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.

Bill: 109-hr-1743
Sponsor: Rep. Ros-Lehtinen, Ileana [R-FL-18]
Introduced: 2005-04-20 in the House
Policy area: Foreign Trade and International Finance
Subjects: American investments
Armed Forces and National Security
Arms control
Civil service retirement
Commerce
Corporate divestiture
Crime and Law Enforcement
Energy
Energy industries
Federal employees
Finance and Financial Sector
Foreign corporations
Foreign investments
Government Operations and Politics
Government paperwork
Government publicity
Information disclosure (Securities law)
International Affairs
Iran
Labor and Employment
Law
Liability (Law)
Middle East and North Africa
Mutual funds
Nuclear nonproliferation
Nuclear weapons
Pension funds
Sanctions (International law)
State-sponsored terrorism
Weapons of mass destruction

Summary:
action_date: 2005-04-20
text: 
Directs the President to ensure publication in the Federal Register of all U.S. and foreign entities that have invested more than $20 million in Iran's energy sector between August 5, 1996, and the date of such publication.
 
Requires such list to include an itemization of individual investments of each such entity.
 
Expresses the sense of Congress that, upon such publication, managers of federal 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 initiate efforts to divest all investments of such plans or funds in any entity included on the list.
 
Expresses the sense of Congress that, upon such publication, there should be no future investment in any entity included on the list by managers of U.S. 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.
 
Requires disclosure to investors that their funds are invested in an entity included on such list.
 
Requires the Office of Global Security Risks to issue a report listing the U.S. and foreign entities identified in accordance with the relevant Federal Register, including a determination of whether or not: (1) their operations in Iran constitute a risk to the United States; and (2) the entity faces U.S. litigation, sanctions, or similar circumstances that are reasonably likely to have a material adverse impact on the financial condition or operations of the entity.


Legislative actions:
action_date: 2005-05-09
text: Referred to the Subcommittee on Employer-Employee Relations.
action_date: 2005-04-20
text: 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 subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-04-20
text: 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 subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-04-20
text: 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 subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-04-20
text: 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 subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-04-20
text: Introduced in House
action_date: 2005-04-20
text: Introduced in House