Us Congress 2023-2024 Regular Session

Us Congress House Bill HB5923 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
	1	+	IB
	2	+	Union Calendar No. 272
1	3		118THCONGRESS
2		-	2
3		-	DSESSION H. R. 5923
4		-	AN ACT
	4	+	1
	5	+	STSESSION H. R. 5923
	6	+	[Report No. 118–333]
	7	+	To impose restrictions on correspondent and payable-through accounts in
	8	+	the United States with respect to Chinese financial institutions that
	9	+	conduct transactions involving the purchase of petroleum or petroleum
	10	+	products from Iran.
	11	+	IN THE HOUSE OF REPRESENTATIVES
	12	+	OCTOBER11, 2023
	13	+	Mr. L
	14	+	AWLER(for himself, Mr. GOTTHEIMER, Mr. DONALDS, and Mr.
	15	+	L
	16	+	OUDERMILK) introduced the following bill
	17	+	O
	18	+	CTOBER25, 2023
	19	+	Referred to the Committee on Financial Services
	20	+	D
	21	+	ECEMBER19, 2023
	22	+	Additional sponsors: Mr. F
	23	+	ITZGERALD, Mr. HUIZENGA, Mr. GARBARINO, Ms.
	24	+	D
	25	+	ELACRUZ, Mr. YAKYM, Mr. SESSIONS, and Mr. BARR
	26	+	D
	27	+	ECEMBER19, 2023
	28	+	Reported with an amendment, committed to the Committee of the Whole
	29	+	House on the State of the Union, and ordered to be printed
	30	+	[Strike out all after the enacting clause and insert the part printed in italic]
	31	+	[For text of introduced bill, see copy of bill as introduced on October 11, 2023]
	32	+	VerDate Sep 11 2014 00:16 Dec 20, 2023 Jkt 049200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6652 E:\BILLS\H5923.RH H5923 2
	33	+	•HR 5923 RH
	34	+	A BILL
5	35		To impose restrictions on correspondent and payable-through
6	36		accounts in the United States with respect to Chinese
7	37		financial institutions that conduct transactions involving
8	38		the purchase of petroleum or petroleum products from
9	39		Iran.
	40	+	VerDate Sep 11 2014 00:16 Dec 20, 2023 Jkt 049200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6652 E:\BILLS\H5923.RH H5923 3
	41	+	•HR 5923 RH
10	42		Be it enacted by the Senate and House of Representa-1
11		-	tives of the United States of America in Congress assembled, 2 2
12		-	•HR 5923 EH
13		-	SECTION 1. SHORT TITLE. 1
14		-	This Act may be cited as the ‘‘Iran-China Energy 2
15		-	Sanctions Act of 2023’’. 3
16		-	SEC. 2. SANCTIONS ON FOREIGN FINANCIAL INSTITUTIONS 4
17		-	WITH RESPECT TO THE PURCHASE OF PE-5
18		-	TROLEUM PRODUCTS AND UNMANNED AER-6
19		-	IAL VEHICLES FROM IRAN. 7
20		-	Section 1245(d) of the National Defense Authoriza-8
21		-	tion Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)) is 9
22		-	amended— 10
23		-	(1) by redesignating paragraph (5) as para-11
24		-	graph (6); and 12
25		-	(2) by inserting after paragraph (4) the fol-13
26		-	lowing new paragraph: 14
	43	+	tives of the United States of America in Congress assembled, 2
	44	+	SECTION 1. SHORT TITLE. 3
	45	+	This Act may be cited as the ‘‘Iran-China Energy 4
	46	+	Sanctions Act of 2023’’. 5
	47	+	SEC. 2. SANCTIONS ON CHINESE FINANCIAL INSTITUTIONS 6
	48	+	THAT PURCHASE PETROLEUM PRODUCTS 7
	49	+	FROM IRAN. 8
	50	+	Section 1245(d) of the National Defense Authorization 9
	51	+	Act for Fiscal Year 2012 (22 U.S.C. 8513a(d)) is amend-10
	52	+	ed— 11
	53	+	(1) by redesignating paragraph (5) as para-12
	54	+	graph (6); and 13
	55	+	(2) by inserting after paragraph (4) the fol-14
	56	+	lowing new paragraph: 15
27	57		‘‘(5) A
28		-	PPLICABILITY OF SANCTIONS WITH RE -15
29		-	SPECT TO CHINESE FINANCIAL INSTITUTIONS .— 16
	58	+	PPLICABILITY OF SANCTIONS WITH RE -16
	59	+	SPECT TO CHINESE FINANCIAL INSTITUTIONS .— 17
30	60		‘‘(A) I
31		-	N GENERAL.—For the purpose of 17
32		-	paragraph (1)(A), a ‘significant financial trans-18
33		-	action’ includes any transaction— 19
34		-	‘‘(i) by a Chinese financial institution 20
35		-	(without regard to the size, number, fre-21
36		-	quency, or nature of the transaction) in-22
37		-	volving the purchase of petroleum or petro-23
38		-	leum products from Iran; and 24
39		-	‘‘(ii) by a foreign financial institution 25
40		-	(without regard to the size, number, fre-26 3
41		-	•HR 5923 EH
42		-	quency, or nature of the transaction) in-1
43		-	volving the purchase of Iranian unmanned 2
44		-	aerial vehicles (UAVs), UAV parts, or re-3
45		-	lated systems. 4
46		-	‘‘(B) D
47		-	ETERMINATION REQUIRED .—Not 5
48		-	later than 180 days after the date of the enact-6
49		-	ment of this paragraph and every year there-7
50		-	after for 5 years, the President shall— 8
51		-	‘‘(i) determine whether any— 9
52		-	‘‘(I) Chinese financial institution 10
53		-	has engaged in a significant financial 11
54		-	transaction as described in paragraph 12
55		-	(1)(A)(i); and 13
56		-	‘‘(II) financial institution has en-14
57		-	gaged in a significant financial trans-15
58		-	action as described in paragraph 16
59		-	(1)(A)(ii); and 17
60		-	‘‘(ii) transmit the determination under 18
61		-	clause (i) to the Committee on Financial 19
62		-	Services of the House of Representatives 20 4
63		-	•HR 5923 EH
64		-	and the Committee on Banking, Housing, 1
65		-	and Urban Affairs of the Senate.’’. 2
66		-	Passed the House of Representatives April 15, 2024.
67		-	Attest:
68		-	Clerk. 118
	61	+	N GENERAL.—For the purpose of 18
	62	+	paragraph (1)(A), a ‘significant financial trans-19
	63	+	action’ includes any transaction by a Chinese fi-20
	64	+	nancial institution (without regard to the size, 21
	65	+	number, frequency, or nature of the transaction) 22
	66	+	involving the purchase of petroleum or petroleum 23
	67	+	products from Iran. 24
	68	+	VerDate Sep 11 2014 00:16 Dec 20, 2023 Jkt 049200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6203 E:\BILLS\H5923.RH H5923 4
	69	+	•HR 5923 RH
	70	+	‘‘(B) DETERMINATION REQUIRED .—Not 1
	71	+	later than 180 days after the date of the enact-2
	72	+	ment of this paragraph and every year thereafter 3
	73	+	for 5 years, the President shall— 4
	74	+	‘‘(i) determine whether any Chinese fi-5
	75	+	nancial institution has engaged in a sig-6
	76	+	nificant financial transaction as described 7
	77	+	in paragraph (1)(A); and 8
	78	+	‘‘(ii) transmit the determination under 9
	79	+	clause (i) to the Committee on Financial 10
	80	+	Services of the House of Representatives and 11
	81	+	the Committee on Banking, Housing, and 12
	82	+	Urban Affairs of the Senate.’’. 13
	83	+	VerDate Sep 11 2014 00:16 Dec 20, 2023 Jkt 049200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6203 E:\BILLS\H5923.RH H5923 VerDate Sep 11 2014 00:16 Dec 20, 2023 Jkt 049200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6203 E:\BILLS\H5923.RH H5923 Union Calendar No.
	84	+	272
	85	+	118
69	86		TH
70	87		CONGRESS
71		-	2
72		-	D
	88	+	1
	89	+	ST
73	90		S
74	91		ESSION
75	92
76	93		H. R. 5923
77		-	AN ACT
	94	+	[Report No. 118–333]
	95	+	A BILL
78	96		To impose restrictions on correspondent and pay-
79	97		able-through accounts in the United States with
80	98		respect to Chinese financial institutions that con-
81	99		duct transactions involving the purchase of petro-
82	100		leum or petroleum products from Iran.
	101	+	D
	102	+	ECEMBER
	103	+	19, 2023
	104	+	Reported with an amendment, committed to the Com-
	105	+	mittee of the Whole House on the State of the Union,
	106	+	and ordered to be printed
	107	+	VerDate Sep 11 2014 00:16 Dec 20, 2023 Jkt 049200 PO 00000 Frm 00006 Fmt 6651 Sfmt 6651 E:\BILLS\H5923.RH H5923