Us Congress 2025-2026 Regular Session

Us Congress House Bill HB348 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 348
5	5	To require a report on oligarchs and parastatal entities of Iran, and for
6	6	other purposes.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	JANUARY13, 2025
9	9	Mr. K
10	10	USTOFF(for himself and Mr. GOTTHEIMER) introduced the following
11	11	bill; which was referred to the Committee on Foreign Affairs, and in ad-
12	12	dition to the Committee on Financial Services, for a period to be subse-
13	13	quently determined by the Speaker, in each case for consideration of such
14	14	provisions as fall within the jurisdiction of the committee concerned
15	15	A BILL
16	16	To require a report on oligarchs and parastatal entities of
17	17	Iran, and for other purposes.
18	18	Be it enacted by the Senate and House of Representa-1
19	19	tives of the United States of America in Congress assembled, 2
20	20	SECTION 1. SHORT TITLE. 3
21	21	This Act may be cited as the ‘‘Stop Corrupt Iranian 4
22	22	Oligarchs and Entities Act’’. 5
23	23	SEC. 2. REPORT ON OLIGARCHS AND PARASTATAL ENTI-6
24	24	TIES OF IRAN. 7
25	25	(a) I
26	26	NGENERAL.—Not later than 180 days after the 8
27	27	date of the enactment of this Act, the Secretary of the 9
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30	30	•HR 348 IH
31	31	Treasury, in consultation with the Director of National In-1
32	32	telligence and the Secretary of State, shall submit to the 2
33	33	appropriate congressional committees a detailed report on 3
34	34	the following: 4
35	35	(1) Senior foreign political figures and oligarchs 5
36	36	in Iran, including the following: 6
37	37	(A) An identification of the most signifi-7
38	38	cant senior foreign political figures and 8
39	39	oligarchs in Iran, as determined by the close-9
40	40	ness to the Iranian Government of each such 10
41	41	figure and oligarch, and the estimated net 11
42	42	worth of each such figure and oligarch. 12
43	43	(B) An assessment of the relationship be-13
44	44	tween the individuals identified under subpara-14
45	45	graph (A) and President Masoud Pezeshkian or 15
46	46	other members of the Iranian ruling elite. 16
47	47	(C) An identification of any indices of cor-17
48	48	ruption with respect to such individuals. 18
49	49	(D) Known sources of income of such indi-19
50	50	viduals and their family members (including 20
51	51	spouses, children, parents, and siblings), includ-21
52	52	ing relevant beneficial ownership information. 22
53	53	(E) An identification of the non-Iranian 23
54	54	business affiliations of such individuals. 24
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57	57	•HR 348 IH
58	58	(2) Iranian parastatal entities, including an as-1
59	59	sessment of the following: 2
60	60	(A) The emergence of Iranian parastatal 3
61	61	entities and their role in the economy of Iran. 4
62	62	(B) The leadership structures and bene-5
63	63	ficial ownership of such entities. 6
64	64	(C) An identification of the non-Iranian 7
65	65	business affiliations of such entities. 8
66	66	(3) Information relating to the exposure of key 9
67	67	economic sectors of the United States, including, at 10
68	68	minimum, the banking, securities, insurance, and 11
69	69	real estate sectors, to Iranian politically affiliated 12
70	70	persons, Iranian parastatal entities, and Iranian 13
71	71	State-owned enterprises. 14
72	72	(4) Information relating to the likely effects of 15
73	73	imposing debt and equity restrictions on Iranian 16
74	74	parastatal entities, as well as the anticipated effects 17
75	75	of adding Iranian parastatal entities to the list of 18
76	76	Specially Designated Nationals maintained by the 19
77	77	Office of Foreign Assets Control of the Department 20
78	78	of the Treasury. 21
79	79	(5) Information relating to the potential im-22
80	80	pacts of imposing sanctions or debt and equity re-23
81	81	strictions in addition to any such sanctions or re-24
82	82	strictions in existence as of the date of the enact-25
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85	85	•HR 348 IH
86	86	ment of this Act on Iranian oligarchs, Iranian 1
87	87	parastatal entities, or Iranian State-owned enter-2
88	88	prises, including impacts on such oligarchs, entities, 3
89	89	and enterprises and on the economy of Iran, as well 4
90	90	as on the economies of the United States and United 5
91	91	States allies. 6
92	92	(b) F
93	93	ORM.—The report required under subsection (a) 7
94	94	shall be submitted in an unclassified form, but may con-8
95	95	tain a classified annex. 9
96	96	(c) D
97	97	EFINITIONS.—In this section: 10
98	98	(1) A
99	99	PPROPRIATE CONGRESSIONAL COMMIT -11
100	100	TEES.—The term ‘‘appropriate congressional com-12
101	101	mittees’’ means— 13
102	102	(A) the Committee on Foreign Affairs, the 14
103	103	Committee on Financial Services, and the Com-15
104	104	mittee on Ways and Means of the House of 16
105	105	Representatives; and 17
106	106	(B) the Committee on Banking, Housing, 18
107	107	and Urban Affairs, the Committee on Foreign 19
108	108	Relations, and the Committee on Finance of the 20
109	109	Senate. 21
110	110	(2) I
111	111	RANIAN PARASTATAL ENTITIES .—The term 22
112	112	‘‘Iranian parastatal entities’’ means entities— 23
113	113	(A) in which Iranian State ownership is at 24
114	114	least 25 percent; and 25
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117	117	•HR 348 IH
118	118	(B) that had 2016 revenues of approxi-1
119	119	mately $2,000,000,000 or more. 2
120	120	(3) S
121	121	ENIOR FOREIGN POLITICAL FIGURE .—The 3
122	122	term ‘‘senior foreign political figure’’ has the mean-4
123	123	ing given such term in section 1010.605 of title 31, 5
124	124	Code of Federal Regulations (or any corresponding 6
125	125	similar regulation or ruling). 7
126	126	Æ
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