S. 1430 (110th): Iran Sanctions Enabling Act

Introduced:
May 17, 2007 (110th Congress, 2007–2009)
Sponsor:
Sen. Barack Obama [D-IL]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on May 17, 2007, in a previous session of Congress, but was not enacted.

Progress
Introduced May 17, 2007
Referred to Committee May 17, 2007
Cosponsors
37 cosponsors (23D, 13R, 1I) (show)
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to authorize State and local governments to direct divestiture from, and prevent investment in, companies with investments of $20,000,000 or more in Iran's energy sector, and for other purposes.

Summary

No summaries available.

Text

Read Bill Text »

Last updated May 17, 2007.
13 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/17/2007--Introduced.
Iran Sanctions Enabling Act of 2007 - Directs the Secretary of the Treasury to:
(1) publish biannually in the Federal Register a list of each person, whether within or outside of the United States, that has an investment of more than $20 million in the energy sector in Iran; and
(2) maintain on the website of the Department of the Treasury the names of the persons on such list.
States it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in, persons included on the most recent list.
Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit investment of assets in, persons included on the most recent list.
Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, securities issued by companies included on such most recent list.
Amends the Employee Retirement Income Security Act of 1974 to shield from treatment as breaching a fiduciary duty any person divesting plan assets from, or avoiding investing plan assets in, persons included on such most recent list.
Expresses the sense of the Congress that the Federal Retirement Thrift Investment Board should:
(1) initiate efforts to provide a terror-free international investment option among the funds of the Thrift Savings Fund; and
(2) initiate similar efforts to provide a genocide-free international investment option.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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