3.0.0 7402 2022-12-29T23:03:26Z 2022-12-29T23:03:26Z House HR 2022-04-05 117 [Congressional Record Volume 168, Number 60 (Tuesday, April 5, 2022)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HUIZENGA:H.R. 7402.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clauses I[Page H4191]]]> hsba00 Financial Services Committee House Standing Referred to 2022-04-05T14:03:00Z 2022-04-05 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2022-04-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2022-04-05 Introduced in House IntroReferral 1000 9 Library of Congress H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 N Foreign Trade and International Finance Energy Foreign Trade and International Finance 00 2022-04-05 Introduced in House 2022-07-20T21:05:46Z No U.S. Financing for Iran Act of 2022

This bill prohibits certain actions related to exports, imports, and financing with respect to Iran.

Specifically, the bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the importation from or exportation to Iran of goods, services, or technology. This prohibition does not apply to the sale of agricultural commodities, food, medicine, or medical devices benefitting the civilian population of Iran.

The bill requires Treasury to instruct U.S. representatives to the International Monetary Fund (IMF) to (1) oppose IMF financial assistance, and the allocation of Special Drawing Rights (SDR), to Iran; and (2) seek to ensure that IMF member countries prohibit the exchange of SDR held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)

Further, the bill provides statutory authority for the prohibition on Export-Import Bank financing with respect to Iran.

The bill's provisions shall be in effect until the earlier of (1) 30 days after the President certifies to Congress that Iran has ceased providing support for acts of international terrorism and is not a jurisdiction of primary money laundering concern, (2) 30 days after Treasury reports to Congress that termination of the provisions is necessary to comply with treaties ratified by the United States, or (3) 10 years after this bill's enactment.

]]> No U.S. Financing for Iran Act of 2022 Display Title No U.S. Financing for Iran Act of 2022 Short Title(s) as Introduced No U.S. Financing for Iran Act of 2022 Introduced in House IH Official Title as Introduced 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. Introduced in House IH Introduced in House 2022-04-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr7402ih/xml/BILLS-117hr7402ih.xml 2022-04-05 Referred to the House Committee on Financial Services. 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.