SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Iran Terror Finance 
Transparency Act’’. 
SEC. 2. CERTIFICATION REQUIREMENT FOR REMOVAL OF 
FOREIGN FINANCIAL INSTITUTIONS, INCLUD-
ING 
IRANIAN 
FINANCIAL 
INSTITUTIONS, 
FROM THE LIST OF SPECIALLY DESIGNATED 
NATIONALS AND BLOCKED PERSONS. 
(a) IN GENERAL.—On or after July 19, 2015, the 
President may not remove a foreign financial institution, 
including an Iranian financial institution, described in 
subsection (b) from the list of specially designated nation-
als and blocked persons maintained by the Office of For-
eign Asset Control of the Department of the Treasury un-
less and until the President submits to the appropriate 
congressional committees a certification described in sub-
section (c) with respect to the foreign financial institution. 
(b) COVERED INSTITUTIONS.—A foreign financial in-
stitution, including an Iranian financial institution, de-
scribed in this subsection is a foreign financial institution 
listed in Attachment 3 or Attachment 4 to Annex II of 
the Joint Comprehensive Plan of Action. 
(c) CERTIFICATION.—The President may remove a 
foreign financial institution, including an Iranian financial 
institution, described in subsection (b) from the list of spe-
cially designated nationals and blocked persons main-
tained by the Office of Foreign Asset Control of the De-
partment of the Treasury if the President submits to the 
appropriate congressional committees a certification that 
the foreign financial institution— 
(1) has not knowingly, directly or indirectly, fa-
cilitated a significant transaction or transactions or 
provided significant financial services for or on be-
half of— 
(A) Iran’s Revolutionary Guard Corps or 
any of its agents or affiliates whose property or 
interests in property are blocked pursuant to 
the International Emergency Economic Powers 
Act (50 U.S.C. 1701 et seq.); 
(B) a foreign terrorist organization for or 
on behalf of a person whose property or inter-
ests in property have been blocked pursuant to 
Executive Order No. 13224 (66 Fed. Reg. 
49079; relating to blocking property and pro-
hibiting transactions with persons who commit, 
threaten to commit, or support terrorism); and 
(C) a person whose property or interests in 
property are blocked pursuant to the Inter-
national Emergency Economic Powers Act in 
connection with Iran’s proliferation of weapons 
of mass destruction or delivery systems for
weapons of mass destruction, or to further 
Iran’s development of ballistic missiles and de-
stabilizing types and amounts of conventional 
weapons; and 
(2) no longer knowingly engages in illicit or de-
ceptive financial transactions or other activities. 
(d) FORM.—A certification described in subsection 
(c) shall be submitted in unclassified form, but may con-
tain a classified annex. 
(e) DEFINITIONS.—In this section: 
(1) FOREIGN
FINANCIAL
INSTITUTION.—The 
term ‘‘foreign financial institution’’ has the meaning 
given such term in section 1010.605 of title 31, 
Code of Federal Regulations. 
(2) FOREIGN TERRORIST ORGANIZATION.—The 
term ‘‘foreign terrorist organization’’ means any or-
ganization designated by the Secretary of State as a 
foreign terrorist organization in accordance with sec-
tion 219(a) of the Immigration and Nationality Act 
(8 U.S.C. 1189(a)). 
(3) IRANIAN
FINANCIAL
INSTITUTION.—The 
term ‘‘Iranian financial institution’’ has the meaning 
given the term in section 104A(d)(3) of the Com-
prehensive Iran Sanctions, Accountability, and Di-
vestment Act of 2010 (22 U.S.C. 8513b(d)(3)).
SEC. 3. CERTIFICATION REQUIREMENT FOR REMOVAL OF 
CERTAIN FOREIGN PERSONS FROM THE LIST 
OF SPECIALLY DESIGNATED NATIONALS AND 
BLOCKED PERSONS. 
(a) IN GENERAL.—On or after July 19, 2015, the 
President may not remove a foreign person described in 
subsection (b) from the list of specially designated nation-
als and blocked persons maintained by the Office of For-
eign Asset Control of the Department of the Treasury 
until the President submits to the appropriate congres-
sional committees a certification described in subsection 
(c) with respect to the foreign person. 
(b) COVERED PERSONS AND ENTITIES.—A foreign 
person described in this subsection is a foreign person list-
ed in Attachment 3 or Attachment 4 to Annex II of the 
Joint Comprehensive Plan of Action. 
(c) CERTIFICATION.—The President may remove a 
foreign person described in subsection (b) from the list 
of specially designated nationals and blocked persons 
maintained by the Office of Foreign Asset Control of the 
Department of the Treasury if the President submits to 
the appropriate congressional committees a certification 
that the foreign person— 
(1) has not knowingly assisted in, sponsored, or 
provided financial, material, or technological support
for, or financial or other services to or in support of 
terrorism or a terrorist organization; and 
(2) has not knowingly engaged in significant ac-
tivities or transactions that have materially contrib-
uted to the Government of Iran’s proliferation of 
weapons of mass destruction or their means of deliv-
ery (including missiles capable of delivering such 
weapons), including any efforts to manufacture, ac-
quire, possess, develop, transport, transfer, or use 
such item. 
(d) FORM.—A certification described in subsection 
(c) shall be submitted in unclassified form, but may con-
tain a classified annex. 
(e) DEFINITIONS.—In this section: 
(1) FOREIGN PERSON.—The term ‘‘foreign per-
son’’— 
(A) means— 
(i) an individual who is not a United 
States person; 
(ii) a corporation, partnership, or 
other nongovernmental entity which is not 
a United States person; or 
(iii) any representative, agent or in-
strumentality of, or an individual working 
on behalf of a foreign government; but
(B) does not include a foreign financial in-
stitution, including an Iranian financial institu-
tion, described in section 2(b). 
(2) 
UNITED
STATES
PERSON.—The 
term 
‘‘United States person’’ means— 
(A) a United States citizen or an alien law-
fully admitted for permanent residence to the 
United States; or 
(B) an entity organized under the laws of 
the United States or of any jurisdiction within 
the United States, including a foreign branch of 
such an entity. 
SEC. 4. CERTIFICATION REQUIREMENT FOR REMOVAL OF 
DESIGNATION OF IRAN AS A JURISDICTION 
OF PRIMARY MONEY LAUNDERING CONCERN. 
(a) IN GENERAL.—The President may not remove 
the designation of Iran as a jurisdiction of primary money 
laundering concern pursuant to section 5318A of title 31, 
United States Code, unless the President submits to the 
appropriate congressional committees a certification de-
scribed in subsection (b) with respect to Iran. 
(b) CERTIFICATION.—The President may remove the 
designation of Iran as a jurisdiction of primary money 
laundering concern if the President submits to the appro-
priate congressional committees a certification that the