US Codex
Bill
Notes

H.R. 5461 — what changed

Iranian Leadership Asset Transparency Act

From Reported in House to Engrossed in House. 1 section amended between Reported in House and Engrossed in House.

Sec. 3 Report requirement relating to assets of Iranian leaders and certain senior political figures

(a)
In general— Not later than 270 days after the date of enactment of this Act, and annually thereafter (or more frequently if the Secretary of the Treasury determines it appropriate based on new information received by the Secretary) for the following 2 years, the Secretary of the Treasury shall, in furtherance of the Secretary’s efforts to prevent the financing of terrorism, money laundering, or related illicit finance and to make financial institutions’ required compliance with remaining sanctions more easily understood, submit a report to the appropriate congressional committees containing—
(1)
the estimated total funds or assets held in accounts at U.S. and foreign financial institutions that are under direct or indirect control by each natural person described in subsection (b) and a description of such assets;
(2)
an identification of any equity stake such natural person has in an entity on the Department of the Treasury's list of Specially Designated Nationals or in any other sanctioned entity;
(3)
changed a description of how such funds or assets or equity interests were acquired, and how they have been used or employed; andemployed;
(4)
changed a description of any new methods or techniques used to evade anti-money laundering and related laws, including recommendations to improve techniques to combat illicit uses of the U.S. financial system by each natural person described in subsection (b).(b);
(5)
added recommendations for how U.S. economic sanctions against Iran may be revised to prevent the funds or assets described under this subsection from being used by the natural persons described in subsection (b) to contribute to the continued development, testing, and procurement of ballistic missile technology by Iran;
(6)
added a description of how the Department of the Treasury assesses the impact and effectiveness of U.S. economic sanctions programs against Iran; and
(7)
added recommendations for improving the ability of the Department of the Treasury to rapidly and effectively develop, implement, and enforce additional economic sanctions against Iran if so ordered by the President under the International Emergency Economic Powers Act or other corresponding legislation.
(b)
Persons described— The natural persons described in this subsection are the following:
(1)
The Supreme Leader of Iran.
(2)
The President of Iran.
(3)
Members of the Council of Guardians.
(4)
Members of the Expediency Council.
(5)
The Minister of Intelligence and Security.
(6)
The Commander and the Deputy Commander of the IRGC.
(7)
The Commander and the Deputy Commander of the IRGC Ground Forces.
(8)
The Commander and the Deputy Commander of the IRGC Aerospace Force.
(9)
The Commander and the Deputy Commander of the IRGC Navy.
(10)
The Commander of the Basij-e-Mostaz’afin.
(11)
The Commander of the Qods Force.
(12)
The Commander in Chief of the Police Force.
(13)
The head of the IRGC Joint Staff.
(14)
The Commander of the IRGC Intelligence.
(15)
The head of the IRGC Imam Hussein University.
(16)
The Supreme Leader’s Representative at the IRGC.
(17)
The Chief Executive Officer and the Chairman of the IRGC Cooperative Foundation.
(18)
The Commander of the Khatam-al-Anbia Construction Head Quarter.
(19)
The Chief Executive Officer of the Basij Cooperative Foundation.
(20)
The head of the Political Bureau of the IRGC.
(21)
added The head of the Atomic Energy Organization of Iran.
(c)
Form of report; public availability—
(1)
Form— The report required under subsection (a) shall be submitted in unclassified form but may contain a classified annex.
(2)
Public availability— The unclassified portion of such report shall be made available to the public and posted on the website of the Department of the Treasury—
(A)
in English, Farsi, Arabic, and Azeri; and
(B)
in precompressed, easily downloadable versions that are made available in all appropriate formats.
(d)
Sources of information— In preparing a report described under subsection (a), the Secretary of the Treasury may utilize any credible publication, database, web-based resource, and any credible information compiled by any government agency, nongovernmental organization, or other entity provided to or made available to the Secretary.
(e)
Definitions— For purposes of this section:
(1)
changed Appropriate congressional committees— The term “appropriate congressional committees” means the Committee Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committee Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate.
(2)
Funds— The term “funds” means—
(A)
cash;
(B)
equity;
(C)
any other intangible asset whose value is derived from a contractual claim, including bank deposits, bonds, stocks, a security as defined in section 2(a) of the Securities Act of 1933 (15 U.S.C. 77b(a)), or a security or an equity security as defined in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)); and
(D)
anything else that the Secretary determines appropriate.