S. 2757 · 114th Congress
Iran Financial System Access Limitation 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
SullivanSponsorNo cosponsors.
This bill expresses the sense of Congress that Congress must act to preempt any move to grant licenses resulting in Iran's access to the U.S. dollar.
What it does: CRS summary · Introduced in Senate · Apr 6, 2016
Iran Financial System Access Limitation Act of 2016
This bill expresses the sense of Congress that Congress must act to preempt any move to grant licenses resulting in Iran's access to the U.S. dollar.
The President may not issue a license to an offshore dollar-clearing entity to conduct a transaction in U.S. dollars with an Iranian financial institution.
A U.S. person may not process (in a U-turn transaction) any transfer of funds to or from Iran, or for the benefit of persons in Iran or the government of Iran, even if the transfer arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction.
The President shall block and prohibit transactions in all property and property interests of any foreign financial institution that serves as an offshore dollar clearing entity to conduct a transaction with an Iranian financial institution in U.S. dollars if such property and property interests are in the United States, come within the United States, or are or come within the possession or control of a U.S. person.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Iran Financial System Access Limitation 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.