H.R.1638 - Iranian Leadership Asset Transparency Act115th Congress (2017-2018) |
|Sponsor:||Rep. Poliquin, Bruce [R-ME-2] (Introduced 03/20/2017)|
|Committees:||House - Financial Services; Foreign Affairs | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 115-453|
|Latest Action:||Senate - 12/14/2017 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.1638 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (03/20/2017)
Iranian Leadership Asset Transparency Act
This bill requires the Department of the Treasury, in furtherance of efforts to prevent the financing of terrorism, money laundering, or related illicit finance and to make financial institutions' required compliance with remaining sanctions more easily understood, to submit within 270 days and annually thereafter for the next two years a report regarding:
- the funds or assets held in U.S. and foreign financial institutions that are directly or indirectly controlled by specified Iranian officials;
- any equity stake such official has in an entity on Treasury's list of Specially Designated Nationals or in any other sanctioned entity;
- how such funds, assets, or equity interests were acquired and used;
- new methods used to evade anti-money laundering and related laws, including recommendations to improve techniques to combat illicit uses of the U.S. financial system by each such official.
- recommendations for revising U.S. economic sanctions against Iran to prevent Iranian officials from using funds or assets to develop and procure ballistic missile technology;
- how Treasury assesses the effectiveness of U.S. economic sanctions against Iran; and
- recommendations for improving Treasury's ability to develop and enforce additional economic sanctions against Iran if so ordered by the President.
The unclassified portion of the report shall be made available to the public and posted on Treasury's website in downloadable English, Farsi, Arabic, and Azeri versions.