[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 2725 Introduced in Senate (IS)]
<DOC>
114th CONGRESS
2d Session
S. 2725
To impose sanctions with respect to the ballistic missile program of
Iran, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 17, 2016
Ms. Ayotte (for herself, Mr. Rubio, Mr. Kirk, Mr. Graham, Mr.
McConnell, Mr. Cornyn, Mr. Gardner, Mr. Risch, Mrs. Ernst, Mr. Portman,
Ms. Murkowski, and Mr. Cruz) introduced the following bill; which was
read twice and referred to the Committee on Banking, Housing, and Urban
Affairs
_______________________________________________________________________
A BILL
To impose sanctions with respect to the ballistic missile program of
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.
This Act may be cited as the ``Iran Ballistic Missile Sanctions Act
of 2016''.
SEC. 2. FINDINGS.
Congress finds the following:
(1) On April 2, 2015, President Barack Obama said, ``Other
American sanctions on Iran for its support of terrorism, its
human rights abuses, its ballistic missile program, will
continue to be fully enforced.''.
(2) On July 7, 2015, General Martin Dempsey, then-Chairman
of the Joint Chiefs of Staff, said, ``Under no circumstances
should we relieve the pressure on Iran relative to ballistic
missile capabilities.''.
(3) On July 29, 2015, in his role as the top military
officer in the United States and advisor to the President,
General Dempsey confirmed that his military recommendation was
that sanctions relating to the ballistic missile program of
Iran not be lifted.
(4) The Government of Iran and Iran's Revolutionary Guard
Corps have been responsible for the repeated testing of illegal
ballistic missiles capable of carrying a nuclear device,
including observed tests in October and November 2015 and March
2016, violating United Nations Security Council resolutions.
(5) On October 14, 2015, Samantha Power, United States
Ambassador to the United Nations, said, ``One of the really
important features in implementation of the recent Iran deal to
dismantle Iran's nuclear program is going to have to be
enforcement of the resolutions and the standards that remain on
the books.''.
(6) On December 11, 2015, the United Nations Panel of
Experts concluded that the missile launch on October 10, 2015,
``was a violation by Iran of paragraph 9 of Security Council
resolution 1929 (2010)''.
(7) On January 17, 2016, Adam Szubin, Acting Under
Secretary for Terrorism and Financial Intelligence, stated,
``Iran's ballistic missile program poses a significant threat
to regional and global security, and it will continue to be
subject to international sanctions. We have consistently made
clear that the United States will vigorously press sanctions
against Iranian activities outside of the Joint Comprehensive
Plan of Action--including those related to Iran's support for
terrorism, regional destabilization, human rights abuses, and
ballistic missile program.''.
(8) On February 9, 2016, James Clapper, Director of
National Intelligence, testified that, ``We judge that Tehran
would choose ballistic missiles as its preferred method of
delivering nuclear weapons, if it builds them. Iran's ballistic
missiles are inherently capable of delivering WMD, and Tehran
already has the largest inventory of ballistic missiles in the
Middle East. Iran's progress on space launch vehicles--along
with its desire to deter the United States and its allies--
provides Tehran with the means and motivation to develop
longer-range missiles, including ICBMs.''.
(9) On March 9, 2016, Iran reportedly fired two Qadr
ballistic missiles with a range of more than 1,000 miles and
according to public reports, the missiles were marked with a
statement in Hebrew reading, ``Israel must be wiped off the
arena of time.''.
(10) On March 11, 2016, Ambassador Power called the recent
ballistic missile launches by Iran ``provocative and
destabilizing'' and called on the international community to
``degrade Iran's missile program''.
(11) On March 14, 2016, Ambassador Power said that the
recent ballistic missile launches by Iran were ``in defiance of
provisions of UN Security Council Resolution 2231''.
(12) Iran has demonstrated the ability to launch multiple
rockets from fortified underground facilities and mobile launch
sites not previously known.
(13) The ongoing procurement by Iran of technologies needed
to boost the range, accuracy, and payloads of its diverse
ballistic missile arsenal represents a threat to deployed
personnel of the United States and allies of the United States
in Europe and the Middle East, including Israel.
(14) Ashton Carter, Secretary of Defense, testified in a
hearing before the Armed Services Committee of the Senate on
July 7, 2015, that, ``[T]he reason that we want to stop Iran
from having an ICBM program is that the I in ICBM stands for
intercontinental, which means having the capability to fly from
Iran to the United States, and we don't want that. That's why
we oppose ICBMs.''.
(15) Through recent ballistic missile launch tests the
Government of Iran has shown blatant disregard for
international laws and its intention to continue tests of that
nature throughout the implementation of the Joint Comprehensive
Plan of Action.
(16) The banking sector of Iran has facilitated the
financing of the ballistic missile programs in Iran and
evidence has not been provided that entities in that sector
have ceased facilitating the financing of those programs.
(17) Iran has been able to amass a large arsenal of
ballistic missiles through its illicit smuggling networks and
domestic manufacturing capabilities that have been supported
and maintained by Iran's Revolutionary Guard Corps and specific
sectors of the economy of Iran.
(18) Penetration by Iran's Revolutionary Guard Corps into
the economy of Iran is well documented including investments in
the construction, automotive, telecommunications, electronics,
mining, metallurgy, and petrochemical sectors of the economy of
Iran.
(19) Items procured through sectors of Iran specified in
paragraph (18) have dual use applications that are currently
being used to create ballistic missiles in Iran and will
continue to be a source of materials for the creation of future
weapons.
(20) In order to curb future illicit activity by Iran, the
Government of the United States and the international community
must take action against persons that facilitate and profit
from the illegal acquisition of ballistic missile parts and
technology in support of the missile programs of Iran.
SEC. 3. SENSE OF CONGRESS.
It is the sense of Congress that--
(1) the ballistic missile program of Iran represents a
serious threat to allies of the United States in the Middle
East and Europe, members of the Armed Forces deployed in the
those regions, and ultimately the United States;
(2) the testing and production by Iran of ballistic
missiles capable of carrying a nuclear device is a clear
violation of United Nations Security Council Resolution 2231
(2015), which was unanimously adopted by the international
community;
(3) Iran is using its space launch program to develop the
capabilities necessary to deploy an intercontinental ballistic
missile that could threaten the United States, and the Director
of National Intelligence has assessed that Iran would use
ballistic missiles as its ``preferred method of delivering
nuclear weapons''; and
(4) the Government of the United States should impose tough
primary and secondary sanctions against any sector of the
economy of Iran or any Iranian person that directly or
indirectly supports the ballistic missile program of Iran as
well as any foreign person or financial institution that
engages in transactions or trade that support that program.
SEC. 4. EXPANSION OF SANCTIONS WITH RESPECT TO EFFORTS BY IRAN TO
ACQUIRE BALLISTIC MISSILE AND RELATED TECHNOLOGY.
(a) Certain Persons.--Section 1604(a) of the Iran-Iraq Arms Non-
Proliferation Act of 1992 (Public Law 102-484; 50 U.S.C. 1701 note) is
amended, in the matter preceding paragraph (1), by inserting ``, to
acquire ballistic missile or related technology,'' after ``nuclear
weapons''.
(b) Foreign Countries.--Section 1605(a) of the Iran-Iraq Arms Non-
Proliferation Act of 1992 (Public Law 102-484; 50 U.S.C. 1701 note) is
amended, in the matter preceding paragraph (1), by inserting ``, to
acquire ballistic missile or related technology,'' after ``nuclear
weapons''.
SEC. 5. EXTENSION OF IRAN SANCTIONS ACT OF 1996 AND EXPANSION OF
SANCTIONS WITH RESPECT TO PERSONS THAT ACQUIRE OR DEVELOP
BALLISTIC MISSILES.
(a) Expansion of Mandatory Sanctions.--Section 5(b)(1)(B) of the
Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) is
amended--
(1) in clause (i), by striking ``would likely'' and
inserting ``may''; and
(2) in clause (ii)--
(A) in subclause (I), by striking ``; or'' and
inserting a semicolon;
(B) by redesignating subclause (II) as subclause
(III); and
(C) by inserting after subclause (I) the following:
``(II) acquire or develop ballistic
missiles and the capability to launch
ballistic missiles; or''.
(b) Extension of Iran Sanctions Act of 1996.--Section 13(b) of the
Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note) is
amended by striking ``December 31, 2016'' and inserting ``December 31,
2031''.
SEC. 6. IMPOSITION OF SANCTIONS WITH RESPECT TO BALLISTIC MISSILE
PROGRAM OF IRAN.
(a) In General.--Title II of the Iran Threat Reduction and Syria
Human Rights Act of 2012 (22 U.S.C. 8721 et seq.) is amended by adding
at the end the following:
``Subtitle C--Measures Relating to Ballistic Missile Program of Iran
``SEC. 231. DEFINITIONS.
``(a) In General.--In this subtitle:
``(1) Agricultural commodity.--The term `agricultural
commodity' has the meaning given that term in section 102 of
the Agricultural Trade Act of 1978 (7 U.S.C. 5602).
``(2) Appropriate committees of congress.--The term
`appropriate committees of Congress' means--
``(A) the committees specified in section 14(2) of
the Iran Sanctions Act of 1996 (Public Law 104-172; 50
U.S.C. 1701 note); and
``(B) the congressional defense committees, as
defined in section 101 of title 10, United States Code.
``(3) Correspondent account; payable-through account.--The
terms `correspondent account' and `payable-through account'
have the meanings given those terms in section 5318A of title
31, United States Code.
``(4) Foreign financial institution.--The term `foreign
financial institution' has the meaning of that term as
determined by the Secretary of the Treasury pursuant to section
104(i) of the Comprehensive Iran Sanctions, Accountability, and
Divestment Act of 2010 (22 U.S.C. 8513(i)).
``(5) Good.--The term `good' has the meaning given that
term in section 16 of the Export Administration Act of 1979 (50
U.S.C. 4618) (as continued in effect pursuant to the
International Emergency Economic Powers Act (50 U.S.C. 1701 et
seq.)).
``(6) Government.--The term `Government', with respect to a
foreign country, includes any agencies or instrumentalities of
that Government and any entities controlled by that Government.
``(7) Medical device.--The term `medical device' has the
meaning given the term `device' in section 201 of the Federal
Food, Drug, and Cosmetic Act (21 U.S.C. 321).
``(8) Medicine.--The term `medicine' has the meaning given
the term `drug' in section 201 of the Federal Food, Drug, and
Cosmetic Act (21 U.S.C. 321).
``(b) Determinations of Significance.--For purposes of this
subtitle, in determining if financial transactions or financial
services are significant, the President may consider the totality of
the facts and circumstances, including factors similar to the factors
set forth in section 561.404 of title 31, Code of Federal Regulations
(or any corresponding similar regulation or ruling).
``SEC. 232. IMPOSITION OF SANCTIONS WITH RESPECT TO PERSONS THAT
SUPPORT THE BALLISTIC MISSILE PROGRAM OF IRAN.
``(a) Identification of Persons.--
``(1) In general.--Not later than 120 days after the date
of the enactment of the Iran Ballistic Missile Sanctions Act of
2016, and not less frequently than once every 180 days
thereafter, the President shall, in coordination with the
Secretary of Defense, the Director of National Intelligence,
the Secretary of the Treasury, and the Secretary of State,
submit to the appropriate committees of Congress a report
identifying persons that have knowingly aided the Government of
Iran in the development of the ballistic missile program of
Iran.
``(2) Elements.--Each report required by paragraph (1)
shall include the following:
``(A) An identification of persons (disaggregated
by Iranian and non-Iranian persons) that have knowingly
aided the Government of Iran in the development of the
ballistic missile program of Iran, including persons
that have--
``(i) knowingly engaged in the direct or
indirect provision of material support to such
program;
``(ii) knowingly facilitated, supported, or
engaged in activities to further the
development of such program;
``(iii) knowingly transmitted information
relating to ballistic missiles to the
Government of Iran; or
``(iv) otherwise knowingly aided such
program.
``(B) A description of the character and
significance of the cooperation of each person
identified under subparagraph (A) with the Government
of Iran with respect to such program.
``(C) An assessment of the cooperation of the
Government of the Democratic People's Republic of Korea
with the Government of Iran with respect to such
program.
``(3) Classified annex.--Each report required by paragraph
(1) shall be submitted in unclassified form, but may contain a
classified annex.
``(b) Blocking of Property.--
``(1) In general.--Not later than 15 days after submitting
a report required by subsection (a)(1), the President shall, in
accordance with the International Emergency Economic Powers Act
(50 U.S.C. 1701 et seq.), block and prohibit all transactions
in all property and interests in property of any person
specified in such report if such property and interests in
property are in the United States, come within the United
States, or are or come within the possession or control of a
United States person.
``(2) Inapplicability of national emergency requirement.--
The requirements under section 202 of the International
Emergency Economic Powers Act (50 U.S.C. 1701) shall not apply
for purposes of this subsection.
``(c) Exclusion From United States.--
``(1) In general.--Except as provided in paragraph (2), the
Secretary of State shall deny a visa to, and the Secretary of
Homeland Security shall exclude from the United States, any
alien subject to blocking of property and interests in property
under subsection (b).
``(2) Compliance with united nations headquarters
agreement.--Paragraph (1) shall not apply to the head of state
of Iran, or necessary staff of that head of state, if admission
to the United States is necessary to permit the United States
to comply with the Agreement regarding the Headquarters of the
United Nations, signed at Lake Success June 26, 1947, and
entered into force November 21, 1947, between the United
Nations and the United States.
``(d) Facilitation of Certain Transactions.--The President shall
prohibit the opening, and prohibit or impose strict conditions on the
maintaining, in the United States of a correspondent account or a
payable-through account by a foreign financial institution that the
President determines knowingly, on or after the date that is 180 days
after the date of the enactment of the Iran Ballistic Missile Sanctions
Act of 2016, conducts or facilitates a significant financial
transaction for a person subject to blocking of property and interests
in property under subsection (b).
``SEC. 233. BLOCKING OF PROPERTY OF PERSONS AFFILIATED WITH CERTAIN
IRANIAN ENTITIES.
``(a) Blocking of Property.--
``(1) In general.--The President shall, in accordance with
the International Emergency Economic Powers Act (50 U.S.C. 1701
et seq.), block and prohibit all transactions in all property
and interests in property of any person described in paragraph
(3) if such property and interests in property are in the
United States, come within the United States, or are or come
within the possession or control of a United States person.
``(2) Inapplicability of national emergency requirement.--
The requirements under section 202 of the International
Emergency Economic Powers Act (50 U.S.C. 1701) shall not apply
for purposes of this subsection.
``(3) Persons described.--A person described in this
paragraph is--
``(A) an entity that is owned, directly or
indirectly, by a 25 percent or greater interest--
``(i) by the Aerospace Industries
Organization, the Shahid Hemmat Industrial
Group, the Shahid Bakeri Industrial Group, or
any agent or affiliate of such organization or
group; or
``(ii) collectively by a group of
individuals that hold an interest in the
Aerospace Industries Organization, the Shahid
Hemmat Industrial Group, the Shahid Bakeri
Industrial Group, or any agent or affiliate of
such organization or group, even if none of
those individuals hold a 25 percent or greater
interest in the entity;
``(B) a person that controls, manages, or directs
an entity described in subparagraph (A); or
``(C) an individual who is on the board of
directors of an entity described in subparagraph (A).
``(b) Facilitation of Certain Transactions.--The President shall
prohibit the opening, and prohibit or impose strict conditions on the
maintaining, in the United States of a correspondent account or a
payable-through account by a foreign financial institution that the
President determines knowingly, on or after the date that is 180 days
after the date of the enactment of the Iran Ballistic Missile Sanctions
Act of 2016, conducts or facilitates a significant financial
transaction for a person subject to blocking of property and interests
in property under subsection (a).
``(c) Iran Missile Proliferation Watch List.--
``(1) In general.--Not later than 90 days after the date of
the enactment of the Iran Ballistic Missile Sanctions Act of
2016, and not less frequently than annually thereafter, the
Secretary of the Treasury shall submit to the appropriate
committees of Congress and publish in the Federal Register a
list of--
``(A) each entity in which the Aerospace Industries
Organization, the Shahid Hemmat Industrial Group, the
Shahid Bakeri Industrial Group, or any agent or
affiliate of such organization or group has an
ownership interest of more than 0 percent and less than
25 percent;
``(B) each entity in which the Aerospace Industries
Organization, the Shahid Hemmat Industrial Group, the
Shahid Bakeri Industrial Group, or any agent or
affiliate of such organization or group does not have
an ownership interest but maintains a presence on the
board of directors of the entity or otherwise
influences the actions, policies, or personnel
decisions of the entity; and
``(C) each person that controls, manages, or
directs an entity described in subparagraph (A) or (B).
``(2) Reference.--The list required by paragraph (1) may be
referred to as the `Iran Missile Proliferation Watch List'.
``(d) Comptroller General Report.--
``(1) In general.--The Comptroller General of the United
States shall--
``(A) conduct a review of each list required by
subsection (c)(1); and
``(B) not later than 60 days after each such list
is submitted to the appropriate committees of Congress
under that subsection, submit to the appropriate
committees of Congress a report on the review conducted
under subparagraph (A) that includes a list of persons
not included in that list that qualify for inclusion in
that list, as determined by the Comptroller General.
``(2) Consultations.--In preparing the report required by
paragraph (1)(B), the Comptroller General shall consult with
nongovernmental organizations.
``SEC. 234. IMPOSITION OF SANCTIONS WITH RESPECT TO CERTAIN PERSONS
INVOLVED IN BALLISTIC MISSILE ACTIVITIES.
``(a) Certification.--Not later than 120 days after the date of the
enactment of the Iran Ballistic Missile Sanctions Act of 2016, and not
less frequently than once every 180 days thereafter, the President
shall submit to the appropriate committees of Congress a certification
that each person listed in an annex of United Nations Security Council
Resolution 1737 (2006), 1747 (2007), or 1929 (2010) is not directly or
indirectly facilitating, supporting, or involved with the development
of or transfer to Iran of ballistic missiles or technology, parts,
components, or technology information relating to ballistic missiles.
``(b) Blocking of Property.--
``(1) In general.--If the President is unable to make a
certification under subsection (a) with respect to a person and
the person is not currently subject to sanctions with respect
to Iran under any other provision of law, the President shall,
not later than 15 days after that certification would have been
required under that subsection--
``(A) in accordance with the International
Emergency Economic Powers Act (50 U.S.C. 1701 et seq.),
block and prohibit all transactions in all property and
interests in property of that person if such property
and interests in property are in the United States,
come within the United States, or are or come within
the possession or control of a United States person;
and
``(B) publish in the Federal Register a report
describing the reason why the President was unable to
make a certification with respect to that person.
``(2) Inapplicability of national emergency requirement.--
The requirements under section 202 of the International
Emergency Economic Powers Act (50 U.S.C. 1701) shall not apply
for purposes of this subsection.
``(c) Exclusion From United States.--
``(1) In general.--Except as provided in paragraph (2), the
Secretary of State shall deny a visa to, and the Secretary of
Homeland Security shall exclude from the United States, any
alien subject to blocking of property and interests in property
under subsection (b).
``(2) Compliance with united nations headquarters
agreement.--Paragraph (1) shall not apply to the head of state
of Iran, or necessary staff of that head of state, if admission
to the United States is necessary to permit the United States
to comply with the Agreement regarding the Headquarters of the
United Nations, signed at Lake Success June 26, 1947, and
entered into force November 21, 1947, between the United
Nations and the United States.
``(d) Facilitation of Certain Transactions.--The President shall
prohibit the opening, and prohibit or impose strict conditions on the
maintaining, in the United States of a correspondent account or a
payable-through account by a foreign financial institution that the
President determines knowingly, on or after the date that is 180 days
after the date of the enactment of the Iran Ballistic Missile Sanctions
Act of 2016, conducts or facilitates a significant financial
transaction for a person subject to blocking of property and interests
in property under subsection (b).
``SEC. 235. IMPOSITION OF SANCTIONS WITH RESPECT TO CERTAIN SECTORS OF
IRAN THAT SUPPORT THE BALLISTIC MISSILE PROGRAM OF IRAN.
``(a) List of Sectors.--
``(1) In general.--Not later than 120 days after the date
of the enactment of the Iran Ballistic Missile Sanctions Act of
2016, and not less frequently than once every 180 days
thereafter, the President shall submit to the appropriate
committees of Congress and publish in the Federal Register a
list of the sectors of the economy of Iran that are directly or
indirectly facilitating, supporting, or involved with the
development of or transfer to Iran of ballistic missiles or
technology, parts, components, or technology information
relating to ballistic missiles.
``(2) Certain sectors.--
``(A) In general.--Not later than 120 days after
the date of enactment of the Iran Ballistic Missile
Sanctions Act of 2016, the President shall submit to
the appropriate committees of Congress a determination
as to whether each of the automotive, chemical,
computer science, construction, electronic, energy,
metallurgy, mining, petrochemical, research (including
universities and research institutions), and
telecommunications sectors of Iran meet the criteria
specified in paragraph (1).
``(B) Inclusion in initial list.--If the President
determines under subparagraph (A) that the sectors of
the economy of Iran specified in such subparagraph meet
the criteria specified in paragraph (1), that sector
shall be included in the initial list submitted and
published under that paragraph.
``(b) Sanctions With Respect to Specified Sectors of Iran.--
``(1) Blocking of property.--
``(A) In general.--The President shall, in
accordance with the International Emergency Economic
Powers Act (50 U.S.C. 1701 et seq.), block and prohibit
all transactions in all property and interests in
property of any person described in paragraph (4) if
such property and interests in property are in the
United States, come within the United States, or are or
come within the possession or control of a United
States person.
``(B) Inapplicability of national emergency
requirement.--The requirements under section 202 of the
International Emergency Economic Powers Act (50 U.S.C.
1701) shall not apply for purposes of this paragraph.
``(2) Exclusion from united states.--
``(A) In general.--Except as provided in
subparagraph (B), the Secretary of State shall deny a
visa to, and the Secretary of Homeland Security shall
exclude from the United States, any alien that is a
person described in paragraph (4).
``(B) Compliance with united nations headquarters
agreement.--Subparagraph (A) shall not apply to the
head of state of Iran, or necessary staff of that head
of state, if admission to the United States is
necessary to permit the United States to comply with
the Agreement regarding the Headquarters of the United
Nations, signed at Lake Success June 26, 1947, and
entered into force November 21, 1947, between the
United Nations and the United States.
``(3) Facilitation of certain transactions.--Except as
provided in this section, the President shall prohibit the
opening, and prohibit or impose strict conditions on the
maintaining, in the United States of a correspondent account or
a payable-through account by a foreign financial institution
that the President determines knowingly, on or after the date
that is 180 days after the date of the enactment of the Iran
Ballistic Missile Sanctions Act of 2016, conducts or
facilitates a significant financial transaction for a person
described in paragraph (4).
``(4) Persons described.--A person is described in this
paragraph if the President determines that the person, on or
after the date that is 180 days after the date of the enactment
of the Iran Ballistic Missile Sanctions Act of 2016--
``(A) operates in a sector of the economy of Iran
included in the most recent list published by the
President under subsection (a);
``(B) knowingly provides significant financial,
material, technological, or other support to, or goods
or services in support of, any activity or transaction
on behalf of or for the benefit of a person described
in subparagraph (A); or
``(C) is owned or controlled by a person described
in subparagraph (A).
``(c) Humanitarian Exception.--The President may not impose
sanctions under this section with respect to any person for conducting
or facilitating a transaction for the sale of agricultural commodities,
food, medicine, or medical devices to Iran or for the provision of
humanitarian assistance to the people of Iran.
``SEC. 236. IDENTIFICATION OF FOREIGN PERSONS THAT SUPPORT THE
BALLISTIC MISSILE PROGRAM OF IRAN IN CERTAIN SECTORS OF
IRAN.
``(a) In General.--Not later than 120 days after the date of the
enactment of the Iran Ballistic Missile Sanctions Act of 2016, and not
less frequently than annually thereafter, the President shall submit to
the appropriate committees of Congress and publish in the Federal
Register a list of all foreign persons that have, based on credible
information, directly or indirectly facilitated, supported, or been
involved with the development of ballistic missiles or technology,
parts, components, or technology information related to ballistic
missiles in the following sectors of the economy of Iran during the
period specified in subsection (b):
``(1) Automotive.
``(2) Chemical.
``(3) Computer Science.
``(4) Construction.
``(5) Electronic.
``(6) Energy.
``(7) Metallurgy.
``(8) Mining.
``(9) Petrochemical.
``(10) Research (including universities and research
institutions).
``(11) Telecommunications.
``(12) Any other sector of the economy of Iran identified
under section 235(a).
``(b) Period Specified.--The period specified in this subsection
is--
``(1) with respect to the first list submitted under
subsection (a), the period beginning on the date of the
enactment of the Iran Ballistic Missile Sanctions Act of 2016
and ending on the date that is 120 days after such date of
enactment; and
``(2) with respect to each subsequent list submitted under
such subsection, the one-year period preceding the submission
of the list.
``(c) Comptroller General Report.--
``(1) In general.--With respect to each list submitted
under subsection (a), not later than 120 days after the list is
submitted under that subsection, the Comptroller General of the
United States shall submit to the appropriate committees of
Congress--
``(A) an assessment of the processes followed by
the President in preparing the list;
``(B) an assessment of the foreign persons included
in the list; and
``(C) a list of persons not included in the list
that qualify for inclusion in the list, as determined
by the Comptroller General.
``(2) Consultations.--In preparing the report required by
paragraph (1), the Comptroller General shall consult with
nongovernmental organizations.
``(d) Credible Information Defined.--In this section, the term
`credible information' has the meaning given that term in section 14 of
the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701
note).''.
(b) Clerical Amendment.--The table of contents for the Iran Threat
Reduction and Syria Human Rights Act of 2012 is amended by inserting
after the item relating to section 224 the following:
``Subtitle C--Measures Relating to Ballistic Missile Program of Iran
``Sec. 231. Definitions.
``Sec. 232. Imposition of sanctions with respect to persons that
support the ballistic missile program of
Iran.
``Sec. 233. Blocking of property of persons affiliated with certain
Iranian entities.
``Sec. 234. Imposition of sanctions with respect to certain persons
involved in ballistic missile activities.
``Sec. 235. Imposition of sanctions with respect to certain sectors of
Iran that support the ballistic missile
program of Iran.
``Sec. 236. Identification of foreign persons that support the
ballistic missile program of Iran in
certain sectors of Iran.''.
SEC. 7. EXPANSION OF MANDATORY SANCTIONS WITH RESPECT TO FINANCIAL
INSTITUTIONS THAT ENGAGE IN CERTAIN TRANSACTIONS RELATING
TO BALLISTIC MISSILE CAPABILITIES OF IRAN.
Section 104 of the Comprehensive Iran Sanctions, Accountability,
and Divestment Act of 2010 (22 U.S.C. 8513) is amended--
(1) in subsection (c)(2)--
(A) in subparagraph (A)--
(i) in clause (i), by striking ``; or'' and
inserting a semicolon;
(ii) by redesignating clause (ii) as clause
(iii); and
(iii) by inserting after clause (i) the
following:
``(ii) to acquire or develop ballistic
missiles and capabilities and launch technology
relating to ballistic missiles; or''; and
(B) in subparagraph (E)(ii)--
(i) in subclause (I), by striking ``; or''
and inserting a semicolon;
(ii) by redesignating subclause (II) as
subclause (III); and
(iii) by inserting after subclause (I) the
following:
``(II) Iran's development of
ballistic missiles and capabilities and
launch technology relating to ballistic
missiles; or''; and
(2) in subsection (f)--
(A) by redesignating paragraphs (1) and (2) as
subparagraphs (A) and (B), respectively, and moving
those subparagraphs, as so redesignated, two ems to the
right;
(B) by striking ``Waiver.--The'' and inserting
``Waiver.--
``(1) In general.--Except as provided in paragraph (2),
the''; and
(C) by adding at the end the following:
``(2) Exception.--The Secretary of the Treasury may not
waive under paragraph (1) the application of a prohibition or
condition imposed with respect to an activity described in
subparagraph (A)(ii) or (E)(ii)(II) of subsection (c)(2).''.
SEC. 8. DISCLOSURE TO THE SECURITIES AND EXCHANGE COMMISSION OF
ACTIVITIES WITH CERTAIN SECTORS OF IRAN THAT SUPPORT THE
BALLISTIC MISSILE PROGRAM OF IRAN.
(a) In General.--Section 13(r)(1) of the Securities Exchange Act of
1934 (15 U.S.C. 78m(r)(1)) is amended--
(1) in subparagraph (C), by striking ``; or'' and inserting
a semicolon;
(2) by redesignating subparagraph (D) as subparagraph (E);
and
(3) by inserting after subparagraph (C) the following:
``(D) knowingly engaged in any activity for which
sanctions may be imposed under section 235 of the Iran
Threat Reduction and Syria Human Rights Act of 2012;''.
(b) Investigations.--Section 13(r)(5)(A) of the Securities Exchange
Act of 1934 is amended by striking ``an Executive order specified in
clause (i) or (ii) of paragraph (1)(D)'' and inserting ``section 235 of
the Iran Threat Reduction and Syria Human Rights Act of 2012, an
Executive order specified in clause (i) or (ii) of paragraph (1)(E)''.
(c) Conforming Amendment.--Section 13(r)(5) of the Securities
Exchange Act of 1934 is amended, in the matter preceding subparagraph
(A), by striking ``subparagraph (D)(iii)'' and inserting ``subparagraph
(E)(iii)''.
(d) Effective Date.--The amendments made by this section shall take
effect with respect to reports required to be filed with the Securities
and Exchange Commission after the date that is 180 days after the date
of the enactment of this Act.
SEC. 9. REGULATIONS.
Not later than 90 days after the date of the enactment of this Act,
the President shall prescribe regulations to carry out this Act and the
amendments made by this Act.
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