US Congress House Bill 3439 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on November 16 2011 - 25% progression, died in committee
Action: 2012-02-03 - Referred to the Subcommittee on Terrorism, Nonproliferation, and Trade.
Pending: House Subcommittee on Terrorism, Nonproliferation, and Trade Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to direct the President to determine, and report to Congress, whether the Central Bank of Iran has assisted: (1) Iran's development of chemical, biological, nuclear, or ballistic weapons; (2) Iran's Revolutionary Guard Corps (IRGC); or (3) a financial institution whose property or property interests are subject to sanctions in connection with Iran's proliferation of weapons of mass destruction or support for international terrorism. Directs the President, if the Bank has engaged in any of such acts, to: (1) prohibit the opening or maintaining in the United States of a correspondent or payable-through account by a foreign financial institution that has knowingly conducted any financial transaction with the Bank; and (2) freeze and prohibit all property and property interest transactions of such institution if the property and property interests are in the United States, come within the United States, or come within the possession or control of a U.S. person. Applies such provisions to: (1) financial transactions begun on or after the date of the enactment of this Act, and (2) financial transactions for petroleum or petroleum product purchases through the Bank begun 180 days or more after the date of the enactment of this Act.

To require the President to impose sanctions on foreign financial institutions that conduct transactions with the Central Bank of Iran if the President determines that the Central Bank of Iran has engaged in certain transactions relating to the proliferation of chemical, biological, or nuclear weapons or support for acts of international terrorism.

Sen. Jeff Flake [R-AZ]

Rep. Mike McIntyre [D-NC]

Date	Chamber	Action
2012-02-03	House	Referred to the Subcommittee on Terrorism, Nonproliferation, and Trade.
2012-02-03	House	Referred to the Subcommittee on Middle East and South Asia .
2012-01-12	House	Referred to the Subcommittee on International Monetary Policy and Trade.
2011-11-16	House	Referred to House Foreign Affairs
2011-11-16	House	Referred to House Financial Services
2011-11-16	House	Referred to the House Committee on Financial Services.

HB3508 (Related) 2012-01-12 - Referred to the Subcommittee on International Monetary Policy and Trade.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/3439/all-info
Text	https://www.congress.gov/112/bills/hr3439/BILLS-112hr3439ih.pdf