118 HR 5921 EH: No U.S. Financing for Iran Act of 2023 U.S. House of Representatives text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

IB 118th CONGRESS2d Session H. R. 5921 IN THE HOUSE OF REPRESENTATIVES AN ACT To prohibit the Secretary of the Treasury from authorizing certain transactions by a United States financial institution in connection with Iran, to prevent the International Monetary Fund from providing financial assistance to Iran, to codify prohibitions on Export-Import Bank financing for the Government of Iran, and for other purposes.

1.

Short title

This Act may be cited as the No U.S. Financing for Iran Act of 2023.

2.

Prohibition on authorizations for United States financial institutions

The Secretary of the Treasury may not authorize a transaction by a U.S. financial institution (as defined in section 561.309 of title 31, Code of Federal Regulations) in connection with the importation from or exportation to the Islamic Republic of Iran of any goods, services, or technology, other than the sale of agricultural commodities, food, medicine, medical devices, or humanitarian assistance benefitting the civilian population of Iran.

3.

Opposition to IMF assistance

The Secretary of the Treasury shall instruct the United States Executive Director at the International Monetary Fund to— (1)oppose the provision of financial assistance by the Fund to the Islamic Republic of Iran, and the allocation to the Government of Iran of Special Drawing Rights; and (2)seek to ensure that member countries of the Fund prohibit the exchange of Special Drawing Rights held by the Government of Iran.

4.

Codification of export-import bank prohibition with respect to Iran

Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)) is amended by adding at the end the following: (14)

Prohibition on financing for Iran

The Bank may not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction, with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph, for which a lender or obligor is the Government of Iran or an entity owned or controlled by the Government of Iran..

5.

Sunset

This Act and the amendment made by this Act are hereby repealed effective on the earliest of— (1)the date that is 30 days after the date the President of the United States certifies to the Congress that the Government of Iran— (A)has ceased providing support for acts of international terrorism; and (B)is not a jurisdiction of primary money laundering concern, as described under section 5318A of title 31, United States Code; or (2)10 years after the date of the enactment of this Act.

Passed the House of Representatives April 15, 2024.Cheryl L. Johnson,Clerk.