[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1638 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 335
115th CONGRESS
  1st Session
                                H. R. 1638

                      [Report No. 115-453, Part I]

  To require the Secretary of the Treasury to submit a report to the 
  appropriate congressional committees on the estimated total assets 
under direct or indirect control by certain senior Iranian leaders and 
                 other figures, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 20, 2017

 Mr. Poliquin introduced the following bill; which was referred to the 
 Committee on Financial Services, and in addition to the Committee on 
  Foreign Affairs, 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

                            December 7, 2017

  Reported from the Committee on Financial Services with an amendment
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]

                            December 7, 2017

The Committee on Foreign Affairs discharged; committed to the Committee 
 of the Whole House on the State of the Union and ordered to be printed
 [For text of introduced bill, see copy of bill as introduced on March 
                               20, 2017]


_______________________________________________________________________

                                 A BILL


 
  To require the Secretary of the Treasury to submit a report to the 
  appropriate congressional committees on the estimated total assets 
under direct or indirect control by certain senior Iranian leaders and 
                 other figures, 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 ``Iranian Leadership Asset 
Transparency Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) Iran is characterized by high levels of official and 
        institutional corruption, and substantial involvement by Iran's 
        security forces, particularly the Islamic Revolutionary Guard 
        Corps (IRGC), in the economy.
            (2) Many members of Iran's senior political and military 
        leadership have acquired significant personal and institutional 
        wealth by using their positions to secure control of 
        significant portions of Iran's national economy.
            (3) Sanctions relief provided through the Joint 
        Comprehensive Plan of Action has resulted in the removal of 
        many Iranian entities that are tied to governmental corruption 
        from the list of entities sanctioned by the United States.
            (4) The Department of Treasury in 2011 designated the 
        Islamic Republic of Iran's financial sector as a jurisdiction 
        of primary money laundering concern under section 311 of the 
        USA PATRIOT Act, stating ``Treasury has for the first time 
        identified the entire Iranian financial sector; including 
        Iran's Central Bank, private Iranian banks, and branches, and 
        subsidiaries of Iranian banks operating outside of Iran as 
        posing illicit finance risks for the global financial 
        system.''.
            (5) Iran continues to be listed by the Financial Action 
        Task Force (FATF) among the ``Non-Cooperative Countries or 
        Territories''--countries which it perceived to be non-
        cooperative in the global fight against terror finance and 
        money laundering.
            (6) Iran and North Korea are the only countries listed by 
        the FATF as ``Non-Cooperative Countries or Territories'' 
        against which FATF countries should take measures.
            (7) The Transparency International index of perceived 
        public corruption ranks Iran 130th out of 168 countries 
        surveyed.
            (8) The State Department identified Iran as a ``major 
        money-laundering country'' in its International Narcotics 
        Control Strategy Report (INCSR) for 2016.
            (9) The State Department currently identifies Iran, along 
        with Sudan and Syria, as a state sponsor of terrorism, ``having 
        repeatedly provided support for acts of international 
        terrorism''.
            (10) The State Department's ``Country Reports on 
        Terrorism'', published last in July 2017, noted that ``Iran 
        continued to sponsor terrorist groups around the world, 
        principally through its Islamic Revolutionary Guard Corps-Qods 
        Force (IRGC-QF). These groups included Lebanese Hizballah, 
        several Iraqi Shia militant groups, Hamas, and Palestine 
        Islamic Jihad. Iran, Hizballah, and other Shia militia 
        continued to provide support to the Asad regime, dramatically 
        bolstering its capabilities, prolonging the civil war in Syria, 
        and worsening the human rights and refugee crisis there.''.
            (11) The Iranian Government's tolerance of corruption and 
        nepotism in business limits opportunities for foreign and 
        domestic investment, particularly given the significant 
        involvement of the IRGC in many sectors of Iran's economy.
            (12) The IRGC and the leadership-controlled bonyads 
        (foundations) control an estimated one-third of Iran's total 
        economy, including large portions of Iran's telecommunications, 
        construction, and airport and port operations. These operations 
        give the IRGC and bonyads vast funds to support terrorist 
        organizations such as Hezbollah and Hamas.
            (13) By gaining control of major economic sectors, the IRGC 
        and bonyads have also served to further disadvantage the 
        average Iranian.

SEC. 3. REPORT REQUIREMENT RELATING TO ASSETS OF IRANIAN LEADERS AND 
              CERTAIN SENIOR POLITICAL FIGURES.

    (a) In General.--Not later than 270 days after the date of 
enactment of this Act, and annually thereafter (or more frequently if 
the Secretary of the Treasury determines it appropriate based on new 
information received by the Secretary) for the following 2 years, the 
Secretary of the Treasury shall, in furtherance of the Secretary's 
efforts to prevent the financing of terrorism, money laundering, or 
related illicit finance and to make financial institutions' required 
compliance with remaining sanctions more easily understood, submit a 
report to the appropriate congressional committees containing--
            (1) the estimated total funds or assets held in accounts at 
        U.S. and foreign financial institutions that are under direct 
        or indirect control by each natural person described in 
        subsection (b) and a description of such assets;
            (2) an identification of any equity stake such natural 
        person has in an entity on the Department of the Treasury's 
        list of Specially Designated Nationals or in any other 
        sanctioned entity;
            (3) a description of how such funds or assets or equity 
        interests were acquired, and how they have been used or 
        employed;
            (4) a description of any new methods or techniques used to 
        evade anti-money laundering and related laws, including 
        recommendations to improve techniques to combat illicit uses of 
        the U.S. financial system by each natural person described in 
        subsection (b);
            (5) recommendations for how U.S. economic sanctions against 
        Iran may be revised to prevent the funds or assets described 
        under this subsection from being used by the natural persons 
        described in subsection (b) to contribute to the continued 
        development, testing, and procurement of ballistic missile 
        technology by Iran;
            (6) a description of how the Department of the Treasury 
        assesses the impact and effectiveness of U.S. economic 
        sanctions programs against Iran; and
            (7) recommendations for improving the ability of the 
        Department of the Treasury to rapidly and effectively develop, 
        implement, and enforce additional economic sanctions against 
        Iran if so ordered by the President under the International 
        Emergency Economic Powers Act or other corresponding 
        legislation.
    (b) Persons Described.--The natural persons described in this 
subsection are the following:
            (1) The Supreme Leader of Iran.
            (2) The President of Iran.
            (3) Members of the Council of Guardians.
            (4) Members of the Expediency Council.
            (5) The Minister of Intelligence and Security.
            (6) The Commander and the Deputy Commander of the IRGC.
            (7) The Commander and the Deputy Commander of the IRGC 
        Ground Forces.
            (8) The Commander and the Deputy Commander of the IRGC 
        Aerospace Force.
            (9) The Commander and the Deputy Commander of the IRGC 
        Navy.
            (10) The Commander of the Basij-e-Mostaz'afin.
            (11) The Commander of the Qods Force.
            (12) The Commander in Chief of the Police Force.
            (13) The head of the IRGC Joint Staff.
            (14) The Commander of the IRGC Intelligence.
            (15) The head of the IRGC Imam Hussein University.
            (16) The Supreme Leader's Representative at the IRGC.
            (17) The Chief Executive Officer and the Chairman of the 
        IRGC Cooperative Foundation.
            (18) The Commander of the Khatam-al-Anbia Construction Head 
        Quarter.
            (19) The Chief Executive Officer of the Basij Cooperative 
        Foundation.
            (20) The head of the Political Bureau of the IRGC.
            (21) The head of the Atomic Energy Organization of Iran.
    (c) Form of Report; Public Availability.--
            (1) Form.--The report required under subsection (a) shall 
        be submitted in unclassified form but may contain a classified 
        annex.
            (2) Public availability.--The unclassified portion of such 
        report shall be made available to the public and posted on the 
        website of the Department of the Treasury--
                    (A) in English, Farsi, Arabic, and Azeri; and
                    (B) in precompressed, easily downloadable versions 
                that are made available in all appropriate formats.
    (d) Sources of Information.--In preparing a report described under 
subsection (a), the Secretary of the Treasury may use any credible 
publication, database, web-based resource, public information compiled 
by any government agency, and any information collected or compiled by 
a nongovernmental organization or other entity provided to or made 
available to the Secretary, that the Secretary finds credible.
    (e) Definitions.--For purposes of this section:
            (1) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means the Committees 
        on Financial Services and Foreign Affairs of the House of 
        Representatives and the Committees on Banking, Housing, and 
        Urban Affairs and Foreign Relations of the Senate.
            (2) Funds.--The term ``funds'' means--
                    (A) cash;
                    (B) equity;
                    (C) any other intangible asset whose value is 
                derived from a contractual claim, including bank 
                deposits, bonds, stocks, a security as defined in 
                section 2(a) of the Securities Act of 1933 (15 U.S.C. 
                77b(a)), or a security or an equity security as defined 
                in section 3(a) of the Securities Exchange Act of 1934 
                (15 U.S.C. 78c(a)); and
                    (D) anything else that the Secretary determines 
                appropriate.

SEC. 4. SENSE OF CONGRESS.

    It is the sense of Congress that in preparing the reports required 
under section 3, the Secretary of the Treasury should consider 
acquiring information from sources that--
            (1) collect and, if necessary, translate high-veracity, 
        official records; or
            (2) provide search and analysis tools that enable law 
        enforcement to have new insights into commercial and financial 
        relationships.
                                                 Union Calendar No. 335

115th CONGRESS

  1st Session

                               H. R. 1638

                      [Report No. 115-453, Part I]

_______________________________________________________________________

                                 A BILL

  To require the Secretary of the Treasury to submit a report to the 
  appropriate congressional committees on the estimated total assets 
under direct or indirect control by certain senior Iranian leaders and 
                 other figures, and for other purposes.

_______________________________________________________________________

                            December 7, 2017

  Reported from the Committee on Financial Services with an amendment

                            December 7, 2017

The Committee on Foreign Affairs discharged; committed to the Committee 
 of the Whole House on the State of the Union and ordered to be printed