No Ex-Im Assistance for Terrorism Act

Bill: 114-hr-5715
Sponsor: full_name: Rep. Roskam, Peter J. [R-IL-6]
Introduced: 2016-07-11
Policy area: Foreign Trade and International Finance
Subjects: Aviation and airports

Competitiveness, trade promotion, trade deficits

Government lending and loan guarantees

Iran

Middle East

Trade restrictions
Latest action: action_date: 2016-11-14
text: Placed on the Union Calendar, Calendar No. 642.

Summaries:
action_date: 2016-07-11
action_desc: Introduced in House
text: <p><b>No Ex-Im Assistance for Terrorism Act</b></p> <p>This bill amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, extending credit, or participating in the extension of credit in connection with the export of U.S. goods or services sought by:</p> <ul> <li> the Government of Iran, an entity owned or controlled by it, or an entity created under Iranian law;</li> <li> an entity involving the Government of Iran, owned or controlled by the Government of Iran, or created under Iranian law; or</li> <li> a non-U.S. entity that, in the last five-years, has leased or re-exported aircraft to the Government of Iran. </li></ul>

action_date: 2016-11-14
action_desc: Reported to House with amendment(s)
text: <p><b>No Ex-Im Assistance for Terrorism Act</b></p> <p>(Sec. 2) This bill amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, extending credit, or participating in the extension of credit in connection with the export of U.S. goods or services sought by:</p> <ul> <li>the Government of Iran, an entity owned or controlled by it, an entity created under Iranian law, or a foreign subsidiary of such an entity; <li>an entity involving the Government of Iran, owned or controlled by the Government of Iran, created under Iranian law, or a foreign subsidiary of such an entity; or <li>a non-U.S. entity that, in the last five-years, has leased or sold aircraft to the Government of Iran, or a subsidiary or controlling parent of such a non-U.S. entity. </li> </ul> <p>The Bank must cancel approved financing if it finds that such financing has facilitated the export, sale, or lease of an aircraft to the Government of Iran or a related entity and must seek immediate recovery of any amount it has provided in connection with the transaction. </p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5715 IN THE HOUSE OF REPRESENTATIVES July 11, 2016 Mr. Roskam (for himself and Mr. Sherman ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit the Export-Import Bank of the United States from providing financing that would benefit Iran.

1. Short title This Act may be cited as the No Ex-Im Assistance for Terrorism Act . 2. Prohibition on Export-Import Bank financing that would benefit Iran Section 2(b) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635(b) ) is amended by adding at the end the following: (14) Prohibition on financing that would benefit Iran (A) Direct financing The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph by— (i) the Government of Iran or an entity owned or controlled by the Government of Iran; or (ii) an entity created under Iranian law. (B) Indirect financing The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph involving— (i) an entity for the purpose of a transaction involving the Government of Iran or an entity referred to in subparagraph (A); or (ii) a non-United States entity that, in the 5-year period ending with the date of the enactment of this paragraph, has leased or re-exported aircraft to the Government of Iran or an entity referred to in subparagraph (A) in contravention of United States law. (C) Cancellation of approved financing The Bank shall cease the provision of financial assistance approved by the Bank in connection with a transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph, on finding that the assistance has facilitated the export or re-export of an aircraft to Iran, and shall seek immediate recovery of any amount provided by the Bank in connection with the transaction. .

tv_txt: IB Union Calendar No. 642 114th CONGRESS 2d Session H. R. 5715 [Report No. 114–819] IN THE HOUSE OF REPRESENTATIVES July 11, 2016 Mr. Roskam (for himself and Mr. Sherman ) introduced the following bill; which was referred to the Committee on Financial Services November 14, 2016 Additional sponsors: Mr. Pompeo , Mr. King of New York , Mr. Tiberi , Mr. Holding , Mr. DesJarlais , Mr. Diaz-Balart , Mr. Kelly of Pennsylvania , Mr. Schweikert , and Mr. Zeldin November 14, 2016 Reported with amendments, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Omit the part struck through and insert the part printed in italic A BILL To prohibit the Export-Import Bank of the United States from providing financing that would benefit Iran.

1. Short title This Act may be cited as the No Ex-Im Assistance for Terrorism Act . 2. Prohibition on Export-Import Bank financing that would benefit Iran Section 2(b) of the Export-Import Bank Act of 1945 ( 12 U.S.C. 635(b) ) is amended by adding at the end the following: (14) Prohibition on financing that would benefit Iran (A) Direct financing The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph by— (i) the Government of Iran or an entity owned or controlled by the Government of Iran; or (ii) an entity created under Iranian law , or a foreign subsidiary of such an entity . (B) Indirect financing The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph involving— (i) an entity for the purpose of a transaction involving the Government of Iran or an entity referred to in subparagraph (A); or (ii) a non-United States entity that, in the 5-year period ending with the date of the enactment of this paragraph, has leased or re-exported sold aircraft to the Government of Iran or an entity referred to in subparagraph (A) in contravention of United States law , or a subsidiary or controlling parent of such a non-United States entity . (C) Cancellation of approved financing The Bank shall cease the provision of financial assistance approved by the Bank in connection with a transaction with respect to which credit assistance from the Bank is first sought approved after the effective date of this paragraph, on finding that the assistance has facilitated the export or re-export export, sale, or lease of an aircraft to Iran an entity referred to in subparagraph (A) , and shall seek immediate recovery of any amount provided by the Bank in connection with the transaction. .

November 14, 2016 Reported with amendments, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed