3.0.0 4676 2023-01-11T13:39:14Z 2023-01-11T13:39:14Z House HR 2017-12-18 115 [Congressional Record Volume 163, Number 206 (Monday, December 18, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. McCAUL:H.R. 4676.Congress has the power to enact this legislation pursuantto the following:Article I, section 8, clause 1; and Article I, section 8,clause 18 of the Constitution of the United States[Page H10180]]]> hsfa00 Foreign Affairs Committee House Standing Referred to 2017-12-18T17:01:30Z 2017-12-18 Referred to the House Committee on Foreign Affairs. IntroReferral H11100 2 House floor actions hsfa00 Foreign Affairs Committee 2017-12-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-12-18 Introduced in House IntroReferral 1000 9 Library of Congress M001157 Rep. McCaul, Michael T. [R-TX-10] Michael McCaul R TX T. 10 N International Affairs Administrative law and regulatory procedures Corporate finance and management Department of the Treasury Foreign property Iran Middle East Sanctions War and emergency powers International Affairs 00 2017-12-18 Introduced in House 2019-08-27T14:19:43Z Expanding Sanctions Against Iran's Revolutionary Guard Corps Act

This bill expresses the sense of Congress that: (1) persons who are owned or controlled by Iran's Revolutionary Guard Corps (IRGC) should be subject to a 25% beneficial ownership threshold rather than majority ownership threshold with respect to blocking property or property interests, and (2) such expanded sanctions would generate enhanced due diligence procedures by the private sector and others.

For purposes of this bill, a person "owns or controls" property if the person: (1) holds more than 25% of the equity interest by vote or value in the person; (2) holds a majority of seats on the board of directors of the person; or (3) otherwise controls the actions, policies, or personnel decisions of the person.

The Department of the Treasury shall prescribe regulations to apply the definition of "own or control" for purposes of blocking property or interests in property of persons who are owned or controlled by the IRGC.

]]> Expanding Sanctions Against Iran's Revolutionary Guard Corps Act Display Title Expanding Sanctions Against Iran's Revolutionary Guard Corps Act Short Titles as Introduced Expanding Sanctions Against Iran's Revolutionary Guard Corps Act Official Title as Introduced To direct the Secretary of the Treasury to prescribe regulations to expand sanctions against persons owned or controlled by Iran's Revolutionary Guard Corps, and for other purposes. Introduced in House 2017-12-18T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr4676ih/xml/BILLS-115hr4676ih.xml 2017-12-18 Referred to the House Committee on Foreign 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.