3.0.0 1428 2023-01-13T04:50:25Z 2023-01-13T04:50:25Z Senate S S 2005-07-20 109 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2005-07-20T17:30:35Z 2005-07-20 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2005-07-20 Introduced in Senate IntroReferral 10000 9 Library of Congress L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. N C001042 Sen. Corzine, Jon S. [D-NJ] JON CORZINE D NJ S. 2005-07-20 True C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R 2005-07-20 True F000061 Sen. Feingold, Russell D. [D-WI] RUSSELL FEINGOLD D WI D. 2005-07-20 True Finance and Financial Sector Administrative procedure Affiliated corporations Alien property Aliens American investments Commerce Congress Congress and foreign policy Congressional reporting requirements Corporate divestiture Crime and Law Enforcement Foreign Trade and International Finance Foreign corporations Government Operations and Politics Government publicity Governmental investigations Independent regulatory commissions Information disclosure (Securities law) International Affairs Investments Law Sanctions (International law) Securities and Exchange Commission Securities regulation State-sponsored terrorism Subsidiary corporations Terrorism Trading with the enemy Finance and Financial Sector 00 2005-07-20 Introduced in Senate 2005-09-30T20:09:27Z Stop Business With Terrorists Act of 2005 - States that, in the case of a person subject to the jurisdiction of the United States that is prohibited from engaging in a transaction with a foreign person, such prohibition shall also apply to: (1) each subsidiary or affiliate of the person so prohibited; and (2) any other entity that is controlled in fact by that person. Prohibits such a person from controlling in fact any foreign person who is engaged in such a transaction whether or not the foreign person is subject to the jurisdiction of the United States. Defines as a person subject to the jurisdiction of the United States: (1) a citizen or resident of the United States; (2) a person actually within the United States; (3) a corporation, partnership, or other organization or entity organized under the laws of the United States or any state, territory, or possession thereof; (4) a corporation, partnership, or other organization owned or controlled in fact by a person or entity described in (1) or (3).

Makes the prohibition applicable in any case in which: (1) the President takes action under the International Emergency Economic Powers Act or the Trading With the Enemy Act to prohibit a person subject to the jurisdiction of the United States from engaging in a transaction with a foreign person; or (2) the Secretary of State has determined that the government of a country that has jurisdiction over a foreign person has repeatedly provided support for acts of international terrorism. Allows a subject person 90 days to divest or terminate the prohibited business with the foreign person. Requires the President to publish a list of foreign persons under sanction.

Requires the Director of the Office of Foreign Assets Control to notify Congress if any sanction is imposed by such Office as a result of an investigation.

Expresses the sense of Congress that investors and the public should be informed of activities engaged in by a person that may threaten the national security, foreign policy, or economy of the United States.

]]> Stop Business With Terrorists Act of 2005 Display Title Stop Business With Terrorists Act of 2005 Official Title as Introduced A bill to stop corporations from financing terrorism. Introduced in Senate IS Short Titles as Introduced Stop Business With Terrorists Act of 2005 Introduced in Senate 2005-07-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s1428is/xml/BILLS-109s1428is.xml 2005-07-20 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.