S. 2752 · 114th Congress
Preventing Iran's Access to United States Dollars Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RubioSponsor7 cosponsors · 7 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Preventing Iran's Access to United States Dollars Act of 2016
What it does: CRS summary · Introduced in Senate · Apr 6, 2016
Preventing Iran's Access to United States Dollars Act of 2016
This bill prohibits the President from issuing a license that permits a person to:
- conduct an offshore U.S. dollar clearing system for transactions involving the government of Iran or an Iranian person, or
- provide U.S. dollars for any offshore U.S. dollar clearing system conducted by a foreign government or a foreign financial institution for transactions involving the government of Iran or an Iranian person.
The Department of the Treasury shall report to Congress:
- a list of financial institutions operating or participating in an offshore U.S. dollar clearing system that conducts transactions involving the government of Iran or an Iranian person, and
- an assessment of Treasury efforts to prevent such transactions.
The President shall block and prohibit all transactions in property and property interests of any listed institution if the property and interests: (1) are in the United States, (2) come within the United States, or (3) are or come within the possession or control of a U.S. person. The President may impose additional sanctions pursuant to the International Emergency Economic Powers Act.
The National Defense Authorization Act for Fiscal Year 2012 is amended to subject to sanctions: (1) u-turn transactions (fund transfers from a foreign bank that pass through a U.S. financial institution and are then transferred to a second foreign bank), and (2) book transfers (fund transfers for the benefit of an Iranian financial institution made between accounts of the same financial institution).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Preventing Iran's Access to United States Dollars Act of 2016
Latest action (Apr 6, 2016): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: International Affairs · Origin: Senate · Introduced: Apr 6, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.