3.0.0 2752 2023-01-11T13:31:27Z 2023-01-11T13:31:27Z Senate S 2016-04-06 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2016-04-06T17:00:26Z Preventing Iran's Access to United States Dollars Act of 2016 114 4995 HR 2016-04-19 Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Identical bill CRS 2016-04-06 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2016-04-06 Introduced in Senate IntroReferral 10000 9 Library of Congress R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL N K000360 Sen. Kirk, Mark Steven [R-IL] MARK KIRK R IL STEVEN 2016-04-06 True A000368 Sen. Ayotte, Kelly [R-NH] Kelly Ayotte R NH 2016-04-07 False R000307 Sen. Roberts, Pat [R-KS] PAT ROBERTS R KS 2016-04-11 False C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2016-04-12 False P000612 Sen. Perdue, David [R-GA] David Perdue R GA Alfred 2016-04-14 False T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. 2016-05-09 False G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. 2016-05-17 False International Affairs Bank accounts, deposits, capital Congressional oversight Currency Foreign and international banking Foreign property Iran Licensing and registrations Middle East Presidents and presidential powers, Vice Presidents Sanctions War and emergency powers International Affairs 00 2016-04-06 Introduced in Senate 2016-06-21T19:42:03Z Preventing Iran's Access to United States Dollars Act of 2016

This bill prohibits the President from issuing a license that permits a person to:

  • conduct an offshore U.S. dollar clearing system for transactions involving the government of Iran or an Iranian person, or
  • provide U.S. dollars for any offshore U.S. dollar clearing system conducted by a foreign government or a foreign financial institution for transactions involving the government of Iran or an Iranian person.

The Department of the Treasury shall report to Congress:

  • a list of financial institutions operating or participating in an offshore U.S. dollar clearing system that conducts transactions involving the government of Iran or an Iranian person, and
  • an assessment of Treasury efforts to prevent such transactions.

The President shall block and prohibit all transactions in property and property interests of any listed institution if the property and interests: (1) are in the United States, (2) come within the United States, or (3) are or come within the possession or control of a U.S. person. The President may impose additional sanctions pursuant to the International Emergency Economic Powers Act.

The National Defense Authorization Act for Fiscal Year 2012 is amended to subject to sanctions: (1) u-turn transactions (fund transfers from a foreign bank that pass through a U.S. financial institution and are then transferred to a second foreign bank), and (2) book transfers (fund transfers for the benefit of an Iranian financial institution made between accounts of the same financial institution).

]]> Preventing Iran's Access to United States Dollars Act of 2016 Display Title Preventing Iran's Access to United States Dollars Act of 2016 Official Title as Introduced A bill to prohibit the facilitation of certain financial transactions involving the Government of Iran or Iranian persons and to impose sanctions with respect to the facilitation of those transactions, and for other purposes. Introduced in Senate IS Short Titles as Introduced Preventing Iran's Access to United States Dollars Act of 2016 Introduced in Senate 2016-04-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2752is/xml/BILLS-114s2752is.xml 2016-04-06 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.