Stop U.S. Support for State Sponsors of Terrorism Act

Stop U.S. Support for State Sponsors of Terrorism Act

(Sec. 2) This bill prohibits the Department of the Treasury from issuing a license for the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.

(Sec. 3) Treasury shall submit an annual report to Congress:

• stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft or aircraft spare parts to Iran by a non-U.S. manufacturer, and whether any such involvement is with respect to such aircraft or spare parts comprising 10% or more U.S. content; and
• containing a description of the risks related to repayment, money laundering, and the financing of terrorism faced by U.S. financial institutions that are involved in such transactions.

(Sec. 4) The Export-Import Bank shall report annually to Congress on the use of Bank assistance for such transactions.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5729 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 5729

To prohibit the Secretary of the Treasury from issuing certain licenses 
 in connection with the export or re-export of a commercial passenger 
aircraft to the Islamic Republic of Iran, to require annual reports by 
 the Secretary of the Treasury and the Export-Import Bank on financing 
  issues related to the sale or lease of such a commercial passenger 
 aircraft or spare parts for such an aircraft, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 12, 2016

Mr. Pittenger introduced the following bill; which was referred to the 
   Committee on Foreign Affairs, and in addition to the Committee on 
 Financial Services, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
To prohibit the Secretary of the Treasury from issuing certain licenses 
 in connection with the export or re-export of a commercial passenger 
aircraft to the Islamic Republic of Iran, to require annual reports by 
 the Secretary of the Treasury and the Export-Import Bank on financing 
  issues related to the sale or lease of such a commercial passenger 
 aircraft or spare parts for such an aircraft, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXPORT PROHIBITION.

    The Secretary of the Treasury may not issue a license for the 
export or re-export of a commercial passenger aircraft to the Islamic 
Republic of Iran.

SEC. 2. TREASURY REPORT ON FINANCING.

    The Secretary of the Treasury shall issue an annual report to the 
Committees on Financial Services and Foreign Affairs of the House of 
Representatives and the Committees on Banking, Housing, and Urban 
Affairs and Foreign Relations of the Senate--
            (1) stating whether any U.S. financial institution is 
        involved with the sale or lease of commercial passenger 
        aircraft or spare parts for such aircraft to the Islamic 
        Republic of Iran by a non-U.S. manufacturer, and whether any 
        such involvement is with respect to a commercial passenger 
        aircraft or spare parts comprising 10 percent or more U.S. 
        content; and
            (2) containing a description of the risks related to 
        repayment, money laundering, and the financing of terrorism 
        faced by U.S. financial institutions if they were to be 
        involved in the sale or lease of a commercial passenger 
        aircraft to the Islamic Republic of Iran.

SEC. 3. EXPORT-IMPORT BANK REPORT.

    The Export-Import Bank shall issue an annual report to the 
Committees on Financial Services and Foreign Affairs of the House of 
Representatives and the Committees on Banking, Housing, and Urban 
Affairs and Foreign Relations of the Senate on the Bank's assistance 
for exports that may be used in connection with the sale or lease of 
passenger aircraft and spare parts for such aircraft to the Islamic 
Republic of Iran by a non-U.S. manufacturer, and whether any such 
assistance for exports may be used in connection with a commercial 
passenger aircraft or spare parts comprising 10 percent or more U.S. 
content
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