Iranian Leadership Asset Transparency Act

Bill: 115-hr-1638
Sponsor: Rep. Poliquin, Bruce [R-ME-2]
Introduced: 2017-03-20 in the House
Policy area: International Affairs
Subjects: Arms control and nonproliferation
Bank accounts, deposits, capital
Congressional oversight
Criminal investigation, prosecution, interrogation
Diplomacy, foreign officials, Americans abroad
Foreign and international banking
Foreign property
Fraud offenses and financial crimes
Government information and archives
Iran
Middle East
Nuclear weapons
Sanctions

Summary:
action_date: 2017-03-20
text: 

Iranian Leadership Asset Transparency Act

 
This bill requires the Department of the Treasury, in furtherance of efforts to prevent the financing of terrorism, money laundering, or related illicit finance and to make financial institutions' required compliance with remaining sanctions more easily understood, to submit within 270 days and annually thereafter for the next two years a report regarding: 
 
 
the funds or assets held in U.S. and foreign financial institutions that are directly or indirectly controlled by specified Iranian officials; 
 
any equity stake such official has in an entity on Treasury's list of Specially Designated Nationals or in any other sanctioned entity; 
 
how such funds, assets, or equity interests were acquired and used; 
 
new methods used to evade anti-money laundering and related laws, including recommendations to improve techniques to combat illicit uses of the U.S. financial system by each such official;
 
 recommendations for revising U.S. economic sanctions against Iran to prevent Iranian officials from using funds or assets to develop and procure ballistic missile technology; 
 
 how Treasury assesses the effectiveness of U.S. economic sanctions against Iran; and
 
 recommendations for improving Treasury's ability to develop and enforce additional economic sanctions against Iran if so ordered by the President. 
 
 
The unclassified portion of the report shall be made available to the public and posted on Treasury's website in downloadable English, Farsi, Arabic, and Azeri versions.

action_date: 2017-12-13
text: 

Iranian Leadership Asset Transparency Act

 
 (Sec. 3) This bill requires the Department of the Treasury, in furtherance of efforts to prevent terrorism financing, money laundering, or illicit finance and to make financial institutions' sanctions compliance more easily understood, to report to Congress within 270 days and annually thereafter for the next two years regarding: 
 
 
the funds or assets held in U.S. and foreign financial institutions that are controlled by specified Iranian officials; 
 
any equity stake such official has in an entity on Treasury's list of Specially Designated Nationals or in any other sanctioned entity; 
 
how such funds, assets, or equity interests were acquired and used; 
 
new methods used to evade anti-money laundering and related laws, including recommendations to improve techniques to combat illicit uses of the U.S. financial system by each such official;
 
 recommendations for revising U.S. economic sanctions against Iran to prevent Iranian officials from using funds or assets to develop and procure ballistic missile technology; 
 
 how Treasury assesses the effectiveness of U.S. economic sanctions against Iran; and
 
 recommendations for improving Treasury's ability to develop and enforce additional economic sanctions against Iran.
 
 
The unclassified portion of the report shall be made available to the public and posted on Treasury's website in downloadable English, Farsi, Arabic, and Azeri versions.
 
 (Sec. 4) It is the sense of Congress that in preparing the reports pursuant to this bill Treasury should consider acquiring information from sources that: (1) collect high-veracity official records; or (2) provide search and analysis tools that enable law enforcement to have new insights into commercial and financial relationships. 


Legislative actions:
action_date: 2017-12-14
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2017-12-13
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2017-12-13
text: On passage Passed by the Yeas and Nays: 289 - 135 (Roll no. 680).
action_date: 2017-12-13
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 289 - 135 (Roll no. 680).
action_date: 2017-12-13
text: Considered as unfinished business. (consideration: CR H9879-9880)
action_date: 2017-12-13
text: POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 1638, the Chair put the question on passage and by voice vote announced that the ayes had prevailed. Mr. Hensarling demanded the yeas and nays, and the Chair postponed further proceedings on the question of passage until later in the legislative day.
action_date: 2017-12-13
text: The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text of amendment in the nature of a substitute: CR H9875-9876)
action_date: 2017-12-13
text: The previous question was ordered pursuant to the rule.
action_date: 2017-12-13
text: The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1638.
action_date: 2017-12-13
text: DEBATE - Pursuant to the provisions of H. Res. 658, the Committee of the Whole proceeded with 10 minutes of debate on the Meng Part A amendment No. 2.
action_date: 2017-12-13
text: DEBATE - Pursuant to the provisions of H. Res. 658, the Committee of the Whole proceeded with 10 minutes of debate on the Schneider Part A amendment No. 1.
action_date: 2017-12-13
text: GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1638.
action_date: 2017-12-13
text: House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 658 and Rule XVIII.
action_date: 2017-12-13
text: The Speaker designated the Honorable Paul Mitchell to act as Chairman of the Committee.
action_date: 2017-12-13
text: Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate on each bill. It also makes in order specified amendments for the bills.
action_date: 2017-12-13
text: Considered under the provisions of rule H. Res. 658. (consideration: CR H9868-9878)
action_date: 2017-12-12
text: Rules Committee Resolution H. Res. 658 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate on each bill. It also makes in order specified amendments for the bills.
action_date: 2017-12-07
text: Placed on the Union Calendar, Calendar No. 335.
action_date: 2017-12-07
text: Committee on Foreign Affairs discharged.
action_date: 2017-12-07
text: Committee on Foreign Affairs discharged.
action_date: 2017-12-07
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-453, Part I.
action_date: 2017-12-07
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 115-453, Part I.
action_date: 2017-11-14
text: Ordered to be Reported (Amended) by the Yeas and Nays: 43 - 16.
action_date: 2017-11-14
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-05-18
text: Referred to the Subcommittee on Middle East and North Africa.
action_date: 2017-03-20
text: Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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: 2017-03-20
text: Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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: 2017-03-20
text: Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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: 2017-03-20
text: Introduced in House
action_date: 2017-03-20
text: Introduced in House