S. 892: Iran Sanctions Loophole Elimination Act of 2013

Introduced:
May 08, 2013
Status:
Referred to Committee on May 08, 2013
Prognosis
0% chance of being enacted
Track this bill

This bill was assigned to a congressional committee on May 8, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Introduced
May 08, 2013
Reported by Committee
Passed Senate
Passed House
Signed by the President
 
Sponsor
Mark Kirk
Junior Senator from Illinois
Party
Republican
Text
Read Text »
Last Updated
May 08, 2013
Length
6 pages
 
Full Title

A bill to amend the Iran Threat Reduction and Syria Human Rights Act of 2012 to impose sanctions with respect to certain transactions in foreign currencies, and for other purposes.

Summary

No summaries available.

 
Prognosis

2% chance of getting past committee.
0% chance of being enacted.

Only 11% of bills made it past committee and only about 3% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
31 cosponsors (19R, 12D) (show)
Committees

Senate Banking, Housing, and Urban Affairs

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

 
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.

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Notes

S. stands for Senate 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.


5/8/2013--Introduced.
Iran Sanctions Loophole Elimination Act of 2013 - Amends the Iran Threat Reduction and Syria Human Rights Act of 2012 to direct the President to prohibit the opening, and prohibit or impose strict conditions on the maintaining, in the United States of a correspondent account or a payable-through account by a foreign financial institution that is a person described in this Act.
Describes such person as a person that on or after May 9, 2013, knowingly:
(1) conducted or facilitated a significant transaction involving the currency of a country other than the country in which the person is operating with, for, or on behalf of the Central Bank of Iran or another Iranian financial institution designated by the Secretary of the Treasury for the imposition of sanctions, or a person that is involved in the energy, shipping, and shipbuilding sectors of Iran; or
(2) transferred funds for, or held funds on behalf of, a person described in the previous paragraph in relation to a transaction without regard to the currency of such funds.
Authorizes the President to impose sanctions pursuant to the International Emergency Economic Powers Act with respect to any other person.
Authorizes the President to waive the provisions of this Act with respect to a person for up to 180 days (and authorizes renewal of such waiver for additional periods of up to 180 days) for reasons of U.S. national security. Requires congressional notification at least seven days prior to a waiver or waiver renewal.

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.

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