To clarify certain provisions relating to the interests of Iran in certain assets, and for other purposes.

Summary

States that the property interest of Iran in: (1) a blocked asset shall include an interest in property of any nature whatsoever, including any direct or indirect interest in securities or other financial assets immobilized or in any other manner held in book entry form and credited to a securities account in the United States, or in any funds transfers held in a U.S. financial institution; (2) securities or other financial assets immobilized or in any other manner held in book entry form and credited to a securities account in the United States shall be deemed to exist at every tier of securities intermediary necessary to hold an interest in any such securities or other financial assets; and (3) a funds transfer shall exist at any intermediary bank necessary to complete such funds transfer. States that property of Iran shall be deemed to be property in the United States of Iran if that property is: (1) an interest, held for Iran's benefit or for the benefit of any securities intermediary that directly or indirectly holds the interest for Iran's benefit, in securities or other financial assets that are represented by certificates or are in other physical form and are immobilized, custodized, or held for safekeeping or any other reason in the United States; or (2) an interest in securities or other financial assets held in book entry form or otherwise, and credited to a securities account in the United States by any securities intermediary directly or indirectly for Iran's benefit or for the benefit of any other securities intermediary that directly or indirectly holds the interest for Iran's benefit. States that: (1) an interest in securities or other financial assets is held and credited to a securities account in the United States by a securities intermediary if the securities intermediary is located in the United States; and (2) ownership by Iran, or its central bank or monetary authority, of any property shall be deemed to be commercial activity in the United States and that property, including any interest in that property, shall be deemed not to be held for the central bank's or monetary authority's own account. Revises provisions regarding exceptions to the immunity from attachment or execution of a foreign state's property in the United States.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 16 February 2012

   Introduced

   Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 16 February 2012

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 February 2012

   Introduced

   Introduced in House

   Source: IntroReferral

4. 23 February 2012

   Referred

   Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

   Source: Committee

5. 28 February 2012

   Referred

   Referred to the Subcommittee on Courts, Commercial and Administrative Law.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 16 February 2012 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 February 2012

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 16 February 2012

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 February 2012

  Open at official source

Sponsors

• Rep. Turner, Robert L. [R-NY-9] · R · Sponsor
• Rep. Broun, Paul C. [R-GA-10] · R · Cosponsor
• Brad Sherman · D · Cosponsor
• Rep. Andrews, Robert E. [D-NJ-1] · D · Cosponsor
• Bill Posey · R · Cosponsor
• WALTER JONES · R · Cosponsor
• Charles Dent · R · Cosponsor
• ILEANA ROS-LEHTINEN · R · Cosponsor
• Rep. Coble, Howard [R-NC-6] · R · Cosponsor
• Rep. Braley, Bruce L. [D-IA-1] · D · Cosponsor
• Dennis Ross · R · Cosponsor
• Rep. West, Allen B. [R-FL-22] · R · Cosponsor
• Rep. Nugent, Richard B. [R-FL-11] · R · Cosponsor
• Rep. McCotter, Thaddeus G. [R-MI-11] · R · Cosponsor
• Diane Black · R · Cosponsor
• Tim Scott · R · Cosponsor
• Rep. Runyan, Jon [R-NJ-3] · R · Cosponsor
• Rep. Schwartz, Allyson Y. [D-PA-13] · D · Cosponsor
• Rep. Forbes, J. Randy [R-VA-4] · R · Cosponsor
• Rep. Filner, Bob [D-CA-51] · D · Cosponsor
• JOHN CONYERS · D · Cosponsor
• Frederica Wilson · D · Cosponsor
• Gerald Connolly · D · Cosponsor
• Rep. Rothman, Steven R. [D-NJ-9] · D · Cosponsor
• TIM RYAN · D · Cosponsor
• Rep. Austria, Steve [R-OH-7] · R · Cosponsor
• Rep. Barrow, John [D-GA-12] · D · Cosponsor
• Rep. McCarthy, Carolyn [D-NY-4] · D · Cosponsor
• Rep. Towns, Edolphus [D-NY-11] · D · Cosponsor
• PETER DEFAZIO · D · Cosponsor
• Rep. Richardson, Laura [D-CA-37] · D · Cosponsor
• Rep. Berkley, Shelley [D-NV-1] · D · Cosponsor
• Rep. Rangel, Charles B. [D-NY-19] · D · Cosponsor
• Rep. Grimm, Michael G. [R-NY-11] · R · Cosponsor
• Rep. Rivera, David [R-FL-25] · R · Cosponsor
• Mike Rogers · R · Cosponsor
• Rep. Southerland, Steve II [R-FL-2] · R · Cosponsor
• Rep. Schilling, Robert T. [R-IL-17] · R · Cosponsor
• Rep. Wilson, Joe [R-SC-2] · R · Cosponsor
• Bill Pascrell · D · Cosponsor
• Ted Poe · R · Cosponsor
• David Cicilline · D · Cosponsor
• Grace Napolitano · D · Cosponsor
• Randy Hultgren · R · Cosponsor
• Rep. Hochul, Kathleen C. [D-NY-26] · D · Cosponsor
• Rep. Owens, William L. [D-NY-21] · D · Cosponsor
• James Himes · D · Cosponsor
• Sen. Baldwin, Tammy [D-WI] · D · Cosponsor

Showing 48 of 60 sponsors and actors.

Related records

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