Ask AI
Bill114th CongressFiled Jul 11, 2016Finance and Financial Sector
H.R. 5711

No U.S. Financing for Iran Act

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
Both
Law

What it doesSummary passed house amended (Nov 17, 2016)

No U.S. Financing for Iran Act

TITLE I--IRAN FINANCING PROHIBITION

(Sec. 101) This bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.

(Sec. 102) Any transaction authorized by Treasury before enactment of this bill is revoked.

TITLE II--NO EX-IM ASSISTANCE FOR TERRORISM

No Ex-Im Assistance for Terrorism Act

(Sec. 202) This bill amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, extending credit, or participating in the extension of credit in connection with the export of U.S. goods or services sought by:

  • the Government of Iran, an entity owned or controlled by it, an entity created under Iranian law, or a foreign subsidiary of such an entity;
  • an entity involving the Government of Iran, owned or controlled by the Government of Iran, created under Iranian law, or a foreign subsidiary of such an entity; or
  • a non-U.S. entity that, in the last five-years, has leased or sold aircraft to the Government of Iran, or a subsidiary or controlling parent of such a non-U.S. entity.

The Bank must cancel approved financing if it finds that such financing has facilitated the export, sale, or lease of an aircraft to the Government of Iran or a related entity and must seek immediate recovery of any amount it has provided in connection with the transaction.

TITLE III--SUNSET

(Sec. 301) This bill shall cease to be effective 30 days after the President certifies to Congress that the Government of Iran has ceased support for acts of international terrorism.

What just happenedNov 28, 2016

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

Who’s behind it

Rep. Huizenga, Bill [R-MI-2](R-MI)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors2committees25actions2amendments3related bills4subjects
  1. Nov 28, 2016IntroReferral

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

    Banking, Housing, and Urban Affairs Committee
  2. Nov 17, 2016FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Nov 17, 2016FloorH37100

    On passage Passed by the Yeas and Nays: 243 - 174 (Roll no. 587).

  4. Nov 17, 2016Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 243 - 174 (Roll no. 587).

  5. Nov 17, 2016FloorH36110

    On motion to recommit with instructions Failed by the Yeas and Nays: 181 - 235 (Roll no. 586). (consideration: CR H6288-6289)

    Financial Services Committee
  6. Nov 17, 2016FloorH30000

    Considered as unfinished business. (consideration: CR H6288-6289)

  7. Nov 17, 2016FloorH8D000

    The Chair announced that the unfinished business and pursuant to a previous order of the House, the question was on adoption of a motion to recommit with instructions, which had been debated earlier and on which further proceedings had been postponed.

  8. Nov 16, 2016FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit with instructions, the Chair put the question on adopting the motion and by voice vote, announced that the nays had prevailed. Mr. Swalwell (CA) demanded the yeas and nays, and pursuant to a previous order of the House, the Chair postponed further proceedings on the motion to recommit with instructions until a time to be announced.

  9. Nov 16, 2016FloorH8D000

    DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add a section to prohibit the Secretary of the Treasury from authorizing a transaction described under section 101 by a U.S. financial institution if such institution is engaged in business with a foreign entity that has been found to have engaged in or authorized cyber attacks targeting any election held in the United States.

  10. Nov 16, 2016FloorH36100

    Mr. Swalwell (CA) moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H6264; text: CR H6264)

    Financial Services Committee
  11. Nov 16, 2016FloorH8D000

    DEBATE - Pursuant to the provisions of H.Res. 921, the House proceeded with 10 minutes of debate on the Huizenga (MI) amendment.

  12. Nov 16, 2016FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.R. 5711.

  13. Nov 16, 2016FloorH8D000

    The rule provides for one hour of general debate on H.R. 5711 and H.R. 5982.

  14. Nov 16, 2016FloorH30000

    Considered under the provisions of rule H. Res. 921. (consideration: CR H6255-6265; text of measure as reported in House: CR H6255-6256)

  15. Nov 16, 2016FloorH8D000

    ORDER OF PROCEDURE - Mr. Huizenga (MI) asked unanimous consent that the question of adopting a motion to recommit on H.R. 5711 be subject to postponement as though under Clause 8 of Rule 20. Agreed to without objection.

  16. Nov 14, 2016FloorH1L210

    Rules Committee Resolution H. Res. 921 Reported to House. The rule provides for one hour of general debate on H.R. 5711 and H.R. 5982.

  17. Nov 14, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 634.

  18. Nov 14, 2016CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-810.

    Financial Services Committee
  19. Nov 14, 2016Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-810.

    Financial Services Committee
  20. Jul 13, 2016Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 21.

    Financial Services Committee
  21. Jul 13, 2016Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  22. Jul 11, 2016IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  23. Jul 11, 2016IntroReferralIntro-H

    Introduced in House

  24. Jul 11, 2016IntroReferral1000

    Introduced in House

  25. Jul 7, 2016Committee

    Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Introduction and Referral.

    Financial Institutions and Monetary Policy Subcommittee
Passed House amendedNov 17, 201636

No U.S. Financing for Iran Act

TITLE I--IRAN FINANCING PROHIBITION

(Sec. 101) This bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.

(Sec. 102) Any transaction authorized by Treasury before enactment of this bill is revoked.

TITLE II--NO EX-IM ASSISTANCE FOR TERRORISM

No Ex-Im Assistance for Terrorism Act

(Sec. 202) This bill amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, extending credit, or participating in the extension of credit in connection with the export of U.S. goods or services sought by:

  • the Government of Iran, an entity owned or controlled by it, an entity created under Iranian law, or a foreign subsidiary of such an entity;
  • an entity involving the Government of Iran, owned or controlled by the Government of Iran, created under Iranian law, or a foreign subsidiary of such an entity; or
  • a non-U.S. entity that, in the last five-years, has leased or sold aircraft to the Government of Iran, or a subsidiary or controlling parent of such a non-U.S. entity.

The Bank must cancel approved financing if it finds that such financing has facilitated the export, sale, or lease of an aircraft to the Government of Iran or a related entity and must seek immediate recovery of any amount it has provided in connection with the transaction.

TITLE III--SUNSET

(Sec. 301) This bill shall cease to be effective 30 days after the President certifies to Congress that the Government of Iran has ceased support for acts of international terrorism.

Reported to House with amendment(s)Nov 14, 201617

(Sec. 1) This bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions incident to the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.

(Sec. 2) Any transaction authorized by Treasury before enactment of this bill is revoked.

Introduced in HouseJul 11, 2016

This bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions incident to the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran.

No U.S. Financing for Iran Act — Informed