United States HR 5921: No U.S. Financing for Iran Act of 2023

Bill Text

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118TH CONGRESS
1ST SESSION H. R. 5921
To prohibit the Secretary of the Treasury from authorizing certain trans-
actions by a United States financial institution in connection with Iran,
to prevent the International Monetary Fund from providing financial
assistance to Iran, to codify prohibitions on Export-Import Bank financ-
ing for the Government of Iran, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
OCTOBER 11, 2023
Mr. HUIZENGA (for himself, Mrs. WAGNER, Mr. MEUSER, Mr. POSEY, Mr.
NUNN of Iowa, Mr. LOUDERMILK, Mr. WILLIAMS of Texas, Mr.
RESCHENTHALER, Mr. MCCORMICK, Ms. SALAZAR, Mr. FEENSTRA, Mr.
LUETKEMEYER, Mr. SCOTT FRANKLIN of Florida, Mr. SMITH of New
Jersey, Mr. JAMES, Mr. SELF, Mr. RUTHERFORD, Mr. BARR, and Mr.
OGLES) introduced the following bill
OCTOBER 25, 2023
Referred to the Committee on Financial Services
A BILL
To prohibit the Secretary of the Treasury from authorizing
certain transactions by a United States financial institu-
tion in connection with Iran, to prevent the International
Monetary Fund from providing financial assistance to
Iran, to codify prohibitions on Export-Import Bank fi-
nancing for the Government of Iran, and for other pur-
poses.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
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•HR 5921 IH
SECTION 1. SHORT TITLE. 1
This Act may be cited as the ‘‘No U.S. Financing 2
for Iran Act of 2023’’. 3
SEC. 2. PROHIBITION ON AUTHORIZATIONS FOR UNITED 4
STATES FINANCIAL INSTITUTIONS. 5
The Secretary of the Treasury may not authorize a 6
transaction by a U.S. financial institution (as defined in 7
section 561.309 of title 31, Code of Federal Regulations) 8
in connection with the importation from or exportation to 9
the Islamic Republic of Iran of any goods, services, or 10
technology, other than the sale of agricultural commod-11
ities, food, medicine, or medical devices benefitting the ci-12
vilian population of Iran. 13
SEC. 3. OPPOSITION TO INTERNATIONAL MONETARY FUND 14
ASSISTANCE. 15
The Secretary of the Treasury shall instruct the 16
United States Executive Director at the International 17
Monetary Fund to— 18
(1) oppose the provision of financial assistance 19
by the Fund to the Islamic Republic of Iran, and the 20
allocation to the Government of Iran of Special 21
Drawing Rights; and 22
(2) seek to ensure that member countries of the 23
Fund prohibit the exchange of Special Drawing 24
Rights held by the Government of Iran. 25
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•HR 5921 IH
SEC. 4. CODIFICATION OF EXPORT-IMPORT BANK PROHIBI-1
TION WITH RESPECT TO IRAN. 2
Section 2(b) of the Export-Import Bank Act of 1945 3
(12 U.S.C. 635(b)) is amended by adding at the end the 4
following: 5
‘‘(14) PROHIBITION ON FINANCING FOR 6
IRAN.—The Bank may not guarantee, insure, or ex-7
tend (or participate in an extension of) credit in con-8
nection with any transaction, with respect to which 9
credit assistance from the Bank is first sought after 10
the effective date of this paragraph, for which a 11
lender or obligor is the Government of Iran or an 12
entity owned or controlled by the Government of 13
Iran.’’. 14
SEC. 5. SUNSET. 15
This Act and the amendment made by this Act are 16
hereby repealed effective on the earliest of— 17
(1) the date that is 30 days after the date the 18
President of the United States certifies to the Con-19
gress that the Government of Iran— 20
(A) has ceased providing support for acts 21
of international terrorism; and 22
(B) is not a jurisdiction of primary money 23
laundering concern, as described under section 24
5318A of title 31, United States Code; or 25
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•HR 5921 IH
(2) 10 years after the date of the enactment of 1
this Act. 2
Æ
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