Text: H.R.4898 — 114th Congress (2015-2016)All Information (Except Text)

There is one version of the bill.

Text available as:

Shown Here:
Introduced in House (04/11/2016)


114th CONGRESS
2d Session
H. R. 4898


To prohibit the Department of the Treasury from issuing licenses to permit offshore dollar clearing outside of the United States financial system for transactions involving or benefitting Iran.


IN THE HOUSE OF REPRESENTATIVES

April 11, 2016

Mr. Trott introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To prohibit the Department of the Treasury from issuing licenses to permit offshore dollar clearing outside of the United States financial system for transactions involving or benefitting Iran.

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 “No Dollars for Iran Act”.

SEC. 2. Prohibition on certain licenses for offshore dollar clearing related to Iran.

The Secretary of the Treasury may not issue any license under the Iranian Transactions and Sanctions Regulations (31 C.F.R. Part 560), or under any other law, to permit a person to conduct offshore dollar clearing outside of the United States financial system for transactions involving or benefitting, directly or indirectly, the government of Iran or any Iranian person.