ILSA Enhancement and Compliance Act

Bill: 108-hr-3347
Sponsor: Rep. Ros-Lehtinen, Ileana [R-FL-18]
Introduced: 2003-10-20 in the House
Policy area: International Affairs
Subjects: Advanced weapons
Armed Forces and National Security
Arms control
Ballistic missiles
Bank loans
Biological warfare
Chemical warfare
Congress
Congress and foreign policy
Congressional oversight
Congressional reporting requirements
Diplomacy
EBB Terrorism
Economics and Public Finance
Energy
Executive reorganization
Export finance
Exports
Finance and Financial Sector
Foreign Trade and International Finance
Foreign banks and banking
Foreign corporations
Foreign investments
Government Operations and Politics
Government contractors
Government lending
Government paperwork
Government procurement
Governmental investigations
Import restrictions
Independent regulatory commissions
Information disclosure (Securities law)
Insurance companies
Investment guaranty insurance
Iran
Libya
Middle East and North Africa
Military aviation
Negotiations
Nuclear nonproliferation
Nuclear weapons
Petroleum
Petroleum engineering
President and foreign policy
Sanctions (International law)
Science, Technology, Communications
Securities and Exchange Commission
Securities regulation
State-sponsored terrorism
Sunset legislation
Technology transfer
Terrorism
Transportation and Public Works
Weapons of mass destruction

Summary:
action_date: 2003-10-20
text: 
ILSA Enhancement and Compliance Act - Amends the Iran and Libya Sanctions Act of 1996 to urge the President to immediately commence diplomatic efforts to establish a multilateral sanctions regime against Libya (currently limited to Iran). Expands reporting requirements by the President to Congress to cover Libya and specified governmental actions and assistance with respect to Iran or Libya.
 
Authorizes the President to suspend the application of sanctions upon certification that: (1) the suspension is vital to national security; and (2) the country has undertaken substantial measures to prevent the acquisition and development of weapons of mass destruction by the Government of Iran or Libya.
 
Directs the President: (1) upon disclosure of specified activity related to investment in Iran or Libya, to direct the Secretary of the Treasury to initiate an investigation; and (2) to impose two or more of specified mandatory sanctions upon determining that a person has provided to Iran or Libya any goods, services, technology, or other items which significantly and materially contributed to their ability to acquire chemical, biological, or nuclear weapons or specified other capabilities.
 
Makes specified sanctions under the Act mandatory. Repeals the Act's sunset provision.
 
Directs the Securities and Exchange Commission to establish an Office of Global Security Risk to: (1) establish a process for identifying all issuers that are operating in countries (particularly Iran and Libya) whose governments have repeatedly provided support for acts of international terrorism; and (2) ensure and enhance issuer disclosures regarding operations, risks of operating, and activities in such countries.


Legislative actions:
action_date: 2003-11-04
text: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, for a period to be subsequently determined by the Chairman.
action_date: 2003-11-03
text: Referred to the Subcommittee on Trade.
action_date: 2003-10-20
text: Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, Ways and Means, and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-10-20
text: Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, Ways and Means, and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-10-20
text: Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, Ways and Means, and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-10-20
text: Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, Ways and Means, and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-10-20
text: Referred to the Committee on International Relations, and in addition to the Committees on Financial Services, Ways and Means, and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2003-10-20
text: Introduced in House
action_date: 2003-10-20
text: Introduced in House