II Calendar No. 199 110th CONGRESS 1st Session S. 1612 [Report No. 110–82] IN THE SENATE OF THE UNITED STATES June 13, 2007 Mr. Dodd, from the Committee on Banking, Housing, and Urban Affairs, reported the following original bill; which was read twice and placed on the calendar A BILL To amend the penalty provisions in the International Emergency Economic Powers Act, and for other purposes.

1.

Short title

This Act may be cited as the International Emergency Economic Powers Enhancement Act.

2.

Increased Penalties for violations of IEEPA

(a)

In general

Section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) is amended to read as follows:

206.

Penalties

(a)

Unlawful acts

It shall be unlawful for a person to violate, attempt to violate, conspire to violate, or cause a violation of any license, order, regulation, or prohibition issued under this title. (b)

Civil penalty

A civil penalty may be imposed on any person who commits an unlawful act described in subsection (a) in an amount not to exceed the greater of— (1)$250,000; or (2)an amount that is twice the amount of the transaction that is the basis of the violation with respect to which the penalty is imposed. (c)

Criminal penalty

A person who willfully commits, willfully attempts to commit, or willfully conspires to commit, or aids or abets in the commission of, an unlawful act described in subsection (a) shall, upon conviction, be fined not more than $1,000,000, or if a natural person, may be imprisoned for not more than 20 years, or both.

. (b)

Effective date

The amendment made by subsection (a) applies to violations described in section 206 of the International Emergency Economic Powers Act (50 U.S.C. 1705) with respect to which enforcement action is pending or commenced on or after the date of the enactment of this Act.

June 13, 2007 Read twice and placed on the calendar