H.R. 7402 · 117th Congress
No U.S. Financing for Iran Act of 2022
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HuizengaSponsorNo cosponsors.
This bill prohibits certain actions related to exports, imports, and financing with respect to Iran.
What it does: CRS summary · Introduced in House · Apr 5, 2022
No U.S. Financing for Iran Act of 2022
This bill prohibits certain actions related to exports, imports, and financing with respect to Iran.
Specifically, the bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the importation from or exportation to Iran of goods, services, or technology. This prohibition does not apply to the sale of agricultural commodities, food, medicine, or medical devices benefitting the civilian population of Iran.
The bill requires Treasury to instruct U.S. representatives to the International Monetary Fund (IMF) to (1) oppose IMF financial assistance, and the allocation of Special Drawing Rights (SDR), to Iran; and (2) seek to ensure that IMF member countries prohibit the exchange of SDR held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Further, the bill provides statutory authority for the prohibition on Export-Import Bank financing with respect to Iran.
The bill's provisions shall be in effect until the earlier of (1) 30 days after the President certifies to Congress that Iran has ceased providing support for acts of international terrorism and is not a jurisdiction of primary money laundering concern, (2) 30 days after Treasury reports to Congress that termination of the provisions is necessary to comply with treaties ratified by the United States, or (3) 10 years after this bill's enactment.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: No U.S. Financing for Iran Act of 2022
Latest action (Apr 5, 2022): Referred to the House Committee on Financial Services.
Policy area: Foreign Trade and International Finance · Origin: House · Introduced: Apr 5, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.