[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3049 Introduced in Senate (IS)]

<DOC>






118th CONGRESS
  1st Session
                                S. 3049

To freeze $6,000,000,000 of Iranian funds held in Qatar, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 17, 2023

Mr. Scott of South Carolina (for himself, Mr. Crapo, Mr. Barrasso, Mr. 
Cramer, Mr. Hoeven, Mr. Vance, Ms. Lummis, Mr. Ricketts, Mrs. Fischer, 
 Mr. Hagerty, Mr. Scott of Florida, Mrs. Britt, Mr. Tillis, Mr. Rubio, 
 Mrs. Capito, Mr. Cotton, Mr. Cornyn, Mrs. Blackburn, Mr. Daines, Mr. 
 Graham, Mr. Braun, Mr. Cassidy, Ms. Sinema, Mr. Rounds, Mr. Lankford, 
Ms. Collins, and Mr. Manchin) introduced the following bill; which was 
read twice and referred to the Committee on Banking, Housing, and Urban 
                                Affairs

_______________________________________________________________________

                                 A BILL


 
To freeze $6,000,000,000 of Iranian funds held in Qatar, 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 ``Revoke Iranian Funding Act of 
2023''.

SEC. 2. SENSE OF CONGRESS.

    It is the sense of Congress that--
            (1) Iran, as documented by the report of the Department of 
        State entitled, ``Country Reports on Terrorism 2021'', is the 
        leading state sponsor of terrorism in the world;
            (2) Hamas has repeatedly carried out acts of terror against 
        Israel, citizens of the United States, and innocent civilians, 
        including the October 2023 assault against Israel that resulted 
        in the brutal murder of innocent men, women, and children;
            (3) given the fungible nature of money, funds released to 
        Iran for so-called humanitarian purposes cannot be reliably 
        prevented from funding future terrorist attacks, especially 
        when the Government of Iran has explicitly acknowledged their 
        willingness to use any and all monetary gains to support the 
        ideology of their regime; and
            (4) in the face of this reality, the United States 
        Government should consider every available tool to immediately 
        restrict access by Iran to any and all funds that are used to 
        finance international terrorism.

SEC. 3. RESCISSION OF LICENSE AUTHORITY WITH RESPECT TO IRANIAN 
              ACCOUNTS IN QATAR.

    Effective on the date of the enactment of this Act--
            (1) the Secretary of the Treasury shall rescind any general 
        license, specific license, action letter, comfort letter, 
        statement of licensing policy, answers to frequently asked 
        questions, or other exemption from the imposition of sanctions 
        under a covered provision of law purportedly for humanitarian 
        purposes, such as the $6,000,000,000 transferred from South 
        Korea in September 2023, with respect to accounts held by the 
        Government of Iran or a covered person in Qatar issued before 
        such date of enactment; and
            (2) any authority provided to the Secretary of the Treasury 
        to issue, purportedly for humanitarian purposes, a general 
        license, specific license, action letter, comfort letter, 
        statement of licensing policy, answers to frequently asked 
        questions, or other exemption from the imposition of sanctions 
        under a covered provision of law with respect to accounts held 
        by the Government or Iran or a covered person in Qatar is 
        rescinded for the one-year period following the date of the 
        enactment of this Act.

SEC. 4. RESCISSION OF WAIVER DETERMINATION ISSUED ON SEPTEMBER 8, 2023.

    Effective on the date of the enactment of this Act, the waiver 
determination issued by the Secretary of State on September 8, 2023, 
under covered waiver authority and submitted to Congress on September 
11, 2023, is rescinded.

SEC. 5. REPORT AND BRIEFING ON IRANIAN ASSETS AND LICENSES.

    (a) In General.--Not later than 30 days after the date of the 
enactment of this Act, the Secretary of the Treasury shall submit to 
the appropriate congressional committees a report and provide to the 
appropriate congressional committees a briefing--
            (1) identifying--
                    (A) all assets of the Government of Iran or covered 
                persons valued at more than $5,000,000 and blocked by 
                the United States pursuant to any provision of law; and
                    (B) for each such asset--
                            (i) the country in which the asset is held;
                            (ii) the financial institution in which the 
                        asset is held; and
                            (iii) the approximate value of the asset; 
                        and
            (2) setting forth a list of all general licenses, specific 
        licenses, action letters, comfort letters, statements of 
        licensing policy, answers to frequently asked questions, or 
        other exemptions issued by the Secretary with respect to 
        sanctions relating to Iran that are in effect as of the date of 
        the report.
    (b) Form.--
            (1) Assets.--The report and briefing required by subsection 
        (a)(1) shall be submitted or provided, as the case may be, in 
        unclassified form.
            (2) Exemptions.--The report and briefing required by 
        subsection (a)(2) shall be submitted or provided, as the case 
        may be, in classified form.

SEC. 6. DEFINITIONS.

    In this Act:
            (1) Appropriate congressional committees.--The term 
        ``appropriate congressional committees'' means--
                    (A) the Committee on Banking, Housing, and Urban 
                Affairs of the Senate; and
                    (B) the Committee on Financial Services of the 
                House of Representatives.
            (2) Covered person.--The term ``covered person'' means--
                    (A) an individual who is a citizen or national of 
                Iran and is acting on behalf of the Government of Iran;
                    (B) an entity organized under the laws of Iran or 
                otherwise subject to the jurisdiction of the Government 
                of Iran; and
                    (C) an individual or entity that provides material, 
                tactical, operational, developmental, or financial 
                support to--
                            (i) the Islamic Revolutionary Guard Corps;
                            (ii) any agency or instrumentality of the 
                        Armed Forces of Iran;
                            (iii) any agency or instrumentality related 
                        to the nuclear program of Iran; or
                            (iv) any organization designated as a 
                        foreign terrorist organization under section 
                        219 of the Immigration and Nationality Act (8 
                        U.S.C. 1189), including Hamas, Hezbollah, 
                        Palestinian Islamic Jihad, al-Qa'ida, and al-
                        Shabaab.
            (3) Covered provision of law.--The term ``covered provision 
        of law'' means--
                    (A) section 1245 of the National Defense 
                Authorization Act for Fiscal Year 2012 (22 U.S.C. 
                8513a); or
                    (B) section 1244 or 1247 of the Iran Freedom and 
                Counter-Proliferation Act of 2012 (22 U.S.C. 8803 and 
                8806).
            (4) Covered waiver authority.--The term ``covered waiver 
        authority'' means the authority to issue a waiver of the 
        requirement to impose sanctions under--
                    (A) section 1245(d)(5) of the National Defense 
                Authorization Act for Fiscal Year 2012 (22 U.S.C. 
                8513a(d)(5)); or
                    (B) section 1244(i) or 1247(f) of the Iran Freedom 
                and Counter-Proliferation Act of 2012 (22 U.S.C. 
                8803(i) and 8806(f)).
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