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 the Secretary of the Treasury to issue an annual report on the status of, and risks related to, U.S. financial institutions involved with the sale or lease of such a commercial passenger aircraft, and for other purposes.

Bill: 114-hr-5716
Sponsor: full_name: Rep. Pittenger, Robert [R-NC-9]
Introduced: 2016-07-11
Policy area: Finance and Financial Sector
Subjects: Aviation and airports

Congressional oversight

Fraud offenses and financial crimes

Iran

Licensing and registrations

Middle East

Terrorism

Trade restrictions
Latest action: action_date: 2016-07-11
text: 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.

Summaries:
action_date: 2016-07-11
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 to Iran by a non-U.S. manufacturer; 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>

tv_txt: I 114th CONGRESS 2d Session H. R. 5716 IN THE HOUSE OF REPRESENTATIVES July 11, 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 the Secretary of the Treasury to issue an annual report on the status of, and risks related to, U.S. financial institutions involved with the sale or lease of such a commercial passenger 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 Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate— (1) stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft to the Islamic Republic of Iran by a non-U.S. manufacturer; 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.