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HOUSE 5921118th CongressReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

No U.S. Financing for Iran Act of 2023

Last Action
4/16/2024

Actions

  • 2024-04-16Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • 2024-04-15Motion to reconsider laid on the table Agreed to without objection.
  • 2024-04-15On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
  • 2024-04-15Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
  • 2024-04-15Considered as unfinished business. (consideration: CR H2384-2385)
  • 2024-04-15At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  • 2024-04-15DEBATE - The House proceeded with forty minutes of debate on H.R. 5921.
  • 2024-04-15Considered under suspension of the rules. (consideration: CR H2376-2378)
  • 2024-04-15Mr. McHenry moved to suspend the rules and pass the bill, as amended.
  • 2023-12-19Placed on the Union Calendar, Calendar No. 271.
  • 2023-12-19Reported (Amended) by the Committee on Financial Services. H. Rept. 118-332.
  • 2023-12-19Reported (Amended) by the Committee on Financial Services. H. Rept. 118-332.
  • 2023-11-14Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 34 - 12.
  • 2023-11-14Committee Consideration and Mark-up Session Held
  • 2023-10-25Referred to the House Committee on Financial Services.

Showing 15 of 17 actions. Full history on Congress.gov.

CRS Summary

As of 2023-12-19 (07)

No U.S. Financing for Iran Act of 2023

This bill prohibits certain actions related to exports, imports, and financing with respect to Iran.

Specifically, the bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the importation from or exportation to Iran of goods, services, or technology. This prohibition does not apply to the sale of agricultural commodities, food, medicine, medical devices, or humanitarian assistance benefitting the civilian population of Iran.

The bill requires Treasury to instruct U.S. representatives to the International Monetary Fund (IMF) to (1) oppose IMF financial assistance, and the allocation of Special Drawing Rights (SDR), to Iran; and (2) seek to ensure that IMF member countries prohibit the exchange of SDR held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)

Further, the bill provides statutory authority for the prohibition on Export-Import Bank financing with respect to Iran.

The bill's provisions shall be in effect until the earlier of (1) 30 days after the President certifies to Congress that Iran has ceased providing support for acts of international terrorism and is not a jurisdiction of primary money laundering concern, or (2) 10 years after this bill's enactment.

Cosponsors (20)

  • Ann Wagner (R-MO)
  • Daniel Meuser (R-PA)
  • Bill Posey (R-FL)
  • Zachary Nunn (R-IA)
  • Barry Loudermilk (R-GA)
  • Roger Williams (R-TX)
  • Guy Reschenthaler (R-PA)
  • Richard McCormick (R-GA)
  • Maria Salazar (R-FL)
  • Randy Feenstra (R-IA)
  • Blaine Luetkemeyer (R-MO)
  • C. Franklin (R-FL)
  • CHRISTOPHER SMITH (R-NJ)
  • John James (R-MI)
  • Keith Self (R-TX)
  • John Rutherford (R-FL)
  • Andy Barr (R-KY)
  • Andrew Ogles (R-TN)
  • Byron Donalds (R-FL)
  • Lloyd Smucker (R-PA)

Subjects

  • Export-Import Bank of the United States
  • Foreign aid and international relief
  • International monetary system and foreign exchange
  • Iran
  • Middle East
  • Trade restrictions
Read on Congress.gov

Sourced from Congress.gov (public domain).

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