S. 1428 · 109th Congress
Stop Business With Terrorists Act of 2005
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LautenbergSponsor3 cosponsors · 3 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Stop Business With Terrorists Act of 2005 - States that, in the case of a person subject to the jurisdiction of the United States that is prohibited from engaging in a transaction with a foreign person, such prohibition shall also apply to: (1) each subsidiary or affiliate of the person so prohibited; and (2) any other entity that is controlled in fact by…
What it does: CRS summary · Introduced in Senate · Jul 20, 2005
Stop Business With Terrorists Act of 2005 - States that, in the case of a person subject to the jurisdiction of the United States that is prohibited from engaging in a transaction with a foreign person, such prohibition shall also apply to: (1) each subsidiary or affiliate of the person so prohibited; and (2) any other entity that is controlled in fact by that person. Prohibits such a person from controlling in fact any foreign person who is engaged in such a transaction whether or not the foreign person is subject to the jurisdiction of the United States. Defines as a person subject to the jurisdiction of the United States: (1) a citizen or resident of the United States; (2) a person actually within the United States; (3) a corporation, partnership, or other organization or entity organized under the laws of the United States or any state, territory, or possession thereof; (4) a corporation, partnership, or other organization owned or controlled in fact by a person or entity described in (1) or (3).
Makes the prohibition applicable in any case in which: (1) the President takes action under the International Emergency Economic Powers Act or the Trading With the Enemy Act to prohibit a person subject to the jurisdiction of the United States from engaging in a transaction with a foreign person; or (2) the Secretary of State has determined that the government of a country that has jurisdiction over a foreign person has repeatedly provided support for acts of international terrorism. Allows a subject person 90 days to divest or terminate the prohibited business with the foreign person. Requires the President to publish a list of foreign persons under sanction.
Requires the Director of the Office of Foreign Assets Control to notify Congress if any sanction is imposed by such Office as a result of an investigation.
Expresses the sense of Congress that investors and the public should be informed of activities engaged in by a person that may threaten the national security, foreign policy, or economy of the United States.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Business With Terrorists Act of 2005
Latest action (Jul 20, 2005): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 20, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.