Iran Freedom Support Act

Iran Freedom Support Act - States that: (1) specified U.S. sanctions, controls, and regulations with respect to Iran shall remain in effect. Authorizes the President to terminate such sanctions in whole or in part upon congressional notification; and (2) nothing in this Act shall affect sanctions, controls, or regulations relating to Iranian support of international terrorism.

Amends the Iran and Libya Sanctions Act of 1996 to: (1) eliminate mandatory sanction provisions respecting Libya; (2) impose mandatory sanctions on a person or entity that aids Iran acquire or develop weapons of mass destruction or destabilizing types and numbers of conventional weapons; (3) require that Iran be determined to pose no significant threat to U.S. national security, interests, or allies in order to lift sanctions against entities investing in Iran's petroleum industry; (4) extend the sunset provision; and (5) rename such Act as the Iran Sanctions Act of 1996.

Authorizes the President to provide financial and political assistance to eligible foreign and domestic individuals and groups that support democracy in Iran.

Expresses the sense of Congress that it should be U.S. policy to: (1) not bring into force an agreement for cooperation with the government of any country that is assisting the nuclear program of Iran or transferring advanced conventional weapons or missiles to Iran; and (2) support independent human rights and peaceful pro-democracy forces in Iran.

Includes money laundering activities involved in the proliferation of weapons of mass destruction or missiles in the federal provisions regulating certain monetary transactions.