Summary

                            A bill to impose sanctions with respect to the ballistic missile program of Iran, and for other purposes.

Introduced in Senate
Iran Ballistic Missile Sanctions Act

This bill amends the Iran-Iraq Arms Non-Proliferation Act of 1992 to cover
ballistic missile or related technology.

The Iran Sanctions Act of 1996 is amended to: (1) extend the Act through
December 31, 2031, and (2) require sanctions on Iran and related entities and
persons for actions to acquire or develop ballistic missiles and launch
technology.

The Iran Threat Reduction and Syria Human Rights Act of 2012 is amended to
direct the President to report to Congress biannually on: (1) identified persons
that have knowingly aided Iran in developing its ballistic missile program, and
(2) Iran-North Korea ballistic missile cooperation. 

The President shall block and prohibit all transactions in property and property
interests in the United States of any identified person. 

An identified person, with certain exceptions, shall be excluded from U.S.
entry.

The President shall prohibit the opening and prohibit or impose strict
conditions on the maintaining in the United States of a correspondent account or
a payable-through account by a foreign financial institution that knowingly
conducts or facilitates a significant financial transaction for an identified
person. 

The President shall block and prohibit all transactions in property and property
interests in the United States of: 

 * any entity owned in part by the Aerospace Industries Organization, the Shahid
   Hemmat Industrial Group, or the Shahid Bakeri Industrial Group, or
   collectively by a group of individual investors in such groups; or 
 * any person that controls or is a board member of such an entity.

 The Department of the Treasury shall submit to Congress a list of entities (and
their officers) in which the Aerospace Industries Organization, the Shahid
Hemmat Industrial Group, the Shahid Bakeri Industrial Group, or any agent or
affiliate has a specified minimum ownership interest. 

The President shall:

 *  certify to Congress biannually that each person listed in an annex of
   certain United Nations Security Council Resolutions is not involved with the
   development of or transfer to Iran of ballistic missiles, related technology,
   or components; but 
 * issue sanctions on any persons involved in those activities and prohibit
   associated financial transactions in the United States.

The President shall report to Congress: (1) biannually a list of sectors of the
Iranian economy involved with the development of or transfer to Iran of
ballistic missiles or technology; and (2) annually a list of all foreign persons
involved with the development of ballistic missiles, technology, or components
in those sectors, namely: 

 * automotive, 
 * chemical, 
 * computer science, 
 * construction, 
 * electronic, 
 * energy, 
 * metallurgy, 
 * mining, 
 * petrochemical, 
 * research (including universities and research institutions), and 
 * telecommunications. 

The Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 is
amended to cover the acquisition or development of ballistic missiles,
capabilities, and launch technology.

The Securities Exchange Act of 1934 is amended to require each issuer of
securities to disclose to the Securities and Exchange Commission whether it
knowingly engaged in any activity involving sectors of Iran that support its
ballistic missile program for which sanctions may be imposed.



                        

Actions

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

    Jan 3rd, 2017
  • Introduced in Senate

    Jan 3rd, 2017