Iran's Revolutionary Guard Corps Sanctions Implementation and Review Act

Bill: 114-hr-4312
Sponsor: Rep. Sherman, Brad [D-CA-30]
Introduced: 2015-12-18 in the House
Policy area: International Affairs
Subjects: Congressional oversight
Foreign property
Government information and archives
Government studies and investigations
Iran
Licensing and registrations
Middle East
Presidents and presidential powers, Vice Presidents
Sanctions
Securities
Trade restrictions

Summary:
action_date: 2015-12-18
text: 

Iran's Revolutionary Guard Corps Sanctions Implementation and Review Act

 
This bill amends the Iran Threat Reduction and Syrian Human Rights Act of 2012 to require the President to block and prohibit all transactions in property and property interests of a foreign person that knowingly supports or conducts certain transactions with Iran's Revolutionary Guard Corps (IRGC) or other sanctioned persons if that property and those property interests are in the United States, come within the United States, or are or come within the possession or control of a U.S. person.
 
The President may issue licenses to U.S. persons to engage in such property transactions with an otherwise blocked foreign person. 
 
The Government Accountability Office (GAO) shall report annually to the President and Congress on all foreign persons not currently subject to such sanctions that, within the preceding three years, have been reported to have conducted transactions or have provided material support to the IRGC or any of its agents or affiliates. 
 
 The President shall: 
 
 
review an identified foreign person to determine whether there is sufficient evidence to impose sanctions; and 
 
if so, include that person on the list of specially designated nationals and blocked persons maintained by the Office of Foreign Assets Control of the Department of the Treasury and impose sanctions. 
 
 
The Securities Exchange Act of 1934 is amended to require securities issuers to report to the Securities and Exchange Commission any financial transactions with a foreign person identified in the most recent GAO report before the commencement of the transaction or dealing.


Legislative actions:
action_date: 2015-12-18
text: Referred to the Subcommittee on Trade.
action_date: 2015-12-18
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Oversight and Government Reform, and the Judiciary, 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: 2015-12-18
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Oversight and Government Reform, and the Judiciary, 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: 2015-12-18
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Oversight and Government Reform, and the Judiciary, 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: 2015-12-18
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Oversight and Government Reform, and the Judiciary, 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: 2015-12-18
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Oversight and Government Reform, and the Judiciary, 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: 2015-12-18
text: Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Oversight and Government Reform, and the Judiciary, 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: 2015-12-18
text: Introduced in House
action_date: 2015-12-18
text: Introduced in House