Section 1 Short title
This Act may be cited as the “No Ex-Im Assistance for Terrorism Act”.
No Ex-Im Assistance for Terrorism Act
A BILL
To prohibit the Export-Import Bank of the United States from providing financing that would benefit Iran.
Sec. 2 Prohibition on Export-Import Bank financing that would benefit Iran
Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)) is amended by adding at the end the following:
“(14) Prohibition on financing that would benefit Iran
“(A) Direct financing—The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph by—
“(i) the Government of Iran or an entity owned or controlled by the Government of Iran; or
“(ii) an entity created under Iranian law, or a foreign subsidiary of such an entity.
“(B) Indirect financing—The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph involving—
“(i) an entity for the purpose of a transaction involving the Government of Iran or an entity referred to in subparagraph (A); or
“(ii) a non-United States entity that, in the 5-year period ending with the date of the enactment of this paragraph, has leased or re-exported sold aircraft to the Government of Iran or an entity referred to in subparagraph (A) in contravention of United States law, or a subsidiary or controlling parent of such a non-United States entity.
“(C) Cancellation of approved financing—The Bank shall cease the provision of financial assistance approved by the Bank in connection with a transaction with respect to which credit assistance from the Bank is first sought approved after the effective date of this paragraph, on finding that the assistance has facilitated the export or re-export export, sale, or lease of an aircraft to Iran an entity referred to in subparagraph (A), and shall seek immediate recovery of any amount provided by the Bank in connection with the transaction.”