Iran Sanctions Enabling Act of 2009

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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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.

R BrownbackSponsor

39 cosponsors · 23 D, 15 R, 1 I

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Iran Sanctions Enabling Act of 2009 - States that it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in, persons that have investments of $20 million or more in Iran's energy sector.

What it does: CRS summary · Introduced in Senate · May 18, 2009

Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit the investment of assets they control in, such persons, including financial institutions which extend them credit to so invest.

Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, securities issued by such persons.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to shield from treatment as breaching a fiduciary duty any person divesting employee benefit plan assets from, or avoiding investing plan assets in, such persons.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Iran Sanctions Enabling Act of 2009

Latest action (May 18, 2009): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 18, 2009

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.