Summary: H.R.1357 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.1357. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/06/2007)

Directs the President to publish in the Federal Register a list of all U.S. and foreign entities that have invested more than $20 million in Iran's energy sector (including an itemization of individual investments of such entities) between August 5, 1996, and the date of such publication.

Requires managers of federal and private pension plans or thrift savings plans and managers of mutual funds sold or distributed in the United States to: (1) notify investors that their funds are invested in entities included on the list; and (2) take immediate steps, upon notification or publication of such list, to divest all investments of such plans or funds in such entities.

Prohibits, upon such publication, future investment in any entity included on the list by managers of such plans or funds.

Requires the Office of Global Security Risks within the Division of Corporation Finance of the U.S. Securities and Exchange Commission to issue a report on the entities identified on the list, including a determination of whether or not: (1) their operations in Iran constitute a risk to the United States; and (2) such entities face U.S. litigation, sanctions, or similar circumstances that may have a material adverse impact on their financial conditions or operations.

Terminates this Act 30 days after which: (1) the President certifies to Congress that Iran has ceased support for international terrorism; and (2) Iran has permanently ceased acquisition and development of weapons of mass destruction.