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S. 1612 (110th): International Emergency Economic Powers Enhancement Act

The text of the bill below is as of Oct 4, 2007 (Passed Congress).


S.1612

One Hundred Tenth Congress

of the

United States of America

AT THE FIRST SESSION

Begun and held at the City of Washington on Thursday,

the fourth day of January, two thousand and seven

An Act

To amend the penalty provisions in the International Emergency Economic Powers Act, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the `International Emergency Economic Powers Enhancement Act'.

SEC. 2. INCREASED PENALTIES FOR VIOLATIONS OF IEEPA.

    (a) In General- Section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) is amended to read as follows:

`SEC. 206. PENALTIES.

    `(a) Unlawful Acts- It shall be unlawful for a person to violate, attempt to violate, conspire to violate, or cause a violation of any license, order, regulation, or prohibition issued under this title.

    `(b) Civil Penalty- A civil penalty may be imposed on any person who commits an unlawful act described in subsection (a) in an amount not to exceed the greater of--

      `(1) $250,000; or

      `(2) an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed.

    `(c) Criminal Penalty- A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of, an unlawful act described in subsection (a) shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.'.

    (b) Effective Date-

      (1) CIVIL PENALTIES- Section 206(b) of the International Emergency Economic Powers Act, as amended by subsection (a), shall apply to violations described in section 206(a) of such Act with respect to which enforcement action is pending or commenced on or after the date of the enactment of this Act.

      (2) CRIMINAL PENALTIES- Section 206(c) of the International Emergency Economic Powers Act, as amended by subsection (a), shall apply to violations described in section 206(a) of such Act with respect to which enforcement action is commenced on or after the date of the enactment of this Act.

Speaker of the House of Representatives.

Vice President of the United States and

President of the Senate.