[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4898 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 4898

  To prohibit the Department of the Treasury from issuing licenses to 
permit offshore dollar clearing outside of the United States financial 
         system for transactions involving or benefitting Iran.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 11, 2016

  Mr. Trott introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To prohibit the Department of the Treasury from issuing licenses to 
permit offshore dollar clearing outside of the United States financial 
         system for transactions involving or benefitting Iran.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``No Dollars for Iran Act''.

SEC. 2. PROHIBITION ON CERTAIN LICENSES FOR OFFSHORE DOLLAR CLEARING 
              RELATED TO IRAN.

    The Secretary of the Treasury may not issue any license under the 
Iranian Transactions and Sanctions Regulations (31 C.F.R. Part 560), or 
under any other law, to permit a person to conduct offshore dollar 
clearing outside of the United States financial system for transactions 
involving or benefitting, directly or indirectly, the government of 
Iran or any Iranian person.
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