S 1065 111th Congress Senate Finance and Financial Sector Arms control and nonproliferation Civil actions and liability Educational facilities and institutions Employee benefits and pensions Financial services and investments Higher education Iran Middle East Nuclear power Nuclear weapons Oil and gas State and local finance U.S. and foreign investments

Iran Sanctions Enabling Act of 2009

Introduced: May 18, 2009 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 18, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

May 18, 2009

Introduced in Senate

Plain-English summary Congressional Research Service

Iran Sanctions Enabling Act of 2009 - States that it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in, persons that have investments of $20 million or more in Iran's energy sector.

Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit the investment of assets they control in, such persons, including financial institutions which extend them credit to so invest.

Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, securities issued by such persons.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to shield from treatment as breaching a fiduciary duty any person divesting employee benefit plan assets from, or avoiding investing plan assets in, such persons.

What's happening now May 18, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees of jurisdiction 1