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

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.

Subjects

Finance and Financial Sector

Summary

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.

Full Text

Related Legislation

H.R. 5711No U.S. Financing for Iran Act
2016-11-28Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related
H.R. 5716To 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 the Secretary of the Treasury to issue an annual report on the status of, and risks related to, U.S. financial institutions involved with the sale or lease of such a commercial passenger aircraft, and for other purposes.
2016-07-11Referred 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.
Related

Legislative Actions

2016-07-07
Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.
2016-07-12
Introduced in House
2016-07-12
Introduced in House
2016-07-12
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.
2016-07-12
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.
2016-07-12
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.
2016-07-13
Committee Consideration and Mark-up Session Held.
2016-07-13
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 21.
2016-12-12
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-866, Part I.
2016-12-12
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-866, Part I.

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