
U.S.C. 1182(a)(3)) on the admissibility of aliens who en-
gage in certain sanctionable activities with respect to 
Iran.’’. 
SEC. 106. TEMPORARY INCREASE IN FEE FOR CERTAIN 
CONSULAR SERVICES. 
(a) INCREASE IN FEE.—Notwithstanding any other 
provision of law, not later than 120 days after the date 
of the enactment of this Act, the Secretary of State shall 
increase by $1.00 the fee or surcharge assessed under sec-
tion 140(a) of the Foreign Relations Authorization Act, 
Fiscal Years 1994 and 1995 (Public Law 103–236; 8 
U.S.C. 1351 note) for processing machine readable non-
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immigrant visas and machine readable combined border 
crossing identification cards and nonimmigrant visas. 
(b) DEPOSIT OF AMOUNTS.—Fees collected under the 
authority of subsection (a) shall be deposited in the Treas-
ury. 
(c) DURATION OF INCREASE.—The fee increase au-
thorized under subsection (a) shall terminate on the date 
that is one year after the date on which such fee is first 
collected. 
TITLE 
II—APPLICATION 
OF 
SANCTIONS AGAINST AFFILI-
ATES OF IRAN’S ISLAMIC REV-
OLUTIONARY GUARD CORPS 
SEC. 201. SANCTIONS AGAINST AFFILIATES OF IRAN’S IS-
LAMIC REVOLUTIONARY GUARD CORPS. 
(a) IN GENERAL.—Not later than 90 days after the 
date of the enactment of this Act, and as appropriate 
thereafter, the President shall identify in, and, in the case 
of a foreign person or foreign entity not already so des-
ignated, shall designate for inclusion in the Annex to Ex-
ecutive Order 13382 (70 Fed. Reg. 38567; relating to 
blocking property of weapons of mass destruction 
proliferators and their supporters) and shall apply all ap-
plicable sanctions of the United States pursuant to Execu-
tive Order 13382 to each foreign person or foreign entity 
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for which there is a reasonable basis for determining that 
the person or entity is as an agent, alias, front, instrumen-
tality, official, or affiliate of Iran’s Islamic Revolutionary 
Guard Corps or is an individual serving as a representa-
tive of Iran’s Islamic Revolutionary Guard Corps. 
(b) PRIORITY FOR INVESTIGATION.—In carrying out 
this section, the President shall give priority to inves-
tigating foreign persons and foreign entities identified 
under section 560.304 of title 31, Code of Federal Regula-
tions (relating to the definition of the Government of Iran) 
and foreign persons and foreign entities for which there 
is a reasonable basis to suspect that the person or entity 
has conducted or attempted to conduct one or more sen-
sitive transactions or activities described in subsection (c). 
(c) SENSITIVE TRANSACTION OR ACTIVITY.—A sen-
sitive transaction or activity referred to in subsection (b) 
is— 
(1) a financial transaction or series of trans-
actions valued at more than $1,000,000 in the ag-
gregate in any 12-month period involving a non-Ira-
nian financial institution; 
(2) a transaction to facilitate the manufacture, 
import, export, or transfer of items needed for the 
development of nuclear, chemical, biological, or ad-
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vanced conventional weapons, including ballistic mis-
siles; 
(3) a transaction relating to the manufacture, 
procurement, or sale of goods, services, and tech-
nology relating to Iran’s energy sector, including the 
development of the energy resources of Iran, export 
of petroleum products, and import of refined petro-
leum and refining capacity available to Iran; 
(4) a transaction relating to the procurement of 
sensitive technologies (as defined in section 106(c) of 
the Comprehensive Iran Sanctions, Accountability, 
and Divestment Act of 2010 (Public Law 111–195; 
22 U.S.C. 8515(c)); or 
(5) an attempt to interfere in the internal af-
fairs of Iraq or Afghanistan, or equip or train, or 
encourage violence by, individuals or groups opposed 
to the governments of those countries. 
(d) EXCLUSION FROM UNITED STATES.—The Sec-
retary of State shall deny a visa to, and the Secretary of 
Homeland Security shall exclude from the United States, 
any alien who, on or after the date of the enactment of 
this Act, is a foreign person designated for inclusion in 
the Annex to Executive Order 13382 pursuant to sub-
section (a). 
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(e) RULE OF CONSTRUCTION.—Nothing in this sec-
tion shall be construed to remove any sanction of the 
United States in force against Iran’s Islamic Revolu-
tionary Guard Corps as of the date of the enactment of 
this Act by reason of the fact that Iran’s Islamic Revolu-
tionary Guard Corps is an entity of the Government of 
Iran. 
SEC. 202. MEASURES AGAINST FOREIGN PERSONS OR ENTI-
TIES SUPPORTING IRAN’S ISLAMIC REVOLU-
TIONARY GUARD CORPS. 
(a) 
IDENTIFICATION
AND
NOTIFICATION.—The 
President shall notify the appropriate congressional com-
mittees in any case in which the President determines that 
there is credible information indicating that a foreign per-
son or foreign entity, on or after the date of the enactment 
of this Act, knowingly— 
(1) provides material support to Iran’s Islamic 
Revolutionary Guard Corps or any person or entity 
that identified pursuant to section 201(a) as an 
agent, alias, front, instrumentality, official, or affil-
iate of Iran’s Islamic Revolutionary Guard Corps or 
an individual serving as a representative of Iran’s Is-
lamic Revolutionary Guard Corps; or 
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(2) conducts any commercial transaction or fi-
nancial transaction with Iran’s Islamic Revolu-
tionary Guard Corps or any such person or entity. 
(b) WAIVER.— 
(1) IN GENERAL.—Notwithstanding any other 
provision of this title and subject to paragraph (2), 
the President is not required to make any identifica-
tion or designation of or determination with respect 
to a foreign person or foreign entity for purposes of 
this title if doing so would cause damage to the na-
tional security of the United States through the di-
vulgence of sources and methods of intelligence or 
other critical classified information. 
(2) NOTICE
TO
CONGRESS.—The President 
shall notify Congress of any exercise of the authority 
of paragraph (1) and shall include in the notification 
an identification of the foreign person or foreign en-
tity, including a description of the activity or trans-
action that would have caused the identification, des-
ignation, or determination for purposes of this title. 
(c) SANCTIONS.— 
(1) IN GENERAL.—Not later than 60 days after 
the date on which the President provides notice to 
the appropriate congressional committees pursuant 
to subsection (a), the President shall apply to each 
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foreign person or foreign entity identified in the no-
tice, for such time as the President may determine, 
the following sanctions: 
(A) No department or agency of the 
United States Government may procure or 
enter into a contract for the procurement of 
goods or services from the person or entity. 
(B) No products produced by the person or 
entity may be imported into the United States. 
(2) TERMINATION.—The President may termi-
nate the sanctions applied to a foreign person or for-
eign entity pursuant to paragraph (1) if the Presi-
dent determines that the person or entity no longer 
engages in the activity or activities for which the 
sanctions were imposed and has provided assurances 
to the United States Government that it will not en-
gage in the activity or activities in the future. 
(d) IEEPA SANCTIONS.—The President may exer-
cise the authorities provided under section 203(a) of the 
International Emergency Economic Powers Act (50 
U.S.C. 1702(a)) to impose additional sanctions on each 
foreign person or foreign entity identified pursuant to sub-
section (a) of this section, for such time as the President 
may determine, without regard to section 202 of that Act. 
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(e) WAIVER.—The President may waive the applica-
tion of any measure described in subsection (c) with re-
spect to a foreign person or foreign entity if the Presi-
dent— 
(1)(A) determines that the person or entity has 
ceased the activity that resulted in the notification 
under subsection (a) with respect to the person or 
entity (as the case may be) and has taken measures 
to prevent its recurrence; or 
(B) determines that it is vital to the national 
security interests of the United States to do so; and 
(2) submits to the appropriate congressional 
committees a report that contains the reasons for 
the determination. 
SEC. 203. SPECIAL MEASURES AGAINST FOREIGN COUN-
TRIES SUPPORTING IRAN’S ISLAMIC REVOLU-
TIONARY GUARD CORPS. 
(a) SANCTIONS.—With respect to any foreign entity 
identified pursuant to section 202(a) that is an agency of 
the government of a foreign country, the President shall, 
in addition to applying to the entity the sanctions de-
scribed in section 202(c), apply to the foreign country the 
following measures: 
(1) No assistance shall be provided to the for-
eign country under the Foreign Assistance Act of 
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1961, or any successor Act, or the Arms Export 
Control Act, or any successor Act, other than assist-
ance that is intended to benefit the people of the for-
eign country directly and that is not provided 
through governmental agencies or entities of the for-
eign country. 
(2) The United States shall oppose any loan or 
financial or technical assistance to the foreign coun-
try by international financial institutions in accord-
ance with section 701 of the International Financial 
Institutions Act (22 U.S.C. 262d). 
(3) The United States shall deny to the foreign 
country any credit or financial assistance by any de-
partment, agency, or instrumentality of the United 
States Government. 
(4) The United States Government shall not 
approve the sale to the foreign country any defense 
articles or defense services or issue any license for 
the export of items on the United States Munitions 
List. 
(5) No exports to the foreign country shall be 
permitted of any goods or technologies controlled for 
national security reasons under the Export Adminis-
tration Regulations. 
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(6) Restrictions shall be imposed on the impor-
tation into the United States of articles that are the 
growth, product, or manufacture of the foreign coun-
try. 
(7) At the earliest practicable date, the Sec-
retary of State shall terminate, in a manner con-
sistent with international law, the authority of any 
air carrier that is controlled in fact by the govern-
ment of the foreign country to engage in air trans-
portation (as defined in section 40102(5) of title 49, 
United States Code). 
(b) TERMINATION.—The President may terminate 
the sanctions applied to a foreign country pursuant to sub-
section (a) if the President determines that the foreign 
entity involved no longer engages in the activity or activi-
ties for which the sanctions were imposed and has pro-
vided assurances to the United States Government that 
it will not engage in the activity or activities in the future. 
(c) WAIVER.—The President may waive the applica-
tion of any measure described in subsection (a) with re-
spect to a foreign country if the President— 
(1)(A) determines that the entity has ceased 
the activity that resulted in the notification under 
section 202(a) with respect to the entity and has 
taken measures to prevent its recurrence; or 
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(B) determines that it is vital to the national 
security interests of the United States to do so; and 
(2) submits to the appropriate congressional 
committees a report that contains the reasons for 
the determination. 
SEC. 204. RULE OF CONSTRUCTION. 
Nothing in this title shall be construed to limit the 
authority of the President to otherwise designate foreign 
persons or foreign entities for inclusion in the Annex to 
Executive Order 13382 (70 Fed. Reg. 38567; relating to 
blocking property of weapons of mass destruction 
proliferators and their supporters). 
SEC. 205. DEFINITIONS. 
In this title: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means the Committee on Foreign Affairs of 
the House of Representatives and the Committee on 
Foreign Relations of the Senate. 
(2) FOREIGN PERSON.—The term ‘‘foreign per-
son’’ has the meaning given the term in section 14 
of the Iran Sanctions Act of 1996. 
(3) IRAN’S
ISLAMIC
REVOLUTIONARY
GUARD 
CORPS.—The term ‘‘Iran’s Islamic Revolutionary 
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Guard Corps’’ includes the Iran’s Islamic Revolu-
tionary Guard Corps-Qods Force. 
SEC. 206. SUNSET. 
This title shall terminate on the date that is 30 days 
after the date on which the President makes the certifi-
cation described in section 401(a) of the Comprehensive 
Iran Sanctions, Accountability, and Divestment Act of 
2010 (22 U.S.C. 8551(a)). 
TITLE 
III—OPPOSITION 
OF 
TRANSFER TO IRAN, NORTH 
KOREA, 
AND 
SYRIA 
OF 
GOODS, SERVICES, OR TECH-
NOLOGY RELEVANT TO THEIR 
CAPABILITY TO EXTRACT OR 
MILL URANIUM ORE 
SEC. 301. STATEMENT OF POLICY. 
It shall be the policy of the United States— 
(1) to oppose the transfer to Iran, North 
Korea, and Syria of goods, services, or technology 
relevant to the capability of those countries to ex-
tract or mill uranium ore; and 
(2) to work with like-minded countries to im-
pose restrictions on such transfers internationally. 
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SEC. 302. REPORTING REQUIREMENTS UNDER THE IRAN, 
NORTH KOREA, AND SYRIA NONPROLIFERA-
TION ACT. 
Section 2(a) of the Iran, North Korea, and Syria 
Nonproliferation Act (50 U.S.C. 1701 note) is amended— 
(1) in paragraph (1), by redesignating subpara-
graphs (A) through (E) as clauses (i) through (v), 
respectively; 
(2) by redesignating paragraphs (1) and (2) as 
subparagraphs (A) and (B), respectively; 
(3) in subparagraph (B), as redesignated— 
(A) by striking ‘‘paragraph (1)’’ and in-
serting ‘‘subparagraph (A)’’; and 
(B) by striking the period at the end and 
inserting ‘‘; or’’; 
(4) by striking all that precedes subparagraph 
(A), as redesignated, and inserting the following: 
‘‘(a) REPORTS.—The President shall, at the times 
specified in subsection (b), submit to the Committee on 
Foreign Affairs of the House of Representatives and the 
Committee on Foreign Relations of the Senate a report 
identifying every foreign person with respect to whom 
there is credible information indicating that person— 
‘‘(1) on or after January 1, 1999, transferred 
to or acquired from Iran, on or after January 1, 
2005, transferred to or acquired from Syria, or on 
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or after January 1, 2006, transferred to or acquired 
from North Korea—’’; and 
(5) by adding at the end the following new 
paragraph: 
‘‘(2) on or after January 1, 2009, transferred 
to Iran, Syria, or North Korea goods, services, or 
technology that could assist efforts to extract or mill 
uranium ore within the territory or control of Iran, 
North Korea, or Syria.’’. 
SEC. 303. CONFORMING AMENDMENTS. 
The Iran, North Korea, and Syria Nonproliferation 
Act (50 U.S.C. 1701 note) is further amended by striking 
‘‘Committee on International Relations’’ each place it ap-
pears and inserting ‘‘Committee on Foreign Affairs’’. 
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TITLE IV—ROLLOVER OF GAIN 
FROM 
DIVESTING 
CERTAIN 
QUALIFIED 
SECURITIES 
OF 
BUSINESS 
ENTITIES 
EN-
GAGED IN DISCOURAGED AC-
TIVITIES IN IRAN 
SEC. 401. ROLLOVER OF GAIN FROM DIVESTING CERTAIN 
QUALIFIED SECURITIES OF BUSINESS ENTI-
TIES ENGAGED IN DISCOURAGED ACTIVITIES 
IN IRAN. 
(a) IN GENERAL.—Part III of subchapter O of chap-
ter 1 of the Internal Revenue Code of 1986 (relating to 
common nontaxable exchanges) is amended by adding at 
the end the following new section: 
‘‘SEC. 1046. ROLLOVER OF GAIN FROM DIVESTING CERTAIN 
QUALIFIED SECURITIES OF BUSINESS ENTI-
TIES ENGAGED IN DISCOURAGED ACTIVITIES 
IN IRAN. 
‘‘(a) NONRECOGNITION OF GAIN.— 
‘‘(1) IN GENERAL.—In the case of any sale of 
any qualified security held by a taxpayer with re-
spect to which such taxpayer elects the application 
of this section, in any business entity that is en-
gaged in an Iran discouraged activity, gain from 
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such sale shall be recognized only to the extent that 
the amount realized on such sale exceeds— 
‘‘(A) the cost of any qualified replacement 
property purchased by the taxpayer during the 
30-day period beginning on the date of such 
sale, reduced by 
‘‘(B) any portion of such cost previously 
taken into account under this section. 
‘‘(2) 
EXCEPTION
FOR
ORDINARY
INCOME 
GAIN.—This section shall not apply to any gain 
which is treated as ordinary income for purposes of 
this title. 
‘‘(3) EXCEPTION WHERE TAXPAYER OWNS CON-
TROLLING INTEREST IN THE BUSINESS ENTITY.— 
‘‘(A) IN
GENERAL.—Paragraph (1) shall 
not apply to any sale if, immediately before 
such sale, the taxpayer owns a controlling inter-
est in the business entity that is engaged in an 
Iran discouraged activity. 
‘‘(B) CONTROLLING INTEREST.—For pur-
poses of subparagraph (A), the term ‘control-
ling interest’ means direct or indirect ownership 
of at least 50 percent of the total voting power 
and value of all classes of stock of a corpora-
tion. For purposes of the preceding sentence, 
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the rules of paragraphs (1) and (5) of section 
267(c) shall apply. 
‘‘(C) AGGREGATION RULE.—For purposes 
of this paragraph, all members of the same con-
trolled group of corporations (within the mean-
ing of section 267(f)) and all persons under 
common control (within the meaning of section 
52(b) but determined by treating an interest of 
more than 50 percent as a controlling interest) 
shall be treated as 1 person. 
‘‘(b) DEFINITIONS AND SPECIAL RULES RELATING 
TO SECURITIES
AND REPLACEMENT PROPERTY.—For 
purposes of this section— 
‘‘(1) QUALIFIED SECURITY.— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
security’ means any security held by a taxpayer 
in any business entity that is engaged in an 
Iran discouraged activity. 
‘‘(B) EXCEPTION.—Such term shall not in-
clude any security purchased or otherwise ac-
quired after the date of the enactment of this 
section which, at the time of such purchase or 
acquisition, was issued by a business entity 
then engaged in an Iran discouraged activity. 
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‘‘(C) SECURITY DEFINED.—The term ‘se-
curity’ has the meaning given such term by sec-
tion 165(g)(2). 
‘‘(2) QUALIFIED REPLACEMENT PROPERTY.— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
replacement property’ means any security of a 
business entity that, on the date of purchase by 
the taxpayer— 
‘‘(i) is not engaged in an Iran discour-
aged activity on such date, 
‘‘(ii) is not a member of an expanded 
affiliated group, any member of which is 
engaged in an Iran discouraged activity on 
such date, and 
‘‘(iii) meets the requirements of sub-
paragraph (B) or paragraph (3). 
‘‘(B) REPLACEMENT PROPERTY.—Property 
meets the requirements of this paragraph if, 
with respect to the sale of any security— 
‘‘(i) except as provided in clause (ii), 
in the case that the security is a share of 
stock in a corporation, the replacement 
property is a share of stock in a corpora-
tion, 
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‘‘(ii) in the case that the security is a 
share of stock of a regulated investment 
company, real estate investment trust, 
hedge fund, investment partnership, or 
similar business entity, the replacement 
property is a share of stock in a regulated 
investment company, real estate invest-
ment trust, hedge fund, investment part-
nership, or similar business entity, 
‘‘(iii) in the case that the security is 
a right to subscribe for, or to receive, a 
share of stock in a corporation, the re-
placement property is a right to subscribe 
for, or to receive, a share of stock in a cor-
poration, and 
‘‘(iv) in the case that the security is 
a bond, debenture, note, or certificate, or 
other evidence of indebtedness issued by a 
corporation, with interest coupons or in 
registered form, the replacement property 
is a bond, debenture, note, or certificate, 
or other evidence of indebtedness issued by 
a corporation, with interest coupons or in 
registered form. 
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‘‘(C) DEEMED INVESTMENT IF INVESTING 
IN
ENTITIES
ENGAGED
IN
DISCOURAGED
AC-
TIVITIES.—Any regulated investment company, 
real estate investment trust, hedge fund, invest-
ment partnership, or similar business entity, 
which invests in the securities— 
‘‘(i) issued by a business entity deter-
mined to be engaging in Iran discouraged 
activities, or 
‘‘(ii) issued by the government of Iran 
or any agency thereof, 
shall be deemed to be a business entity engag-
ing in Iran discouraged activities. 
‘‘(D) BUSINESS
DECLARATION
OF
POL-
ICY.— 
‘‘(i) IN
GENERAL.—Notwithstanding 
any other provision of this section, in the 
case of a business entity described in 
clause (iii), a security in such business en-
tity shall not be treated as qualified re-
placement property unless the business en-
tity has made the following declaration: ‘It 
is our policy not to make investments in 
business entities which engage in Iran dis-
couraged activities as defined in section 
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