H.R. 3516 · 111th Congress
Enable Divestment from Sudan and Iran Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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ShermanSponsor20 cosponsors · 14 D, 6 R
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Adler
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Burton
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Berkley
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Cohen
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Engel
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Green
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Grayson
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Hastings
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Holt
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Hall
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Kirk
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Klein
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Jo Kilroy
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LoBiondo
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Nadler
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Ros-Lehtinen
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Thompson
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Weiner
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McCotter
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Franks18 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Enable Divestment from Sudan and Iran Act of 2009 - Amends the Internal Revenue Code to promote the divestment of investments in Iran or the Sudan by permitting the deferral of tax on gain from the sale of securities in any business that is engaged in certain discouraged activities in Iran or the Sudan if the holder of such securities purchases replacement…
What it does: CRS summary · Introduced in House · Jul 31, 2009
Enable Divestment from Sudan and Iran Act of 2009 - Amends the Internal Revenue Code to promote the divestment of investments in Iran or the Sudan by permitting the deferral of tax on gain from the sale of securities in any business that is engaged in certain discouraged activities in Iran or the Sudan if the holder of such securities purchases replacement securities from a business not engaged in such discouraged activities.
Includes as discouraged activities in Iran: (1) investment of $20 million or more in the energy sector of Iran (i.e., petroleum, natural gas, or nuclear power) or in a person who provides Iran with oil or liquefied natural gas tankers or pipelines; (2) an extension of credit of $20 million or more to a person who invests in the energy sector of Iran; (3) investment that enhances Iran's ability to develop petroleum resources; (4) the sale of goods, services, technology, information, or support to Iran that allows it to maintain or expand its petroleum industry; or (5) providing Iran with refined petroleum resources.
Defines "Sudan discouraged activity" as an investment in any business operation described in the Sudan Accountability and Divestment Act of 2007 (e.g., businesses engaged in power production activities, mineral extraction activities, oil-related activities, or the production of military equipment).
Includes as an Iran or Sudan discouraged activity business transactions with or charitable donations to any Iranian or Sudanese person designated as a terrorist or to any foreign terrorist organization.
Requires the Secretary of the Treasury to publish and update every six months a list of business entities engaging in any Sudan or Iran discouraged activities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Enable Divestment from Sudan and Iran Act of 2009
Latest action (Jul 31, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 31, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.