No U.S. Financing for Iran Act
TITLE I--IRAN FINANCING PROHIBITION
(Sec. 101) This bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.
(Sec. 102) Any transaction authorized by Treasury before enactment of this bill is revoked.
TITLE II--NO EX-IM ASSISTANCE FOR TERRORISM
No Ex-Im Assistance for Terrorism Act
(Sec. 202) This bill amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, extending credit, or participating in the extension of credit in connection with the export of U.S. goods or services sought by:
The Bank must cancel approved financing if it finds that such financing has facilitated the export, sale, or lease of an aircraft to the Government of Iran or a related entity and must seek immediate recovery of any amount it has provided in connection with the transaction.
TITLE III--SUNSET
(Sec. 301) This bill shall cease to be effective 30 days after the President certifies to Congress that the Government of Iran has ceased support for acts of international terrorism.
[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5711 Introduced in House (IH)]
<DOC>
114th CONGRESS
2d Session
H. R. 5711
To prohibit the Secretary of the Treasury from authorizing certain
transactions by a U.S. financial institution in connection with the
export or re-export of a commercial passenger aircraft to the Islamic
Republic of Iran.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 11, 2016
Mr. Huizenga of Michigan (for himself and Mr. Sherman) introduced the
following bill; which was referred to the Committee on Financial
Services
_______________________________________________________________________
A BILL
To prohibit the Secretary of the Treasury from authorizing certain
transactions by a U.S. financial institution in connection with the
export or re-export of a commercial passenger aircraft to the Islamic
Republic of Iran.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. PROHIBITION.
The Secretary of the Treasury may not authorize a transaction by a
U.S. financial institution (as defined under section 561.309 of title
31, Code of Federal Regulations) that is ordinarily incident to the
export or re-export of a commercial passenger aircraft to the Islamic
Republic of Iran.
<all>
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 21.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-810.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-810.
Placed on the Union Calendar, Calendar No. 634.
Rules Committee Resolution H. Res. 921 Reported to House. The rule provides for one hour of general debate on H.R. 5711 and H.R. 5982.
ORDER OF PROCEDURE - Mr. Huizenga (MI) asked unanimous consent that the question of adopting a motion to recommit on H.R. 5711 be subject to postponement as though under Clause 8 of Rule 20. Agreed to without objection.
Considered under the provisions of rule H. Res. 921. (consideration: CR H6255-6265; text of measure as reported in House: CR H6255-6256)
The rule provides for one hour of general debate on H.R. 5711 and H.R. 5982.
DEBATE - The House proceeded with one hour of debate on H.R. 5711.
DEBATE - Pursuant to the provisions of H.Res. 921, the House proceeded with 10 minutes of debate on the Huizenga (MI) amendment.
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Mr. Swalwell (CA) moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H6264; text: CR H6264)
DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add a section to prohibit the Secretary of the Treasury from authorizing a transaction described under section 101 by a U.S. financial institution if such institution is engaged in business with a foreign entity that has been found to have engaged in or authorized cyber attacks targeting any election held in the United States.
POSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit with instructions, the Chair put the question on adopting the motion and by voice vote, announced that the nays had prevailed. Mr. Swalwell (CA) demanded the yeas and nays, and pursuant to a previous order of the House, the Chair postponed further proceedings on the motion to recommit with instructions until a time to be announced.
The Chair announced that the unfinished business and pursuant to a previous order of the House, the question was on adoption of a motion to recommit with instructions, which had been debated earlier and on which further proceedings had been postponed.
Considered as unfinished business. (consideration: CR H6288-6289)
On motion to recommit with instructions Failed by the Yeas and Nays: 181 - 235 (Roll no. 586). (consideration: CR H6288-6289)
Roll Call #586 (House)Passed/agreed to in House: On passage Passed by the Yeas and Nays: 243 - 174 (Roll no. 587).
Roll Call #587 (House)On passage Passed by the Yeas and Nays: 243 - 174 (Roll no. 587).
Roll Call #587 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.