No Ex-Im Assistance for Terrorism Act

No Ex-Im Assistance for Terrorism Act

(Sec. 2) 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 Government of Iran, an entity owned or controlled by it, an entity created under Iranian law, or a foreign subsidiary of such an entity;
• an entity involving the Government of Iran, owned or controlled by the Government of Iran, created under Iranian law, or a foreign subsidiary of such an entity; or
• a non-U.S. entity that, in the last five-years, has leased or sold aircraft to the Government of Iran, or a subsidiary or controlling parent of such a non-U.S. entity.

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.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5715 Introduced in House (IH)]

<DOC>






114th CONGRESS
  2d Session
                                H. R. 5715

To prohibit the Export-Import Bank of the United States from providing 
                   financing that would benefit Iran.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 11, 2016

Mr. Roskam (for himself and Mr. Sherman) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To prohibit the Export-Import Bank of the United States from providing 
                   financing that would benefit Iran.

    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 ``No Ex-Im Assistance for Terrorism 
Act''.

SEC. 2. PROHIBITION ON EXPORT-IMPORT BANK FINANCING THAT WOULD BENEFIT 
              IRAN.

    Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 
635(b)) is amended by adding at the end the following:
    ``(14) Prohibition on Financing That Would Benefit Iran.--
            ``(A) Direct financing.--The Bank shall not guarantee, 
        insure, or extend (or participate in an extension of) credit in 
        connection with any transaction with respect to which credit 
        assistance from the Bank is first sought after the effective 
        date of this paragraph by--
                    ``(i) the Government of Iran or an entity owned or 
                controlled by the Government of Iran; or
                    ``(ii) an entity created under Iranian law.
            ``(B) Indirect financing.--The Bank shall not guarantee, 
        insure, or extend (or participate in an extension of) credit in 
        connection with any transaction with respect to which credit 
        assistance from the Bank is first sought after the effective 
        date of this paragraph involving--
                    ``(i) an entity for the purpose of a transaction 
                involving the Government of Iran or an entity referred 
                to in subparagraph (A); or
                    ``(ii) a non-United States entity that, in the 5-
                year period ending with the date of the enactment of 
                this paragraph, has leased or re-exported aircraft to 
                the Government of Iran or an entity referred to in 
                subparagraph (A) in contravention of United States law.
            ``(C) Cancellation of approved financing.--The Bank shall 
        cease the provision of financial assistance approved by the 
        Bank in connection with a transaction with respect to which 
        credit assistance from the Bank is first sought after the 
        effective date of this paragraph, on finding that the 
        assistance has facilitated the export or re-export of an 
        aircraft to Iran, and shall seek immediate recovery of any 
        amount provided by the Bank in connection with the 
        transaction.''.
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