H.R. 1327House111th Congress (2009-2011)Passed House

Iran Sanctions Enabling Act of 2009

Introduced March 5, 2009

Legislative Activity

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16 earlier actions
SenateIntro Referral Latest Action

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

October 15, 2009

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HouseIntro Referral

Introduced in House

March 5, 2009

HouseIntro Referral

Referred to the House Committee on Financial Services.

March 5, 2009

HouseCommittee

Referred to the Subcommittee on International Monetary Policy and Trade.

March 5, 2009

HouseCommittee

Subcommittee Hearings Held.

March 12, 2009

HouseCommittee

Subcommittee on International Monetary Policy and Trade Discharged.

April 28, 2009

HouseCommittee

Committee Consideration and Mark-up Session Held.

April 28, 2009

HouseCommittee

Ordered to be Reported (Amended) by Voice Vote.

April 28, 2009

HouseFloor

Mr. Frank (MA) moved to suspend the rules and pass the bill, as amended.

October 13, 2009 • 3:36 PM

HouseFloor

Considered under suspension of the rules. (consideration: CR H11191-11195)

October 13, 2009 • 3:36 PM

HouseFloor

DEBATE - The House proceeded with forty minutes of debate on H.R. 1327.

October 13, 2009 • 3:36 PM

HouseFloor

DEBATE - The House resumed debate on H.R. 1327.

October 13, 2009 • 3:49 PM

HouseFloor

At 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.

October 13, 2009 • 3:54 PM

HouseFloor

Considered as unfinished business. (consideration: CR H11351-11352)

October 14, 2009 • 3:15 PM

HouseFloor

Passed/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): 414 - 6 (Roll no. 776).(text: CR 10/13/2009 H11191-11192)

October 14, 2009 • 3:27 PM

HouseFloor

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 6 (Roll no. 776). (text: CR 10/13/2009 H11191-11192)

October 14, 2009 • 3:27 PM

HouseFloor

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

October 14, 2009 • 3:27 PM

SenateIntro Referral

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

October 15, 2009

Floor Debate

22 members

What members said about H.R. 1327 on the floor

7 Republicans15 Democrats
Dennis J. Kucinich
Rep. Dennis J. KucinichD-OH-10 · Dec 15, 2009

Mr. Speaker, I claim time in opposition. Mr. Speaker, reserving the right to object, what we are saying is that in my friend's interest of making sure that there is an opportunity for Members to…

Aaron Schock
Rep. Aaron SchockR-IL-18 · Sep 29, 2009

Thank you, Mr. Speaker. We come together tonight to talk about a very important issue and a very important relationship that we enjoy with our only true democratic ally in the Middle East, the State…

John Fleming
Rep. John FlemingR-LA-4 · Sep 29, 2009

I thank my friend and the gentleman from Illinois (Mr. Schock). The three of us here this evening spent really an awesome time in Israel during August. But I want to take you back in time, Mr.…

Ron Paul
Rep. Ron PaulR-TX-14 · Dec 15, 2009

The chairman states that the main purpose of this bill is to prevent the Iranians from getting a nuclear weapon. That isn't even as powerful a statement as was made that enticed us into the Iraq war.…

Howard L. Berman
Rep. Howard L. BermanD-CA-28 · Dec 15, 2009

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2194) to amend the Iran Sanctions Act of 1996 to enhance United States diplomatic efforts with respect to Iran by expanding economic…

Show 8 more
Glenn Thompson
Rep. Glenn ThompsonR-PA-5 · Sep 29, 2009

I thank my good friend from Illinois for yielding and thank him for coordinating this time tonight when we truly do talk about our most important ally, a friend that we have and a good democratic…

Gwen Moore
Rep. Gwen MooreD-WI-4 · Dec 15, 2009

Madam Speaker, I am concerned about Iran's irresponsible violations both of its commitments under the Nuclear Nonproliferation Treaty, NPT, and its agreements which it signed with the International…

Barney Frank
Rep. Barney FrankD-MA-4 · Oct 13, 2009

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 3606) to amend the Truth in Lending Act to make a technical correction to an amendment made by the Credit CARD Act of 2009. Mr.…

Barney Frank
Rep. Barney FrankD-MA-4 · Oct 13, 2009

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 1327) to authorize State and local governments to direct divestiture from, and prevent investment in, companies with investments of…

Ike Skelton
Rep. Ike SkeltonD-MO-4 · Oct 13, 2009

Mr. Speaker, during the August District Work Period, I traveled extensively throughout Missouri's Fourth Congressional district, meeting with residents who were eager to share their views on a…

Ileana Ros-Lehtinen
Rep. Ileana Ros-LehtinenR-FL-18 · Dec 15, 2009

No, I do not oppose the motion. Mr. Speaker, I yield myself such time as I may consume. Since its secret nuclear weapons program was publicly exposed in 2002, Iran has manipulated nations, world…

Steny H. Hoyer
Rep. Steny H. HoyerD-MD-5 · Dec 15, 2009

I thank the chairman for yielding. I want to thank the chairman, and I want to thank Congresswoman Ros-Lehtinen for her leadership as well. Madam Speaker, every Member of this Chamber understands the…

Earl Blumenauer
Rep. Earl BlumenauerD-OR-3 · Dec 15, 2009

I thank the gentleman from Ohio for permitting me to speak on this. I have great respect for the Chair and ranking member, and I deeply share their concern about a nuclear-armed Iran. It is something…

Show 11 more
Sheila Jackson Lee
Rep. Sheila Jackson LeeD-TX-18 · Oct 14, 2009

Mr. Speaker, today, I rise in support of H.R. 1327, the ``Iran Sanctions Enabling Act of 2009.'' This legislation, if enacted, will enhance U.S. capacity to further isolate Iran and pressure the…

Theodore E. Deutch
Rep. Theodore E. DeutchD-FL-19 · Apr 21, 2010

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the subject of this Special Order. Mr.…

Chris Van Hollen
Rep. Chris Van HollenD-MD-8 · Oct 13, 2009

Mr. Speaker, earlier this month, Iran admitted the existence of a secret enrichment facility in the holy city of Qom. This development has set in motion a renewed commitment on the part of the…

Alan Grayson
Rep. Alan GraysonD-FL-8 · Apr 21, 2010

Mr. Speaker, I rise today to commemorate the 62nd Anniversary of Israel's Independence. Yom Ha'atzmaut, as it is called in Hebrew, allows us in the American Jewish Community to pay tribute to Israel…

Eni F. H. Faleomavaega
Rep. Eni F. H. FaleomavaegaD-AS · May 4, 2009

Mr. Speaker, again, I thank my good friend from New Jersey for yielding. Mr. Speaker, I rise today in strong support of House Concurrent Resolution 111, the legislation which expresses the sense of…

Sheila Jackson Lee
Rep. Sheila Jackson LeeD-TX-18 · Dec 15, 2009

Madam Speaker, I rise in support of H.R. 2194, the Iran Refined Petroleum Sanctions Act of 2009. This legislation provides another tool for the President to prevent Iran from developing nuclear…

Glenn C. Nye
Rep. Glenn C. NyeD-VA-2 · Apr 21, 2010

Mr. Speaker, on behalf of Dr. Israel Zoberman, founding rabbi of Congregation Beth Chaverim in Virginia Beach, Virginia, this passage shall be recorded in the Congressional Record of the United…

Henry A. Waxman
Rep. Henry A. WaxmanD-CA-30 · Apr 21, 2010

Mr. Speaker, this week, Israel marks the 62nd anniversary of the historic date in the Hebrew calendar when the British Mandate over Palestine expired and a modern Jewish state was reborn. Each year,…

Erik Paulsen
Rep. Erik PaulsenR-MN-3 · Oct 13, 2009

Mr. Speaker, I also rise today in strong support for H.R. 1327, the Iran Sanctions Enabling Act of 2009. The author of this legislation, Chairman Frank, deserves a great deal of credit for helping…

Rush Holt
Rep. Rush HoltD-NJ-12 · Apr 21, 2010

Mr. Speaker, it is with great pleasure that I rise today to congratulate our friend and ally, the State of Israel, on the 62nd anniversary of her founding. A week ago, I had the honor of attending…

John Boozman
Rep. John BoozmanR-AR-3 · May 4, 2009

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, as we, today, commemorate 61 years of Israeli independence, we commemorate and celebrate so much more. We celebrate 61 years of…

Bill Text

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Referred in SenateIssued October 15, 2009

IIB

111th CONGRESS

1st Session

H. R. 1327

IN THE SENATE OF THE UNITED STATES

October 15, 2009

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

To authorize State and local governments to direct divestiture from, and prevent investment in, companies with investments of $20,000,000 or more in Iran’s energy sector, and for other purposes.

1.

Short title

This Act may be cited as the Iran Sanctions Enabling Act of 2009.

2.

Findings

The Congress finds as follows:

(1)

There is an increasing interest by States, local governments, educational institutions, and private institutions to seek to disassociate themselves from companies that directly or indirectly support the Government of Iran’s efforts to achieve a nuclear weapons capability.

(2)

Policy makers and fund managers may find moral, prudential, or reputational reasons to divest from companies that accept the business risk of operating in countries that are subject to international economic sanctions or that have business relationships with countries, governments, or entities with which any United States company would be prohibited from dealing because of economic sanctions imposed by the United States.

3.

Authority of State and local governments to divest from certain companies invested in Iran’s energy sector

(a)

Statement of policy

It is the policy of the United States to support the decision of State governments, local governments, and educational institutions to divest from, and to prohibit the investment of assets they control in, persons that have investments of more than $20,000,000 in Iran’s energy sector.

(b)

Authority to divest

Notwithstanding any other provision of law, a State or local government may adopt and enforce measures that meet the requirements of subsection (d) to divest the assets of the State or local government from, or prohibit investment of the assets of the State or local government in, any person that the State or local government determines, using credible information available to the public, engages in investment activities in Iran described in subsection (c).

(c)

Investment activities in Iran described

A person engages in investment activities in Iran described in this subsection if the person—

(1)

has an investment of $20,000,000 or more in the energy sector of Iran;

(2)

provides oil or liquified natural gas tankers, or products used to construct or maintain pipelines used to transport oil or liquified natural gas, for the energy sector in Iran; or

(3)

is a financial institution that extends $20,000,000 or more in credit to another person, for 45 days or more, if that person will use the credit to invest in the energy sector in Iran.

(d)

Requirements

The requirements referred to in subsection (b) that a measure taken by a State or local government must meet are the following:

(1)

Notice

The State or local government shall provide written notice to each person to whom the State or local government, as the case may be, intends to apply the measure, of such intent.

(2)

Timing

The measure shall apply to a person not earlier than the date that is 90 days after the date on which the person receives the written notice required by paragraph (1).

(3)

Opportunity for hearing

The State or local government shall provide each person referred to in paragraph (1) with an opportunity to demonstrate to the State or local government, as the case may be, that the person does not engage in investment activities in Iran described in subsection (c). If the person demonstrates to the State or local government that the person does not engage in investment activities in Iran described in subsection (c), the measure shall not apply to the person.

(4)

Sense of the Congress on avoiding erroneous targeting

It is the sense of the Congress that a State or local government should not adopt a measure under subsection (b) with respect to a person unless the State or local government has made every effort to avoid erroneously targeting the person and has verified that the person engages in investment activities in Iran described in subsection (c).

(e)

Notice to Department of Justice

Not later than 30 days after adopting a measure pursuant to subsection (b), a State or local government shall submit to the Attorney General of the United States a written notice which describes the measure.

(f)

Nonpreemption

A measure of a State or local government authorized under subsection (b), or described in subsection (i), is not preempted by any Federal law or regulation.

(g)

Definitions

In this section:

(1)

Investment

The investment of assets, with respect to a State or local government, includes—

(A)

a commitment or contribution of assets;

(B)

a loan or other extension of credit; or

(C)

the entry into or renewal of a contract for goods or services.

(2)

Assets

(A)

In general

Except as provided in subparagraph (B), the term assets refers to public monies and includes any pension, retirement, annuity, or endowment fund, or similar instrument, that is controlled directly or indirectly by a State or local government.

(B)

Exception

The term assets does not include employee benefit plans covered by title I of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001 et seq.).

(h)

Effective date

(1)

In general

Except as provided in paragraph (2) of this subsection and subsection (i), this section shall apply to measures adopted by a State or local government on or after the date of the enactment of this Act.

(2)

Notice requirements

Subsections (d) and (e) apply to measures adopted by a State or local government on or after the date of the enactment of this Act.

(i)

Authorization for Prior Enacted Measures

Notwithstanding any other provision of law, a State or local government may enforce a measure (without regard to the requirements of subsection (d)) adopted by the State or local government before the date of the enactment of this Act that provides for the divestiture of assets of the State or local government from, or prohibits the investment of the assets of the State or local government in, any person that the State or local government determines, using credible information available to the public, engages in investment or business activities in Iran (determined without regard to subsection (c)) identified in the measure.

4.

Safe harbor for changes of investment policies by asset managers

Section 13(c)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a–13(c)(1)) is amended to read as follows:

(1)

In general

Solely for purposes of this subsection, and notwithstanding any other provision of Federal or State law, no person may bring any civil, criminal, or administrative action against any registered investment company, or any employee, officer, director, or investment adviser thereof, based solely upon the investment company divesting from, or avoiding investing in, securities issued by persons that the investment company determines, using credible information that is available to the public, conduct or have direct investments in business operations in Sudan described in section 3(d) of the Sudan Accountability and Divestment Act of 2007 or engage in investment activities in Iran described in section 3(c) of the Iran Sanctions Enabling Act of 2009. Nothing in this paragraph shall be construed to create, imply, diminish, change, or affect in any way the existence of a private cause of action under any other provision of this Act.

.

5.

Safe harbor for changes of investment policies by employee benefit plans

Section 404 of the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1104) is amended by adding at the end the following new subsection:

(e)

No person shall be treated as breaching any of the responsibilities, obligations, or duties imposed upon fiduciaries by this title for divesting plan assets from, or avoiding investing plan assets in, persons that are determined by such person, using credible information that is available to the public, to be engaged in investment activities in Iran described in section 3(c) of the Iran Sanctions Enabling Act of 2009. Any divestiture of plan assets from, or avoidance of investing plan assets in, persons that are so determined to be engaged in such investment activities shall be treated as in accordance with this title and the documents and instruments governing the plan.

.

6.

Definitions

In this title:

(1)

Energy sector

The term energy sector refers to activities to develop petroleum or natural gas resources or nuclear power.

(2)

Financial institution

The term financial institution has the meaning given that term in section 14(5) of the Iran Sanctions Act of 1996 (Public Law 104–172; 50 U.S.C. 1701 note).

(3)

Iran

The term Iran includes any agency or instrumentality of Iran.

(4)

Person

The term person means—

(A)

a natural person, corporation, company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group;

(B)

any governmental entity or instrumentality of a government, including a multilateral development institution (as defined in section 1701(c)(3) of the International Financial Institutions Act (22 U.S.C. 262r(c)(3))); and

(C)

any successor, subunit, parent company, or subsidiary of, or company under common ownership or control with, any entity described in subparagraph (A) or (B).

(5)

State

The term State means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands.

(6)

State or local government

The term State or local government includes—

(A)

any State and any agency or instrumentality thereof;

(B)

any local government within a State, and any agency or instrumentality thereof;

(C)

any other governmental instrumentality; and

(D)

any public institution of higher education within the meaning of the Higher Education Act of 1965 (20 U.S.C. 1001 et seq.).

7.

Sunset

This Act shall terminate 30 days after the date on which the President has certified to the Congress that—

(1)

the Government of Iran has ceased providing support for acts of international terrorism and no longer satisfies the requirements for designation as a state-sponsor of terrorism for purposes of section 6(j) of the Export Administration Act of 1979, section 620A of the Foreign Assistance Act of 1961, section 40 of the Arms Export Control Act, or any other provision of law; or

(2)

Iran has ceased the pursuit, acquisition, and development of nuclear, biological, and chemical weapons and ballistic missiles and ballistic missile launch technology.

Passed the House of Representatives October 14, 2009.

Lorraine C. Miller,

Clerk.