Iranian Leadership Asset Transparency Act
(Sec. 3) This bill requires the Department of the Treasury, in furtherance of efforts to prevent terrorism financing, money laundering, or illicit finance and to make financial institutions' sanctions compliance more easily understood, to report to Congress within 270 days and annually thereafter for the next two years regarding:
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.
(Sec. 4) It is the sense of Congress that in preparing the reports pursuant to this bill Treasury should consider acquiring information from sources that: (1) collect high-veracity official records; or (2) provide search and analysis tools that enable law enforcement to have new insights into commercial and financial relationships.
[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1638 Introduced in House (IH)]
<DOC>
115th CONGRESS
1st Session
H. R. 1638
To require the Secretary of the Treasury to submit a report to the
appropriate congressional committees on the estimated total assets
under direct or indirect control by certain senior Iranian leaders and
other figures, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 20, 2017
Mr. Poliquin introduced the following bill; which was referred to the
Committee on Financial Services, and in addition to the Committee on
Foreign Affairs, 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 require the Secretary of the Treasury to submit a report to the
appropriate congressional committees on the estimated total assets
under direct or indirect control by certain senior Iranian leaders and
other figures, 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. SHORT TITLE.
This Act may be cited as the ``Iranian Leadership Asset
Transparency Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) Iran is characterized by high levels of official and
institutional corruption, and substantial involvement by Iran's
security forces, particularly the Islamic Revolutionary Guard
Corps (IRGC), in the economy.
(2) Many members of Iran's senior political and military
leadership have acquired significant personal and institutional
wealth by using their positions to secure control of
significant portions of Iran's national economy.
(3) Sanctions relief provided through the Joint
Comprehensive Plan of Action has resulted in the removal of
many Iranian entities that are tied to governmental corruption
from the list of entities sanctioned by the United States.
(4) The Department of Treasury in 2011 designated the
Islamic Republic of Iran's financial sector as a jurisdiction
of primary money laundering concern under section 311 of the
USA PATRIOT Act, stating ``Treasury has for the first time
identified the entire Iranian financial sector; including
Iran's Central Bank, private Iranian banks, and branches, and
subsidiaries of Iranian banks operating outside of Iran as
posing illicit finance risks for the global financial
system.''.
(5) Iran continues to be listed by the Financial Action
Task Force (FATF) among the ``Non-Cooperative Countries or
Territories''--countries which it perceived to be non-
cooperative in the global fight against terror finance and
money laundering.
(6) Iran and North Korea are the only countries listed by
the FATF as ``Non-Cooperative Countries or Territories''
against which FATF countries should take measures.
(7) The Transparency International index of perceived
public corruption ranks Iran 130th out of 168 countries
surveyed.
(8) The State Department identified Iran as a country/
jurisdiction of ``primary concern'' for money laundering in its
2014 International Narcotics Control Strategy Report (INCSR).
(9) The State Department currently identifies Iran, along
with Sudan and Syria, as a state sponsor of terrorism, ``having
repeatedly provided support for acts of international
terrorism''.
(10) The State Department's ``Country Reports on
Terrorism'', published last in June 2015 noted that ``Iran
continued to sponsor terrorist groups around the world,
principally through its Islamic Revolutionary Guard Corps-Qods
Force (IRGC-QF). These groups included Lebanese Hizballah,
several Iraqi Shia militant groups, Hamas, and Palestine
Islamic Jihad. Iran, Hizballah, and other Shia militia
continued to provide support to the Asad regime, dramatically
bolstering its capabilities, prolonging the civil war in Syria,
and worsening the human rights and refugee crisis there.''.
(11) The Iranian Government's tolerance of corruption and
nepotism in business limits opportunities for foreign and
domestic investment, particularly given the significant
involvement of the IRGC in many sectors of Iran's economy.
(12) The IRGC and the leadership-controlled bonyads
(foundations) control an estimated one-third of Iran's total
economy, including large portions of Iran's telecommunications,
construction, and airport and port operations. These operations
give the IRGC and bonyads vast funds to support terrorist
organizations such as Hezbollah and Hamas.
(13) By gaining control of major economic sectors, the IRGC
and bonyads have also served to further disadvantage the
average Iranian.
SEC. 3. REPORT REQUIREMENT RELATING TO ASSETS OF IRANIAN LEADERS AND
CERTAIN SENIOR POLITICAL FIGURES.
(a) In General.--Not later than 270 days after the date of
enactment of this Act, and annually thereafter (or more frequently if
the Secretary of the Treasury determines it appropriate based on new
information received by the Secretary) for the following 2 years, the
Secretary of the Treasury shall, in furtherance of the Secretary's
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, submit a
report to the appropriate congressional committees containing--
(1) the estimated total funds or assets held in accounts at
U.S. and foreign financial institutions that are under direct
or indirect control by each natural person described in
subsection (b) and a description of such assets;
(2) an identification of any equity stake such natural
person has in an entity on the Department of the Treasury's
list of Specially Designated Nationals or in any other
sanctioned entity;
(3) a description of how such funds or assets or equity
interests were acquired, and how they have been used or
employed;
(4) a description of any new methods or techniques 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 natural person described in
subsection (b);
(5) recommendations for how U.S. economic sanctions against
Iran may be revised to prevent the funds or assets described
under this subsection from being used by the natural persons
described in subsection (b) to contribute to the continued
development, testing, and procurement of ballistic missile
technology by Iran;
(6) a description of how the Department of the Treasury
assesses the impact and effectiveness of U.S. economic
sanctions programs against Iran; and
(7) recommendations for improving the ability of the
Department of the Treasury to rapidly and effectively develop,
implement, and enforce additional economic sanctions against
Iran if so ordered by the President under the International
Emergency Economic Powers Act or other corresponding
legislation.
(b) Persons Described.--The natural persons described in this
subsection are the following:
(1) The Supreme Leader of Iran.
(2) The President of Iran.
(3) Members of the Council of Guardians.
(4) Members of the Expediency Council.
(5) The Minister of Intelligence and Security.
(6) The Commander and the Deputy Commander of the IRGC.
(7) The Commander and the Deputy Commander of the IRGC
Ground Forces.
(8) The Commander and the Deputy Commander of the IRGC
Aerospace Force.
(9) The Commander and the Deputy Commander of the IRGC
Navy.
(10) The Commander of the Basij-e-Mostaz'afin.
(11) The Commander of the Qods Force.
(12) The Commander in Chief of the Police Force.
(13) The head of the IRGC Joint Staff.
(14) The Commander of the IRGC Intelligence.
(15) The head of the IRGC Imam Hussein University.
(16) The Supreme Leader's Representative at the IRGC.
(17) The Chief Executive Officer and the Chairman of the
IRGC Cooperative Foundation.
(18) The Commander of the Khatam-al-Anbia Construction Head
Quarter.
(19) The Chief Executive Officer of the Basij Cooperative
Foundation.
(20) The head of the Political Bureau of the IRGC.
(21) The head of the Atomic Energy Organization of Iran.
(c) Form of Report; Public Availability.--
(1) Form.--The report required under subsection (a) shall
be submitted in unclassified form but may contain a classified
annex.
(2) Public availability.--The unclassified portion of such
report shall be made available to the public and posted on the
website of the Department of the Treasury--
(A) in English, Farsi, Arabic, and Azeri; and
(B) in precompressed, easily downloadable versions
that are made available in all appropriate formats.
(d) Sources of Information.--In preparing a report described under
subsection (a), the Secretary of the Treasury may utilize any credible
publication, database, web-based resource, and any credible information
compiled by any government agency, nongovernmental organization, or
other entity provided to or made available to the Secretary.
(e) Definitions.--For purposes of this section:
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' means 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.
(2) Funds.--The term ``funds'' means--
(A) cash;
(B) equity;
(C) any other intangible asset whose value is
derived from a contractual claim, including bank
deposits, bonds, stocks, a security as defined in
section 2(a) of the Securities Act of 1933 (15 U.S.C.
77b(a)), or a security or an equity security as defined
in section 3(a) of the Securities Exchange Act of 1934
(15 U.S.C. 78c(a)); and
(D) anything else that the Secretary determines
appropriate.
<all>
Committee on Foreign Affairs discharged.
Committee on Foreign Affairs discharged.
Placed on the Union Calendar, Calendar No. 335.
Rules Committee Resolution H. Res. 658 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate on each bill. It also makes in order specified amendments for the bills.
Considered under the provisions of rule H. Res. 658. (consideration: CR H9868-9878)
Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate on each bill. It also makes in order specified amendments for the bills.
The Speaker designated the Honorable Paul Mitchell to act as Chairman of the Committee.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 658 and Rule XVIII.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1638.
DEBATE - Pursuant to the provisions of H. Res. 658, the Committee of the Whole proceeded with 10 minutes of debate on the Schneider Part A amendment No. 1.
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DEBATE - Pursuant to the provisions of H. Res. 658, the Committee of the Whole proceeded with 10 minutes of debate on the Meng Part A amendment No. 2.
The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1638.
The previous question was ordered pursuant to the rule.
The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union. (text of amendment in the nature of a substitute: CR H9875-9876)
POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 1638, the Chair put the question on passage and by voice vote announced that the ayes had prevailed. Mr. Hensarling demanded the yeas and nays, and the Chair postponed further proceedings on the question of passage until later in the legislative day.
Considered as unfinished business. (consideration: CR H9879-9880)
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 289 - 135 (Roll no. 680).
Roll Call #680 (House)On passage Passed by the Yeas and Nays: 289 - 135 (Roll no. 680).
Roll Call #680 (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.