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HR 4676 115th Congress House International Affairs Administrative law and regulatory procedures Corporate finance and management Department of the Treasury Foreign property Iran Middle East Sanctions War and emergency powers

Expanding Sanctions Against Iran's Revolutionary Guard Corps Act

Introduced: December 18, 2017 Introduced by: McCaul, Michael T. Republican · Texas See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 18, 2017
Referred to the House Committee on Foreign Affairs.
Dec 18, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Expanding Sanctions Against Iran's Revolutionary Guard Corps Act

This bill expresses the sense of Congress that: (1) persons who are owned or controlled by Iran's Revolutionary Guard Corps (IRGC) should be subject to a 25% beneficial ownership threshold rather than majority ownership threshold with respect to blocking property or property interests, and (2) such expanded sanctions would generate enhanced due diligence procedures by the private sector and others.

For purposes of this bill, a person "owns or controls" property if the person: (1) holds more than 25% of the equity interest by vote or value in the person; (2) holds a majority of seats on the board of directors of the person; or (3) otherwise controls the actions, policies, or personnel decisions of the person.

The Department of the Treasury shall prescribe regulations to apply the definition of "own or control" for purposes of blocking property or interests in property of persons who are owned or controlled by the IRGC.

What's happening now December 18, 2017

Referred to the House Committee on Foreign Affairs.

 Committees of jurisdiction 1