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Bill115th CongressFiled Nov 9, 2017Foreign Trade and International Finance
H.R. 4324

Strengthening Oversight of Iran's Access to Finance Act

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house without amendment (Dec 14, 2017)

Strengthening Oversight of Iran's Access to Finance Act

(Sec. 3) This bill sets forth reporting requirements with respect to the export of commercial passenger aircrafts to Iran. The Department of the Treasury must report on financial institutions conducting transactions regarding such exports. Additionally, Treasury must determine if such transactions pose a risk relating to money laundering, terrorism, or other sanctionable activities.

The President may waive the requirements of this bill under certain circumstances.

What just happenedDec 18, 2017

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

Who’s behind it

Rep. Williams, Roger [R-TX-25](R-TX)Sponsor
12 cosponsors12 R
Read on Congress.gov
12cosponsors2committees25actions2amendments2related bills16subjects
  1. Dec 18, 2017IntroReferral

    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. Dec 14, 2017FloorH38900

    The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 4324.

  3. Dec 14, 2017FloorH38310

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

  4. Dec 14, 2017FloorH37100

    On passage Passed by the Yeas and Nays: 252 - 167 (Roll no. 684).

  5. Dec 14, 2017Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 252 - 167 (Roll no. 684).

  6. Dec 14, 2017FloorH36110

    On motion to recommit with instructions Failed by the Yeas and Nays: 188 - 233 (Roll no. 683).

    Financial Services Committee
  7. Dec 14, 2017FloorH30000

    Considered as unfinished business. (consideration: CR H9916-9918)

  8. Dec 13, 2017FloorH8D000

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

  9. Dec 13, 2017FloorH8A000

    The previous question on the motion to recommit with instructions was ordered without objection.

  10. Dec 13, 2017FloorH8D000

    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 prohibit financial institutions participating in certain transactions from engaging in business with a foreign entity that has been found by the Secretary, in consultation with the Director of National Intelligence, to have engaged in or authorized cyber-attacks targeting any election held in the United States.

  11. Dec 13, 2017FloorH36100

    Mr. Swalwell (CA) moved to recommit with instructions to the Committee on Financial Services. (text: CR H9890)

    Financial Services Committee
  12. Dec 13, 2017FloorH8D000

    DEBATE - Pursuant to the provisions of H.Res. 658, the House proceeded with 10 minutes of debate on the Gaetz amendment No. 1.

  13. Dec 13, 2017FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.R. 4324.

  14. Dec 13, 2017FloorH8D000

    Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate on each bill. It also makes in order specified amendments for the bills.

  15. Dec 13, 2017FloorH30000

    Considered under the provisions of rule H. Res. 658. (consideration: CR H9880-9891; text of amendment in the nature of a substitute: CR H9880-9881)

  16. Dec 13, 2017FloorH1L220

    Rule H. Res. 658 passed House.

  17. Dec 12, 2017FloorH1L210

    Rules Committee Resolution H. Res. 658 Reported to House. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Rule provides for one hour of general debate on each bill. It also makes in order specified amendments for the bills.

  18. Dec 7, 2017CalendarsH12410

    Placed on the Union Calendar, Calendar No. 334.

  19. Dec 7, 2017CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-452.

    Financial Services Committee
  20. Dec 7, 2017Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-452.

    Financial Services Committee
  21. Nov 14, 2017Committee

    Ordered to be Reported by the Yeas and Nays: 38 - 21.

    Financial Services Committee
  22. Nov 14, 2017Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  23. Nov 9, 2017IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  24. Nov 9, 2017IntroReferralIntro-H

    Introduced in House

  25. Nov 9, 2017IntroReferral1000

    Introduced in House

Passed House without amendmentDec 14, 201781

Strengthening Oversight of Iran's Access to Finance Act

(Sec. 3) This bill sets forth reporting requirements with respect to the export of commercial passenger aircrafts to Iran. The Department of the Treasury must report on financial institutions conducting transactions regarding such exports. Additionally, Treasury must determine if such transactions pose a risk relating to money laundering, terrorism, or other sanctionable activities.

The President may waive the requirements of this bill under certain circumstances.

Reported to House with amendment(s)Dec 7, 201717

Strengthening Oversight of Iran's Access to Finance Act

This bill sets forth reporting requirements with respect to the export of commercial passenger aircrafts to Iran. The Department of the Treasury must report on financial institutions conducting transactions regarding such exports. Additionally, Treasury must determine if such transactions pose a risk relating to money laundering, terrorism, or other sanctionable activities.

The President may waive the requirements of this bill under certain circumstances.

Introduced in HouseNov 9, 2017

Strengthening Oversight of Iran's Access to Finance Act

This bill directs the Department of the Treasury, not later than 30 days after authorizing a U. S. or foreign financial institution to export or re-export a commercial passenger aircraft to Iran (or, for an authorization made after January 16, 2016, but before the enactment of this bill, not later than 60 days after such enactment) and every 180 days thereafter for the duration of the authorization, to submit to Congress a report containing:

  • a list of financial institutions that have, since January 16, 2016, conducted transactions authorized in connection with such export or re-export; and either
  • a certification that such transaction does not pose a significant money laundering or terrorism financing risk to the U. S. financial system and will not benefit an Iranian person who for the one year preceding the certification has knowingly transported weapons of mass destruction or has knowingly provided transportation services or material support to terrorists, and that any such institution had appropriate policies, procedures, and processes in place to avoid engaging in sanctionable activities; or
  • a statement that the Treasury is unable to make such a certification and will, within 60 days after such determination, issue a report on non-certification to Congress.

The President may waive the requirements of this bill for up to one year at a time upon certifying to Congress that:

  • the Government of Iran has made substantial progress toward combating money laundering and terrorism financing risk emanating from Iran or has significantly reduced its destabilizing activities in the region or material support for terrorist groups; or
  • such waiver is important to U.S. national interests.
Strengthening Oversight of Iran's Access to Finance Act — Informed