US Congress Senate Bill 2757 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 6 2016 - 25% progression, died in committee
Action: 2016-04-06 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Iran Financial System Access Limitation Act of 2016 This bill expresses the sense of Congress that Congress must act to preempt any move to grant licenses resulting in Iran's access to the U.S. dollar. The President may not issue a license to an offshore dollar-clearing entity to conduct a transaction in U.S. dollars with an Iranian financial institution. A U.S. person may not process (in a U-turn transaction) any transfer of funds to or from Iran, or for the benefit of persons in Iran or the government of Iran, even if the transfer arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction. The President shall block and prohibit transactions in all property and property interests of any foreign financial institution that serves as an offshore dollar clearing entity to conduct a transaction with an Iranian financial institution in U.S. dollars if such property and property interests are in the United States, come within the United States, or are or come within the possession or control of a U.S. person.

Iran Financial System Access Limitation Act of 2016

Sen. Dan Sullivan [R-AK]

Date	Chamber	Action
2016-04-06	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/2757/all-info
Text	https://www.congress.gov/114/bills/s2757/BILLS-114s2757is.pdf