No U.S. Financing for Iran Act of 2023
Where it stands
- Introduced10/11/23
- Passed HousePassed 4/15/24
- Senate
- President
- Law
Passed the House 294–105 on April 15, 2024 (Roll Call 123 →). Received in the Senate on April 16, 2024. No Senate action since.
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Roll calls on this bill
- Democratic88 Yea · 104 Nay · 21 Not voting
- Republican206 Yea · 1 Nay · 11 Not voting
- Independent / Other0 Yea · 0 Nay · 0 Not voting
No U.S. Financing for Iran Act of 2023
This bill prohibits certain actions related to exports, imports, and financing with respect to Iran.
Specifically, the bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the importation from or exportation to Iran of goods, services, or technology. This prohibition does not apply to the sale of agricultural commodities, food, medicine, medical devices, or humanitarian assistance benefitting the civilian population of Iran.
The bill requires Treasury to instruct U.S. representatives to the International Monetary Fund (IMF) to (1) oppose IMF financial assistance, and the allocation of Special Drawing Rights (SDR), to Iran; and (2) seek to ensure that IMF member countries prohibit the exchange of SDR held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Further, the bill provides statutory authority for the prohibition on Export-Import Bank financing with respect to Iran.
The bill's provisions shall be in effect until the earlier of (1) 30 days after the President certifies to Congress that Iran has ceased providing support for acts of international terrorism and is not a jurisdiction of primary money laundering concern, or (2) 10 years after this bill's enactment.
30
10/11/23
What happens next
The Senate must pass the same text, then it goes to the President.
If it isn't enacted by Jan 3, 2025, it expires when the 118th Congress ends.
All actions (15)
- 10/11/23Introduced in House
- 10/25/23Referred to the House Committee on Financial Services.
- 11/14/23Committee Consideration and Mark-up Session Held
- 11/14/23Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 34 - 12.
- 12/19/23Reported (Amended) by the Committee on Financial Services. H. Rept. 118-332.
- 12/19/23Placed on the Union Calendar, Calendar No. 271.
- 4/15/24Mr. McHenry moved to suspend the rules and pass the bill, as amended.
- 4/15/24Considered under suspension of the rules. (consideration: CR H2376-2378)
- 4/15/24DEBATE - The House proceeded with forty minutes of debate on H.R. 5921.
- 4/15/24At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- 4/15/24Considered as unfinished business. (consideration: CR H2384-2385)
- 4/15/24Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
- 4/15/24On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
- 4/15/24Motion to reconsider laid on the table Agreed to without objection.
- 4/16/24Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.