II
110th CONGRESS
1st Session
S. 527
IN THE SENATE OF THE UNITED STATES
February 8, 2007
Mr. Feingold (for himself and Mr. Kyl) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations
A BILL
To make amendments to the Iran, North Korea, and Syria Nonproliferation Act.
Short title
This Act may be cited as
the Iran, North Korea, and Syria
Nonproliferation Enforcement Act of 2007
.
Sanctions applicable under the Iran, North Korea, and Syria Nonproliferation Act
Application of certain measures
Section 3 of the Iran, North Korea, and Syria Nonproliferation Act (Public Law 106–178, as amended; 50 U.S.C. 1701 note) is amended—
by amending subsection (a) to read as follows:
Application of measures
Subject to sections 4 and 5, the President shall apply, for a period of not less than 2 years, the measures described in subsection (b) with respect to—
each foreign person identified in a report submitted pursuant to section 2(a);
all successors, subunits, and subsidiaries of each such foreign person; and
any entity (if operating as a business enterprise) that owns more than 50 percent of, or controls in fact, any such foreign person and any successors, subunits, and subsidiaries of such entity.
;
in subsection (b)—
by amending paragraph (1) to read as follows:
Executive Order 12938 prohibitions
The measures set forth in subsections (b), (c), and (d) of section 4 of Executive Order 12938 (50 U.S.C. 1701 note; relating to proliferation of weapons of mass destruction).
;
in paragraph (2)—
by
striking to that foreign person
; and
by
striking to that person
;
in paragraph (3),
by striking to that person
; and
by adding at the end the following new paragraphs:
Investment prohibition
Prohibition on any new investment by a United States person in property, including entities, owned or controlled by—
that foreign person;
any entity (if operating as a business enterprise) that owns more than 50 percent of, or controls in fact, such foreign person; or
any successor, subunit, or subsidiary of such entity.
Financing prohibition
Prohibition on any approval, financing, or guarantee by a United States person, wherever located, of a transaction by—
that foreign person;
any entity (if operating as a business enterprise) that owns more than 50 percent of, or controls in fact, such foreign person; or
any successor, subunit, or subsidiary of such entity.
Financial assistance prohibition
Denial by the United States Government of any credit, credit guarantees, grants, or other financial assistance by any department, agency, or instrumentality of the United States Government to—
that foreign person;
any entity (if operating as a business enterprise) that owns more than 50 percent of, or controls in fact, such foreign person; and
any successor, subunit, or subsidiary of such entity.
; and
by amending subsection (d) to read as follows:
Publication in Federal Register
In general
The application of measures pursuant to subsection (a) shall be announced by notice published in the Federal Register.
Content
Each notice published pursuant to paragraph (1) shall include the name and address (where known) of each person or entity to whom measures have been applied pursuant to subsection (a).
.
National security waiver
Section 4 of such Act is amended to read as follows:
Waiver on basis of national security
In general
The President may waive the imposition of any sanction that would otherwise be required under section 3 on any person or entity 15 days after the President determines and reports to the Committee on International Relations of the House of Representatives and the Committee on Foreign Relations of the Senate that such waiver is essential to the national security of the United States.
Written justification
The determination and report of the President under subsection (a) shall include a written justification—
describing in detail the circumstances and rationale supporting the President’s conclusion that the waiver is essential to the national security of the United States; and
identifying—
the name and address (where known) of the person or entity to whom the waiver is applied pursuant to subsection (a);
the specific goods, services, or technologies, the transfer of which would have required the imposition of measures pursuant to section 3 if the President had not invoked the waiver authority under subsection (a); and
the name and address (where known) of the recipient of such transfer.
Form
The written justification shall be submitted in unclassified form, but may contain a classified annex.
.