H.R. 4179 (112th): Iran Financial Sanctions Improvement Act of 2012

Introduced:
Mar 08, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Brad Sherman
Representative for California's 27th congressional district
Party
Democrat
Text
Read Text »
Last Updated
Mar 08, 2012
Length
18 pages
 
Status

This bill was introduced on March 8, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 08, 2012
Referred to Committee Mar 08, 2012
 
Full Title

To strengthen the multilateral sanctions regime with respect to Iran, to expand sanctions relating to the energy sector of Iran, the proliferation of weapons of mass destruction by Iran, and human rights abuses in Iran, and for other purposes.

Summary

No summaries available.

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

Widget

Get a bill status widget for your website »

Citation

Click a format for a citation suggestion:

Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


3/8/2012--Introduced.
Iran Financial Sanctions Improvement Act of 2012 - Directs the Comptroller General to submit to Congress a list of all known entities that provide services to, or facilitate service access for, the Central Bank of Iran or any Iranian financial institution.
Directs the Secretary of the Treasury to report to Congress on efforts to ensure that the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Clearstream, and other similar entities have terminated the provision of services to, and the facilitation of service access for, the Central Bank of Iran and other Iranian financial institutions.
Authorizes the President to impose specified sanctions on an entity that has not terminated any such relationship.
Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to require each foreign financial institution that maintains a U.S. correspondent account or a payable-through account to report to the Secretary of the Treasury regarding any financial dealings with an Iranian financial institution during the preceding 180 days. Directs the Secretary to make such reports public.
Amends the National Defense Authorization Act for Fiscal Year 2012 to include as a sanctionable activity the maintenance of funds or accounts for, or on behalf of, the Central Bank of Iran or another Iranian financial institution.
Applies specified sanctions with respect to a foreign financial institution owned or controlled by the government of a foreign country (including a central bank of a foreign country) to the same extent and in the same manner as such sanctions apply to other foreign financial institutions.
Directs the President to impose specified sanctions against a person that knowingly provided underwriting services or reinsurance: (1) for any activity regarding Iran for which sanctions have been imposed, or (2) to or for any person on which sanctions have been imposed for engaging in an activity with respect to Iran or any person designated for the imposition of sanctions in connection with Iran's proliferation of weapons of mass destruction or support for international terrorism.
Includes among such sanctions export and procurement sanctions, and visa, property, banking, loan, and foreign exchange prohibitions.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

Use the comment space below for discussion of the merits of H.R. 4179 (112th) with other GovTrack users.
Your comments are not read by Congressional staff.

comments powered by Disqus