I 
109TH CONGRESS 
1ST SESSION H. R. 1743 
To encourage divestiture of current investments in Iran and discourage future 
investments in Iran and to require disclosure to investors of information 
relating to such investments. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 20, 2005 
Ms. ROS-LEHTINEN (for herself, Mr. LANTOS, Mr. CHABOT, and Mr. ACKER-
MAN) introduced the following bill; which was referred to the Committee 
on Financial Services, and in addition to the Committees on Government 
Reform and Education and the Workforce, for a period to be subse-
quently determined by the Speaker, in each case for consideration of such 
provisions as fall within the jurisdiction of the committee concerned 
A BILL 
To encourage divestiture of current investments in Iran and 
discourage future investments in Iran and to require 
disclosure to investors of information relating to such 
investments. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. UNITED STATES PENSION PLANS. 
(a) FINDINGS.—Congress finds the following: 
(1) The United States and the international 
community face no greater threat to their security
than the prospect of rogue regimes who support 
international terrorism obtaining weapons of mass 
destruction, and particularly nuclear weapons. 
(2) Iran is the leading state sponsor of inter-
national terrorism and is close to achieving nuclear 
weapons capability but has paid no price for nearly 
twenty years of deception over its nuclear program. 
Foreign entities that have invested in Iran’s energy 
sector, despite Iran’s support of international ter-
rorism and its nuclear program, have afforded Iran 
a free pass while many United States entities have 
unknowingly invested in those same foreign entities. 
(3) United States investors have a great deal at 
stake in preventing Iran from acquiring nuclear 
weapons. 
(4) United States investors can have consider-
able influence over the commercial decisions of the 
foreign entities in which they have invested. 
(b) PUBLICATION
IN
FEDERAL
REGISTER.—Not 
later than six months after the date of the enactment of 
this Act and every six months thereafter, the President 
shall ensure publication in the Federal Register of a list 
of all United States and foreign entities that have invested 
more than $20,000,000 in Iran’s energy sector between 
August 5, 1996, and the date of such publication. Such
list shall include an itemization of individual investments 
of each such entity, including the dollar value, intended 
purpose, and current status of each such investment. 
(c) SENSE OF CONGRESS RELATING TO DIVESTI-
TURE FROM IRAN.—It is the sense of Congress that, upon 
publication of a list in the relevant Federal Register under 
subsection (b), managers of United States Government 
pension plans or thrift savings plans, managers of pension 
plans maintained in the private sector by plan sponsors 
in the United States, and managers of mutual funds sold 
or distributed in the United States should immediately ini-
tiate efforts to divest all investments of such plans or 
funds in any entity included on the list. 
(d) SENSE OF CONGRESS RELATING TO PROHIBI-
TION ON FUTURE INVESTMENT.—It is the sense of Con-
gress that, upon publication of a list in the relevant Fed-
eral Register under subsection (b), there should be no fu-
ture investment in any entity included on the list by man-
agers of United States Government pension plans or thrift 
savings plans, managers of pension plans maintained in 
the private sector by plan sponsors in the United States, 
and managers of mutual funds sold or distributed in the 
United States. 
(e) DISCLOSURE TO INVESTORS.—
(1) IN GENERAL.—Not later than 30 days after 
the date of publication of a list in the relevant Fed-
eral Register under subsection (b), managers of 
United States Government pension plans or thrift 
savings plans, managers of pension plans maintained 
in the private sector by plan sponsors in the United 
States, and managers of mutual funds sold or dis-
tributed in the United States shall notify investors 
that the funds of such investors are invested in an 
entity included on the list. Such notification shall 
contain the following information: 
(A) The name or other identification of the 
entity. 
(B) The amount of the investment in the 
entity. 
(C) The potential liability to the entity if 
sanctions are imposed by the United States on 
Iran or on the entity. 
(D) The potential liability to investors if 
such sanctions are imposed. 
(2) FOLLOW-UP NOTIFICATION.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (C), in addition to the notifica-
tion required under paragraph (1), such man-
agers shall also include such notification in
every prospectus and in every regularly pro-
vided quarterly, semi-annual, or annual report 
provided to investors, if the funds of such inves-
tors are invested in an entity included on the 
list. 
(B) CONTENTS
OF
NOTIFICATION.—The 
notification described in subparagraph (A) shall 
be displayed prominently in any such pro-
spectus or report and shall contain the informa-
tion described in paragraph (1). 
(C) GOOD-FAITH
EXCEPTION.—If, upon 
publication of a list in the relevant Federal 
Register under subsection (b), such managers 
verifiably divest all investments of such plans or 
funds in any entity included on the list and 
such managers do not initiate any new invest-
ment in any other such entity, such managers 
shall not be required to include the notification 
described in subparagraph (A) in any pro-
spectus or report provided to investors. 
SEC. 2. REPORT BY OFFICE OF GLOBAL SECURITY RISKS. 
Not later than 30 days after the date of publication 
of a list in the relevant Federal Register under section 
206(b), the Office of Global Security Risks within the Di-
vision of Corporation Finance of the United States Securi-
ties and Exchange Commission shall issue a report con-
taining a list of the United States and foreign entities 
identified in accordance with such section, a determination 
of whether or not the operations in Iran of any such entity 
constitute a political, economic, or other risk to the United 
States, and a determination of whether or not the entity 
faces United States litigation, sanctions, or similar cir-
cumstances that are reasonably likely to have a material 
adverse impact on the financial condition or operations of 
the entity. 
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