[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1400 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 1400

  To enhance United States diplomatic efforts with respect to Iran by 
  imposing additional economic sanctions against Iran, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 8, 2007

Mr. Lantos (for himself, Ms. Ros-Lehtinen, Mr. Ackerman, Mr. Pence, Mr. 
Sherman, Mr. Royce, Mr. Berman, and Mr. Smith of New Jersey) introduced 
  the following bill; which was referred to the Committee on Foreign 
Affairs, and in addition to the Committees on Ways and Means, Financial 
  Services, Oversight and Government Reform, and the Judiciary, 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

_______________________________________________________________________

                                 A BILL


 
  To enhance United States diplomatic efforts with respect to Iran by 
  imposing additional economic sanctions against Iran, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE AND TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Iran Counter-
Proliferation Act of 2007''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title and table of contents.
Sec. 2. United States policy toward Iran.
  TITLE I--SUPPORT FOR DIPLOMATIC EFFORTS RELATING TO PREVENTING IRAN 
                     FROM ACQUIRING NUCLEAR WEAPONS

Sec. 101. Support for international diplomatic efforts.
Sec. 102. Peaceful efforts by the United States.
         TITLE II--ADDITIONAL BILATERAL SANCTIONS AGAINST IRAN

Sec. 201. Application to subsidiaries.
Sec. 202. Additional import sanctions against Iran.
Sec. 203. Additional export sanctions against Iran.
        TITLE III--AMENDMENTS TO THE IRAN SANCTIONS ACT OF 1996

Sec. 301. Multilateral regime.
Sec. 302. Mandatory sanctions.
Sec. 303. United States efforts to prevent investment.
Sec. 304. Clarification and expansion of definitions.
Sec. 305. Removal of waiver authority.
                     TITLE IV--ADDITIONAL MEASURES

Sec. 401. Additions to terrorism and other lists.
Sec. 402. Increased capacity for efforts to combat unlawful or 
                            terrorist financing.
Sec. 403. Exchange programs with the people of Iran.
Sec. 404. Reducing contributions to the World Bank.
Sec. 405. Restrictions on nuclear cooperation with countries assisting 
                            the nuclear program of Iran.
Sec. 406. Elimination of certain tax incentives for oil companies 
                            investing in Iran.
                   TITLE V--MISCELLANEOUS PROVISIONS

Sec. 501. Termination.

SEC. 2. UNITED STATES POLICY TOWARD IRAN.

    (a) Findings.--Congress finds the following:
            (1) The prospect of the Islamic Republic of Iran achieving 
        nuclear arms represents a grave threat to the United States and 
        its allies in the Middle East, Europe, and globally.
            (2) The nature of this threat is manifold, ranging from the 
        vastly enhanced political influence extremist Iran would wield 
        in its region, including the ability to intimidate its 
        neighbors, to, at its most nightmarish, the prospect that Iran 
        would attack its neighbors and others with nuclear arms. This 
        concern is illustrated by the statement of Hashemi Rafsanjani, 
        former president of Iran and currently a prominent member of 
        two of Iran's most important decision-making bodies, of 
        December 14, 2001, when he said that it ``is not irrational to 
        contemplate'' the use of nuclear weapons.
            (3) The theological nature of the Iranian regime creates a 
        special urgency in addressing Iran's efforts to acquire nuclear 
        weapons.
            (4) Iranian regime leaders have persistently denied 
        Israel's right to exist. Current President Mahmoud Ahmadinejad 
        has called for Israel to be ``wiped off the map''.
            (5) The nature of the Iranian threat makes it critical that 
        the United States and its allies do everything possible--
        diplomatically, politically, and economically--to prevent Iran 
        from acquiring nuclear-arms capability and persuade the Iranian 
        regime to halt its quest for nuclear arms.
    (b) Sense of Congress.--It is the sense of Congress that--
            (1) Iranian President Ahmadinejad's persistent denials of 
        the Holocaust and his repeated assertions that Israel should be 
        ``wiped off the map'' may constitute a violation of the 
        Convention on the Prevention and Punishment of the Crime of 
        Genocide and should be brought before an appropriate 
        international tribunal for the purpose of declaring Iran in 
        breach of the Genocide Convention;
            (2) the United States should increase use of its important 
        role in the international financial sector to isolate Iran;
            (3) Iran should be barred from entering the World Trade 
        Organization (WTO) until all issues related to its nuclear 
        program are resolved;
            (4) all future free trade agreements involving Iran should 
        be conditioned on the requirement that the parties to such 
        agreements pledge not to invest and not to allow companies 
        based on its territory or controlled by its citizens to invest 
        in Iran's energy sector or otherwise to make significant 
        investment in Iran;
            (5) United Nations Security Council Resolution 1737 
        (December 23, 2006), which was passed unanimously and mandates 
        an immediate and unconditional suspension of Iran's nuclear 
        enrichment program, represents a critical gain in the world-
        wide campaign to prevent Iran's acquisition of nuclear arms and 
        should be fully respected by all nations;
            (6) the United Nations Security Council should take further 
        measures beyond Resolution 1737 to tighten sanctions on Iran, 
        including preventing new investment in Iran's energy sector, as 
        long as Iran fails to comply with the international community's 
        demand to halt its nuclear enrichment campaign;
            (7) the United States should encourage foreign governments 
        to direct state owned entities to cease all investment in 
        Iran's energy sector and all exports of refined petroleum 
        products to Iran and to persuade, and, where possible, require 
        private entities based in their territories to cease all 
        investment in Iran's energy sector and all exports of refined 
        petroleum products to Iran;
            (8) moderate Arab states have a vital and perhaps 
        existential interest in preventing Iran from acquiring nuclear 
        arms, and therefore such states, particularly those with large 
        oil deposits, should use their economic leverage to dissuade 
        other nations, including the Russian Federation and the 
        People's Republic of China, from assisting Iran's nuclear 
        program directly or indirectly and to persuade other nations, 
        including Russia and China, to be more forthcoming in 
        supporting United Nations Security Council efforts to halt 
        Iran's nuclear program;
            (9) the United States should take all possible measures to 
        discourage and, if possible, prevent foreign banks from 
        providing export credits to foreign entities seeking to invest 
        in the Iranian energy sector;
            (10) the United States should oppose any further activity 
        by the International Bank for Reconstruction and Development 
        with respect to Iran, or the adoption of a new Country 
        Assistance Strategy for Iran, including by seeking the 
        cooperation of other countries;
            (11) the United States should extend its program of 
        discouraging foreign banks from accepting Iranian state banks 
        as clients;
            (12) the United States should prohibit all Iranian state 
        banks from using the United States banking system;
            (13) United States federal pension plans should divest 
        themselves of all non-United States companies investing more 
        than $20 million in Iran's energy sector;
            (14) State and local government pension plans should divest 
        themselves of all non-United States companies investing more 
        than $20 million in Iran's energy sector;
            (15) the United States should designate the Islamic 
        Revolutionary Guards Corps, which purveys terrorism throughout 
        the Middle East and plays an important role in the Iranian 
        economy, as a foreign terrorist organization under section 219 
        of the Immigration and Nationality Act, place the Islamic 
        Revolutionary Guards Corps on the list of specially designated 
        global terrorists, and place the Islamic Revolutionary Guards 
        Corps on the list of weapons of mass destruction proliferators 
        and their supporters; and
            (16) United States concerns regarding Iran are strictly the 
        result of actions of the Government of Iran; and
            (17) the American people have feelings of friendship for 
        the Iranian people, regret that developments of recent decades 
        have created impediments to that friendship, and hold the 
        Iranian people, their culture, and their ancient and rich 
        history in the highest esteem.

  TITLE I--SUPPORT FOR DIPLOMATIC EFFORTS RELATING TO PREVENTING IRAN 
                     FROM ACQUIRING NUCLEAR WEAPONS

SEC. 101. SUPPORT FOR INTERNATIONAL DIPLOMATIC EFFORTS.

    It is the sense of Congress that--
            (1) the United States should use diplomatic and economic 
        means to resolve the Iranian nuclear problem;
            (2) the United States should continue to support efforts in 
        the International Atomic Energy Agency and the United Nations 
        Security Council to bring about an end to Iran's uranium 
        enrichment program and its nuclear weapons program; and
            (3)(A) United Nations Security Council Resolution 1737 was 
        a useful first step toward pressing Iran to end its nuclear 
        weapons program; and
            (B) in light of Iran's continued defiance of the 
        international community, the United Nations Security Council 
        should adopt additional measures against Iran, including 
        measures to prohibit investments in Iran's energy sector.

SEC. 102. PEACEFUL EFFORTS BY THE UNITED STATES.

    Nothing in this Act shall be construed as authorizing the use of 
force or the use of the United States Armed Forces against Iran.

         TITLE II--ADDITIONAL BILATERAL SANCTIONS AGAINST IRAN

SEC. 201. APPLICATION TO SUBSIDIARIES.

    (a) In General.--In any case in which an entity engages in an act 
outside the United States which, if committed in the United States or 
by a United States person, would violate Executive Order No. 12959 of 
May 6, 1995, Executive Order No. 13059 of August 19, 1997, or any other 
prohibition on transactions with respect to Iran that is imposed under 
the International Emergency Economic Powers Act (50 U.S.C. 1701 et 
seq.) and if that entity was created or availed of for the purpose of 
engaging in such an act, the parent company of that entity shall be 
subject to the penalties for such violation to the same extent as if 
the parent company had engaged in that act.
    (b) Definitions.--In this section--
            (1) an entity is a ``parent company'' of another entity if 
        it owns, directly or indirectly, more than 50 percent of the 
        equity interest in that other entity and is a United States 
        person; and
            (2) the term ``entity'' means a partnership, association, 
        trust, joint venture, corporation, or other organization.

SEC. 202. ADDITIONAL IMPORT SANCTIONS AGAINST IRAN.

    Effective 120 days after the date of the enactment of this Act--
            (1) goods of Iranian origin that are otherwise authorized 
        to be imported under section 560.534 of title 31, Code of 
        Federal Regulations, as in effect on March 5, 2007, may not be 
        imported into the United States; and
            (2) activities otherwise authorized by section 560.535 of 
        title 31, Code of Federal Regulations, as in effect on March 5, 
        2007, are no longer authorized.

SEC. 203. ADDITIONAL EXPORT SANCTIONS AGAINST IRAN.

    Effective on the date of the enactment of this Act--
            (1) Licenses to export or reexport goods, services, or 
        technology relating to civil aviation that are otherwise 
        authorized by section 560.528 of title 31, Code of Federal 
        Regulations, as in effect on March 5, 2007, may not be issued, 
        and any such license issued before such date of enactment is no 
        longer valid; and
            (2) goods, services, or technology described in paragraph 
        (1) may not be exported or reexported.

        TITLE III--AMENDMENTS TO THE IRAN SANCTIONS ACT OF 1996

SEC. 301. MULTILATERAL REGIME.

    Section 4(b) of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 
note) is amended to read as follows:
    ``(b) Reports to Congress.--Not later than 6 months after the date 
of the enactment of the Iran Counter-Proliferation Act of 2007 and 
every six months thereafter, the President shall submit to the 
appropriate congressional committees a report regarding specific 
diplomatic efforts undertaken pursuant to subsection (a), the results 
of those efforts, and a description of proposed diplomatic efforts 
pursuant to such subsection. Each report shall include--
            ``(1) a list of the countries that have agreed to undertake 
        measures to further the objectives of section 3 with respect to 
        Iran;
            ``(2) a description of those measures, including--
                    ``(A) government actions with respect to public or 
                private entities (or their subsidiaries) located in 
                their territories, that are engaged in Iran;
                    ``(B) any decisions by the governments of these 
                countries to rescind or continue the provision of 
                credits, guarantees, or other governmental assistance 
                to these entities; and
                    ``(C) actions taken in international fora to 
                further the objectives of section 3;
            ``(3) a list of the countries that have not agreed to 
        undertake measures to further the objectives of section 3 with 
        respect to Iran, and the reasons therefor; and
            ``(4) a description of any memorandums of understanding, 
        political understandings, or international agreements to which 
        the United States has acceded which affect implementation of 
        this section or section 5(a).''.

SEC. 302. MANDATORY SANCTIONS.

    Section 5(a) of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 
note) is amended by striking ``2 or more of the sanctions described in 
paragraphs (1) through (6) of section 6'' and inserting ``the sanction 
described in paragraph (5) of section 6 and, in addition, one or more 
of the sanctions described in paragraphs (1), (2), (3), (4), and (6) of 
such section''.

SEC. 303. UNITED STATES EFFORTS TO PREVENT INVESTMENT.

    Section 5 of the Iran Sanctions Act of 1996 is amended by adding 
the following new subsection at the end:
    ``(g) United States Efforts to Address Planned Investment.--
            ``(1) Reports on investment activity.--Not later than 
        January 30, 2008, and every 6 months thereafter, the President 
        shall transmit to the Committee on Foreign Affairs of the House 
        of Representatives and the Committee on Foreign Relations of 
        the Senate a report on investment and pre-investment activity, 
        by any person or entity, that could contribute to the 
        enhancement of Iran's ability to develop petroleum resources in 
        Iran. For each such activity, the President shall provide a 
        description of the activity, any information regarding when 
        actual investment may commence, and what steps the United 
        States has taken to respond to such activity.
            ``(2) Definition.--In this subsection--
                    ``(A) the term `investment' includes the extension 
                by a financial institution of credit or other financing 
                to a person for that person's investment; and
                    ``(B) the term `pre-investment activity' means any 
                activity indicating an intent to make an investment, 
                including a memorandum of understanding among parties 
                indicating such an intent.''

SEC. 304. CLARIFICATION AND EXPANSION OF DEFINITIONS.

    (a) Person.--Section 14(13)(B) of the Iran Sanctions Act of 1996 
(50 U.S.C. 1701 note) is amended--
            (1) by inserting after ``trust,'' the following: 
        ``financial institution, insurer, underwriter, guarantor, any 
        other business organization, including any foreign subsidiaries 
        of the foregoing,''; and
            (2) by inserting before the semicolon the following: ``, 
        such as an export credit agency''.
    (b) Petroleum Resources.--Section 14(14) of the Iran Sanctions Act 
of 1996 (50 U.S.C. 1701 note) is amended by inserting after 
``petroleum'' the second place it appears, the following: ``, petroleum 
by-products, liquefied natural gas, the sale of oil or liquefied 
natural gas tankers,''.

SEC. 305. REMOVAL OF WAIVER AUTHORITY.

    (a) Six-Month Waiver Authority.--Section 4 of the Iran Sanctions 
Act of 1996 (50 U.S.C. 1701 note) is amended--
            (1) in subsection (d)(1), by striking ``except those with 
        respect to which the President has exercised the waiver 
        authority under subsection (c)'';
            (2) by striking subsection (c); and
            (3) by redesignating subsections (d), (e), and (f) as 
        subsections (c), (d), and (e), respectively.
    (b) General Waiver Authority.--Section 9 of the Iran Sanctions Act 
of 1996 (50 U.S.C. 1701 note) is amended by striking subsection (c).
    (c) Construction.--The amendments made by this section shall not be 
construed to affect any exercise of the authority of section 4(c) or 
section 9(c) of the Iran Sanctions Act of 1996 as in effect on the day 
before the date of the enactment of this Act.

                     TITLE IV--ADDITIONAL MEASURES

SEC. 401. ADDITIONS TO TERRORISM AND OTHER LISTS.

    (a) Determinations and Report.--Not later than 120 days after the 
date of the enactment of this Act, the President shall--
            (1) determine whether the Islamic Revolutionary Guards 
        Corps should be--
                    (A) designated as a foreign terrorist organization 
                under section 219 of the Immigration and Nationality 
                Act (8 U.S.C. 1189);
                    (B) placed on the list of specially designated 
                global terrorists; and
                    (C) placed on the list of weapons of mass 
                destruction proliferators and their supporters; and
            (2) report the determinations under paragraph (1) to the 
        Committee on Foreign Affairs of the House of Representatives 
        and the Committee on Foreign Relations of the Senate, 
        including, if the President determines that such Corps should 
        not be so designated or placed on either such list, the 
        justification for the President's determination.
    (b) Definitions.--In this section--
            (1) the term ``specially designated global terrorist'' 
        means any person included on the Annex to Executive Order 
        13224, of September 23, 2001, and any other person identified 
        under section 1 of that Executive order whose property and 
        interests in property are blocked by that section; and
            (2) the term ``weapons of mass destruction proliferators 
        and their supporters'' means any person included on the Annex 
        to Executive Order 13382, of June 28, 2005, and any other 
        person identified under section 1 of that Executive order whose 
        property and interests in property are blocked by that section.

SEC. 402. INCREASED CAPACITY FOR EFFORTS TO COMBAT UNLAWFUL OR 
              TERRORIST FINANCING.

    (a) Findings.--The work of the Office of Terrorism and Financial 
Intelligence of the Department of Treasury, which includes the Office 
of Foreign Assets Control and the Financial Crimes Enforcement Center, 
is critical to ensuring that the international financial system is not 
used for purposes of supporting terrorism and developing weapons of 
mass destruction.
    (b) Authorization.--There is authorized for the Secretary of the 
Treasury $59,466,000 for fiscal year 2008 and such sums as may be 
necessary for each of the fiscal years 2009 and 2010 for the Office of 
Terrorism and Financial Intelligence.
    (c) Authorization Amendment.--Section 310(d)(1) of title 31, United 
States Code, is amended by striking ``such sums as may be necessary for 
fiscal years 2002, 2003, 2004, and 2005'' and inserting ``$85,844,000 
for fiscal year 2008 and such sums as may be necessary for each of the 
fiscal years 2009 and 2010''.

SEC. 403. EXCHANGE PROGRAMS WITH THE PEOPLE OF IRAN.

    (a) Sense of Congress.--It is the sense of Congress that the United 
States should seek to enhance its friendship with the people of Iran, 
particularly by identifying young people of Iran to come to the United 
States under United States exchange programs.
    (b) Exchange Programs Authorized.--The President is authorized to 
carry out exchange programs with the people of Iran, particularly the 
young people of Iran. Such programs shall be carried out to the extent 
practicable in a manner consistent with the eligibility for assistance 
requirements specified in section 302(b) of the Iran Freedom Support 
Act (Public Law 109-293).
    (c) Authorization.--Of the amounts available for ``Educational and 
Cultural Exchanges'', there is authorized to be appropriated to the 
President to carry out this section $10,000,000 for fiscal year 2008.

SEC. 404. REDUCING CONTRIBUTIONS TO THE WORLD BANK.

    The President of the United States shall reduce the total amount 
otherwise payable on behalf of the United States to the International 
Bank for Reconstruction and Development for each fiscal year by the 
percentage represented by--
            (1) the total of the amounts provided by the Bank to 
        entities in Iran, or for projects and activities in Iran, in 
        the then preceding fiscal year; divided by
            (2) the total of the amounts provided by the Bank to all 
        entities, or for all projects and activities, in the then 
        preceding fiscal year.

SEC. 405. RESTRICTIONS ON NUCLEAR COOPERATION WITH COUNTRIES ASSISTING 
              THE NUCLEAR PROGRAM OF IRAN.

    (a) In General.--Notwithstanding any other provision of law or any 
international agreement, no agreement for cooperation between the 
United States and the government of any country that is assisting the 
nuclear program of Iran or transferring advanced conventional weapons 
or missiles to Iran may be submitted to the President or to Congress 
pursuant to section 123 of the Atomic Energy Act of 1954 (42 U.S.C. 
2153), no such agreement may enter into force with such country, no 
license may be issued for export directly or indirectly to such country 
of any nuclear material, facilities, components, or other goods, 
services, or technology that would be subject to such agreement, and no 
approval may be given for the transfer or retransfer directly or 
indirectly to such country of any nuclear material, facilities, 
components, or other goods, services, or technology that would be 
subject to such agreement, until the President determines and reports 
to the Committee on Foreign Relations of the Senate and the Committee 
on International Relations of the House of Representatives that--
            (1) Iran has ceased its efforts to design, develop, or 
        acquire a nuclear explosive device or related materials or 
        technology; or
            (2) the government of the country that is assisting the 
        nuclear program of Iran or transferring advanced conventional 
        weapons or missiles to Iran--
                    (A) has suspended all nuclear assistance to Iran 
                and all transfers of advanced conventional weapons and 
                missiles to Iran; and
                    (B) is committed to maintaining that suspension 
                until Iran has implemented measures that would permit 
                the President to make the determination described in 
                paragraph (1).
    (b) Construction.--The restrictions in subsection (a)--
            (1) shall apply in addition to all other applicable 
        procedures, requirements, and restrictions contained in the 
        Atomic Energy Act of 1954 and other laws; and
            (2) shall not be construed as affecting the validity of 
        agreements for cooperation that are in effect on the date of 
        the enactment of this Act.
    (c) Definitions.--In this section:
            (1) Agreement for cooperation.--The term ``agreement for 
        cooperation'' has the meaning given that term in section 11 b. 
        of the Atomic Energy Act of 1954 (42 U.S.C. 2014(b)).
            (2) Assisting the nuclear program of iran.--The term 
        ``assisting the nuclear program of Iran'' means the intentional 
        transfer to Iran by a government, or by a person subject to the 
        jurisdiction of a government with the knowledge and 
        acquiescence of that government, of goods, services, or 
        technology listed on the Nuclear Suppliers Group Guidelines for 
        the Export of Nuclear Material, Equipment and Technology 
        (published by the International Atomic Energy Agency as 
        Information Circular INFCIRC/254/Rev. 3/Part 1, and subsequent 
        revisions) or Guidelines for Transfers of Nuclear-Related Dual-
        Use Equipment, Material, and Related Technology (published by 
        the International Atomic Energy Agency as Information Circular 
        INFCIR/254/Rev. 3/Part 2, and subsequent revisions).
            (3) Country that is assisting the nuclear program of iran 
        or transferring advanced conventional weapons or missiles to 
        iran.--The term ``country that is assisting the nuclear program 
        of Iran or transferring advanced conventional weapons or 
        missiles to Iran'' means--
                    (A) Russia; and
                    (B) any other country determined by the President 
                to be assisting the nuclear program of Iran or 
                transferring advanced conventional weapons or missiles 
                to Iran.
            (4) Transferring advanced conventional weapons or missiles 
        to iran.--The term ``transferring advanced conventional weapons 
        or missiles to Iran'' means the intentional transfer to Iran by 
        a government, or by a person subject to the jurisdiction of a 
        government with the knowledge and acquiescence of that 
        government, of goods, services, or technology listed on--
                    (A) the Wassenaar Arrangement list of Dual Use 
                Goods and Technologies and Munitions list of July 12, 
                1996, and subsequent revisions; or
                    (B) the Missile Technology Control Regime Equipment 
                and Technology Annex of June 11, 1996, and subsequent 
                revisions.

SEC. 406. ELIMINATION OF CERTAIN TAX INCENTIVES FOR OIL COMPANIES 
              INVESTING IN IRAN.

    (a) In General.--Subsection (h) of section 167 of the Internal 
Revenue Code of 1986 (relating to amortization of geological and 
geophysical expenditures) is amended by adding at the end the following 
new paragraph:
            ``(6) Denial when iran sanctions in effect.--
                    ``(A) In general.--If sanctions are imposed under 
                section 5(a) of the Iran Sanctions Act of 1996 
                (relating to sanctions with respect to the development 
                of petroleum resources of Iran) on any member of an 
                expanded affiliated group the common parent of which is 
                a foreign corporation, paragraph (1) shall not apply to 
                any expense paid or incurred by any such member in any 
                period during which the sanctions are in effect.
                    ``(B) Expanded affiliated group.--For purposes of 
                subparagraph (A), the term `expanded affiliated group' 
                means an affiliated group as defined in section 
                1504(a), determined--
                            ``(i) by substituting `more than 50 
                        percent' for `at least 80 percent' each place 
                        it appears, and
                            ``(ii) without regard to paragraphs (2), 
                        (3), and (4) of section 1504(b).''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to expense paid or incurred on or after January 1, 2007.

                   TITLE V--MISCELLANEOUS PROVISIONS

SEC. 501. TERMINATION.

    (a) Termination.--The restrictions provided in sections 203, 404, 
and 405 shall no longer have force or effect with respect to Iran if 
the President determines and certifies to the appropriate congressional 
committees that Iran--
            (1) has ceased its efforts to design, develop, manufacture, 
        or acquire--
                    (A) a nuclear explosive device or related materials 
                and technology;
                    (B) chemical and biological weapons; and
                    (C) ballistic missiles and ballistic missile launch 
                technology;
            (2) has been removed from the list of countries the 
        governments of which have been determined, for purposes of 
        section 6(j) of the Export Administration Act of 1979 (50 
        U.S.C. 2405(j)) to have repeatedly provided support for acts of 
        international terrorism; and
            (3) poses no significant threat to United States national 
        security, interests, or allies.
    (b) Definition.--In subsection (a), the term ``appropriate 
congressional committees'' means the Committee on Foreign Affairs of 
the House of Representatives and the Committee on Foreign Relations of 
the Senate.
                                 <all>