No Ex-Im Financing for Iran Act

Bill: 114-s-3138
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2016-07-07
Policy area: Foreign Trade and International Finance
Subjects: Competitiveness, trade promotion, trade deficits

Government lending and loan guarantees

Iran

Middle East
Latest action: action_date: 2016-07-07
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2016-07-07
action_desc: Introduced in Senate
text: <p><b>No Ex-Im Financing for Iran 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 to any entity that does business with or provides credit or a guarantee to any other entity in connection with exports involving:</p> <ul> <li>the Government of Iran, or an entity in which the Government of Iran participates,</li> <li>an entity created under Iranian law, or</li> <li>an operation in Iran.</li> </ul>

tv_txt: II 114th CONGRESS 2d Session S. 3138 IN THE SENATE OF THE UNITED STATES July 7, 2016 Mr. Rubio (for himself, Mr. Cotton , Mr. Cornyn , and Mr. Cruz ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To prevent Iran from directly or indirectly receiving assistance from the Export-Import Bank of the United States.

1. Short title This Act may be cited as the No Ex-Im Financing for Iran Act . 2. Prohibition on assistance benefitting 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 assistance benefitting Iran The Bank may not guarantee, insure, or extend (participate in the extension of) credit in connection with a transaction, with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph, involving any entity that does business with, or provides credit or a guarantee to any other entity in connection with a transaction involving— (A) the Government of Iran, or an entity in which the Government of Iran participates; (B) an entity that is created under Iran law; or (C) an operation in Iran. .