H.R.3922 - Accountability for Business Choices in Iran Act111th Congress (2009-2010)
|Sponsor:||Rep. Klein, Ron [D-FL-22] (Introduced 10/23/2009)|
|Committees:||House - Oversight and Government Reform; Financial Services; Foreign Affairs|
|Latest Action:||10/23/2009 Referred to House Foreign Affairs (All Actions)|
This bill has the status Introduced
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Summary: H.R.3922 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (10/23/2009)
Accountability for Business Choices in Iran Act - Expresses the sense of Congress that: (1) Iran's illicit nuclear activities as well as development of unconventional weapons and ballistic missiles and support for international terrorism represent a serious threat to the security of the United States and its allies; (2) the United States should continue supporting diplomatic efforts in the International Atomic Energy Agency (IAEA) and the United Nations Security Council (UNSC) to end Iran's illicit nuclear activities; (3) the UNSC should take further measures beyond specified existing UNSC resolutions to tighten sanctions on Iran, including preventing new investment in Iran's energy sector as long as it fails to comply with international demands to halt its nuclear enrichment; and (4) the United States should discourage foreign banks and entities from investing in Iran's energy sector as well as seek to prohibit entities doing business with the United States from doing business with Iran.
Requires the head of each federal agency to ensure that each contract with a company for the procurement of goods and services contains a requirement for the company to certify that it is not conducting business operations in Iran. Defines "business operations" as operations that: (1) provide Iran with refined petroleum resources or technology that could enhance its ability to import or expand its domestic production of such resources; (2) invest $20 million or more in aIran's ability to develop petroleum resources; and (3) provide sensitive technology to Iran.
Authorizes a state or local government to adopt measures to prohibit them from entering into or renewing a contract for the procurement of goods or services with persons included on the List of Parties Excluded from Federal Procurement and Nonprocurement Programs.
Terminates this Act 30 days after: (1) the President certifies to Congress that Iran has ceased support for acts of international terrorism and is no longer considered a state-sponsor of terrorism; and (2) Iran has permanently ceased the pursuit, acquisition, and development of nuclear, biological, and chemical weapons and missiles.