H.R.1357 - To require divestiture of current investments in Iran, to prohibit future investments in Iran, and to require disclosure to investors of information relating to such investments.110th Congress (2007-2008)
|Sponsor:||Rep. Ros-Lehtinen, Ileana [R-FL-18] (Introduced 03/06/2007)|
|Committees:||House - Financial Services; Oversight and Government Reform; Education and Labor|
|Latest Action:||07/30/2007 Sponsor introductory remarks on measure.|
This bill has the status Introduced
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: H.R.1357 — 110th Congress (2007-2008)All Bill Information (Except Text)
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.