Syria Democracy Transition Act of 2012

Bill: 112-s-2152
Sponsor: Sen. Rubio, Marco [R-FL]
Introduced: 2012-03-02 in the Senate
Policy area: International Affairs
Subjects: Arms control and nonproliferation
Business investment and capital
Chemical and biological weapons
Congressional oversight
Diplomacy, foreign officials, Americans abroad
Foreign aid and international relief
Foreign and international banking
Human rights
Insurance industry and regulation
International organizations and cooperation
Marine and inland water transportation
Middle East
Nuclear weapons
Oil and gas
Political movements and philosophies
Protest and dissent
Religion
Sanctions
Sex offenses
Small business
Sovereignty, recognition, national governance and status
Syria
Tariffs
Terrorism
Trade agreements and negotiations
Trade restrictions
Travel and tourism
U.S. and foreign investments
United Nations

Summary:
action_date: 2012-03-02
text: 
Syria Democracy Transition Act of 2012 - States that is U.S. policy to: (1) condemn the systemic violations of human rights conducted by the Syrian authorities, and (2) assure the departure from power of President Assad and his family and facilitate a peaceful transition to a democratic and inclusive government in Syria.
 
Directs the President to: (1) prohibit the opening or maintaining in the United States of a correspondent or payable-through account by a foreign financial institution that has knowingly conducted any financial transaction with the Central Bank of Syria, and (2) freeze and prohibit all property and property interest transactions of such institution if the property and property interests are in the United States or come within the possession or control of a U.S. person. 
 
Exempts from such sanctions sales of food, medicine, or medical devices to Syria.
 
Applies such provisions to certain financial transactions and financial transactions for petroleum or petroleum product purchases through the Bank. 
 
Directs the President to apply specified sanctions against a person knowingly providing specified refining, shipping, or financing services regarding the exportation of petroleum, oil, or liquefied natural gas for refining or processing outside of Syria if: (1) the government of Syria was involved in the development, extraction, production, transportation, or sale of such petroleum, oil, or liquefied natural gas in Syria; and (2) the fair market value of such petroleum, oil, or liquefied natural gas is $1 million or more, or during a 12-month period the aggregate fair market value of such petroleum, oil, or liquefied natural gas is $5 million or more. Exempts certain underwriters and insurance providers from such provisions.
 
Prohibits a vessel from knowingly landing at any seaport in the United States to load or unload cargo or engage in the trade of goods or services if the vessel entered a port in Syria during the 180-day period preceding arrival of the vessel at the U.S. seaport. Provides for enhanced vessel inspections.
 
Directs the President to use U.S. influence to urge the U.N. Security Council to: (1) freeze the assets of, and impose a travel ban on, all officials within President Assad's regime and all family members of Mr. Assad; (2) ban passenger flights to and from Syria; and (3) restrict the shipment and insurance of goods to or from Syria. 
 
Directs the President to report to Congress on Syrian opposition groups and Syrian government weapons stockpiles.
 
Terminates sanctions upon a certification by the President to Congress that President Assad has been removed from power, a democratic transitional government is in place, and Syria has ended support for terrorist groups.
 
Authorizes the President, upon such certification, to establish a Syrian Stabilization Fund. 
 
Authorizes the President to designate a private, nonprofit Syrian-American Enterprise Fund.
 
Directs the President to expand the role of the Department of State's Special Coordinator for Middle East Transitions to assist in coordinating transition efforts in Syria.
 
Directs the U.S. Trade Representative (USTR), after such certification, to review Syria's eligibility for designation as a beneficiary developing country. 
 
Expresses the sense of Congress that the USTR, after such certification, should initiate negotiations for a U.S.-Syria trade and investment agreement.


Legislative actions:
action_date: 2012-03-07
text: Referred to the Committee on Foreign Relations.
action_date: 2012-03-07
text: Senate Committee on Finance discharged by Unanimous Consent.
action_date: 2012-03-07
text: Senate Committee on Finance discharged by Unanimous Consent.
action_date: 2012-03-02
text: Read twice and referred to the Committee on Finance.
action_date: 2012-03-02
text: Introduced in Senate