[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5711 Referred in Senate (RFS)]

<DOC>
114th CONGRESS
  2d Session
                                H. R. 5711


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           November 28, 2016

     Received; read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 AN ACT


 
  To prohibit the Secretary of the Treasury from authorizing certain 
  transactions by a U.S. financial institution in connection with the 
 export or re-export of a commercial passenger aircraft to the Islamic 
                           Republic of 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 U.S. Financing for Iran Act''.

                  TITLE I--IRAN FINANCING PROHIBITION

SEC. 101. PROHIBITION.

    The Secretary of the Treasury may not authorize a transaction by a 
United States financial institution (as defined under section 561.309 
of title 31, Code of Federal Regulations) in connection with the export 
or re-export of a commercial passenger aircraft to the Islamic Republic 
of Iran.

SEC. 102. REVOCATION OF PRIOR AUTHORIZATIONS.

    If the Secretary of the Treasury authorized any transaction 
described under section 101 before the date of the enactment of this 
title, such authorization is hereby revoked.

              TITLE II--NO EX-IM ASSISTANCE FOR TERRORISM

SEC. 201. SHORT TITLE.

    This title may be cited as the ``No Ex-Im Assistance for Terrorism 
Act''.

SEC. 202. PROHIBITION ON EXPORT-IMPORT BANK FINANCING THAT WOULD 
              BENEFIT IRAN.

    Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)) is amended by adding at the end the following:
    ``(14) Prohibition on Financing That Would Benefit Iran.--
            ``(A) Direct financing.--The Bank shall not guarantee, 
        insure, or extend (or participate in an extension of) credit in 
        connection with any transaction with respect to which credit 
        assistance from the Bank is first sought after the effective 
        date of this paragraph by--
                    ``(i) the Government of Iran or an entity owned or 
                controlled by the Government of Iran; or
                    ``(ii) an entity created under Iranian law, or a 
                foreign subsidiary of such an entity.
            ``(B) Indirect financing.--The Bank shall not guarantee, 
        insure, or extend (or participate in an extension of) credit in 
        connection with any transaction with respect to which credit 
        assistance from the Bank is first sought after the effective 
        date of this paragraph involving--
                    ``(i) an entity for the purpose of a transaction 
                involving the Government of Iran or an entity referred 
                to in subparagraph (A); or
                    ``(ii) a non-United States entity that, in the 5-
                year period ending with the date of the enactment of 
                this paragraph, has leased or sold aircraft to the 
                Government of Iran or an entity referred to in 
                subparagraph (A) in contravention of United States law, 
                or a subsidiary or controlling parent of such a non-
                United States entity.
            ``(C) Cancellation of approved financing.--The Bank shall 
        cease the provision of financial assistance approved by the 
        Bank in connection with a transaction with respect to which 
        credit assistance from the Bank is approved after the effective 
        date of this paragraph, on finding that the assistance has 
        facilitated the export, sale, or lease of an aircraft to an 
        entity referred to in subparagraph (A), and shall seek 
        immediate recovery of any amount provided by the Bank in 
        connection with the transaction.''.

                           TITLE III--SUNSET

SEC. 301. SUNSET.

    This Act and the amendment made by this Act shall cease to be 
effective on the date that is 30 days after the date on which the 
President certifies to Congress that the Government of Iran has ceased 
providing support for acts of international terrorism.

            Passed the House of Representatives November 17, 2016.

            Attest:

                                                 KAREN L. HAAS,

                                                                 Clerk.