skip to main content

H.R. 5715 (114th): No Ex-Im Assistance for Terrorism Act


The text of the bill below is as of Nov 14, 2016 (Reported by House Committee). The bill was not enacted into law.


IB

Union Calendar No. 642

114th CONGRESS

2d Session

H. R. 5715

[Report No. 114–819]

IN THE HOUSE OF REPRESENTATIVES

July 11, 2016

(for himself and Mr. Sherman) introduced the following bill; which was referred to the Committee on Financial Services

November 14, 2016

Additional sponsors: Mr. Pompeo, Mr. King of New York, Mr. Tiberi, Mr. Holding, Mr. DesJarlais, Mr. Diaz-Balart, Mr. Kelly of Pennsylvania, Mr. Schweikert, and Mr. Zeldin

November 14, 2016

Reported with amendments, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Omit the part struck through and insert the part printed in italic


A BILL

To prohibit the Export-Import Bank of the United States from providing financing that would benefit Iran.


1.

Short title

This Act may be cited as the No Ex-Im Assistance for Terrorism Act.

2.

Prohibition on Export-Import Bank financing that would benefit 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 financing that would benefit Iran

(A)

Direct financing

The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph by—

(i)

the Government of Iran or an entity owned or controlled by the Government of Iran; or

(ii)

an entity created under Iranian law, or a foreign subsidiary of such an entity.

(B)

Indirect financing

The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph involving—

(i)

an entity for the purpose of a transaction involving the Government of Iran or an entity referred to in subparagraph (A); or

(ii)

a non-United States entity that, in the 5-year period ending with the date of the enactment of this paragraph, has leased or re-exported sold aircraft to the Government of Iran or an entity referred to in subparagraph (A) in contravention of United States law, or a subsidiary or controlling parent of such a non-United States entity.

(C)

Cancellation of approved financing

The Bank shall cease the provision of financial assistance approved by the Bank in connection with a transaction with respect to which credit assistance from the Bank is first sought approved after the effective date of this paragraph, on finding that the assistance has facilitated the export or re-export export, sale, or lease of an aircraft to Iran an entity referred to in subparagraph (A), and shall seek immediate recovery of any amount provided by the Bank in connection with the transaction.

.

November 14, 2016

Reported with amendments, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed