Stop U.S. Support for State Sponsors of Terrorism Act

Bill: 114-hr-5729
Sponsor: full_name: Rep. Pittenger, Robert [R-NC-9]
Introduced: 2016-07-12
Policy area: Finance and Financial Sector
Subjects: Aviation and airports

Competitiveness, trade promotion, trade deficits

Congressional oversight

Fraud offenses and financial crimes

Iran

Licensing and registrations

Middle East

Terrorism

Trade restrictions
Latest action: action_date: 2016-12-12
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 114-866, Part I.

Summaries:
action_date: 2016-07-12
action_desc: Introduced in House
text: <p>This bill prohibits the Department of the Treasury from issuing a license for the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.</p> <p>Treasury shall submit an annual report to Congress:</p> <ul> <li>stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft or aircraft spare parts to Iran by a non-U.S. manufacturer, and whether any such involvement is with respect to such aircraft or spare parts comprising 10% or more U.S. content; and</li> <li>containing a description of the risks related to repayment, money laundering, and the financing of terrorism faced by U.S. financial institutions that are involved in such transactions.</li> </ul> <p>The Export-Import Bank shall report annually to Congress on the use of Bank assistance for such transactions.</p>

action_date: 2016-12-12
action_desc: Reported to House amended, Part I
text: <p><b>Stop U.S. Support for State Sponsors of Terrorism Act</b></p> <p>(Sec. 2) This bill prohibits the Department of the Treasury from issuing a license for the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.</p> <p>(Sec. 3) Treasury shall submit an annual report to Congress:</p> <UL> <LI>stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft or aircraft spare parts to Iran by a non-U.S. manufacturer, and whether any such involvement is with respect to such aircraft or spare parts comprising 10% or more U.S. content; and <LI>containing a description of the risks related to repayment, money laundering, and the financing of terrorism faced by U.S. financial institutions that are involved in such transactions. </LI> </UL> <p>(Sec. 4) The Export-Import Bank shall report annually to Congress on the use of Bank assistance for such transactions.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5729 IN THE HOUSE OF REPRESENTATIVES July 12, 2016 Mr. Pittenger introduced the following bill; which was referred to the Committee on Foreign Affairs , and in addition to the Committee on Financial Services , 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 A BILL To prohibit the Secretary of the Treasury from issuing certain licenses in connection with the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran, to require annual reports by the Secretary of the Treasury and the Export-Import Bank on financing issues related to the sale or lease of such a commercial passenger aircraft or spare parts for such an aircraft, and for other purposes.

1. Export prohibition The Secretary of the Treasury may not issue a license for the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran. 2. Treasury report on financing The Secretary of the Treasury shall issue an annual report to the Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate— (1) stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft or spare parts for such aircraft to the Islamic Republic of Iran by a non-U.S. manufacturer, and whether any such involvement is with respect to a commercial passenger aircraft or spare parts comprising 10 percent or more U.S. content; and (2) containing a description of the risks related to repayment, money laundering, and the financing of terrorism faced by U.S. financial institutions if they were to be involved in the sale or lease of a commercial passenger aircraft to the Islamic Republic of Iran. 3. Export-Import Bank report The Export-Import Bank shall issue an annual report to the Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate on the Bank’s assistance for exports that may be used in connection with the sale or lease of passenger aircraft and spare parts for such aircraft to the Islamic Republic of Iran by a non-U.S. manufacturer, and whether any such assistance for exports may be used in connection with a commercial passenger aircraft or spare parts comprising 10 percent or more U.S. content