To require divestiture of current investments in Iran, to prohibit future investments in Iran, and to require disclosure to investors of information relating to such investments.

Bill: 110-hr-1357
Sponsor: Rep. Ros-Lehtinen, Ileana [R-FL-18]
Introduced: 2007-03-06 in the House
Policy area: Foreign Trade and International Finance
Subjects: American investments
Armed Forces and National Security
Arms control
Biological warfare
Chemical warfare
Civil service retirement
Commerce
Congress
Congress and foreign policy
Congressional oversight
Congressional reporting requirements
Corporate accountability
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
Investments
Investors
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: 2007-03-06
text: 
Directs the President to publish in the Federal Register a list of all U.S. and foreign entities that have invested more than $20 million in Iran's energy sector (including an itemization of individual investments of such entities) between August 5, 1996, and the date of such publication.
 
 Requires managers of federal and private pension plans or thrift savings plans and managers of mutual funds sold or distributed in the United States to: (1) notify investors that their funds are invested in entities included on the list; and (2) take immediate steps, upon notification or publication of such list, to divest all investments of such plans or funds in such entities.
 
 Prohibits, upon such publication, future investment in any entity included on the list by managers of such plans or funds. 
 
Requires the Office of Global Security Risks within the Division of Corporation Finance of the U.S. Securities and Exchange Commission to issue a report on the entities identified on the list, including a determination of whether or not: (1) their operations in Iran constitute a risk to the United States; and (2) such entities face U.S. litigation, sanctions, or similar circumstances that may have a material adverse impact on their financial conditions or operations. 
 
Terminates this Act 30 days after which: (1) the President certifies to Congress that Iran has ceased support for international terrorism; and (2) Iran has permanently ceased acquisition and development of weapons of mass destruction.


Legislative actions:
action_date: 2007-07-30
text: Sponsor introductory remarks on measure. (CR 7/31/2007 H8859)
action_date: 2007-06-05
text: Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
action_date: 2007-03-06
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Education and Labor, 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: 2007-03-06
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Education and Labor, 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: 2007-03-06
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Education and Labor, 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: 2007-03-06
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Education and Labor, 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: 2007-03-06
text: Introduced in House
action_date: 2007-03-06
text: Introduced in House