Section 1 Export prohibition
The Secretary of the Treasury may not issue a license for the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran.
To prohibit the Secretary of the Treasury from issuing certain licenses in connection with the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran, to require annual reports by the Secretary of the Treasury and the Export-Import Bank on financing issues related to the sale or lease of such a commercial passenger aircraft or spare parts for such an aircraft, and for other purposes.
A BILL
Sec. 2 Treasury report on financing
The Secretary of the Treasury shall issue an annual report to the Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate—
stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft or spare parts for such aircraft to the Islamic Republic of Iran by a non-U.S. manufacturer, and whether any such involvement is with respect to a commercial passenger aircraft or spare parts comprising 10 percent or more U.S. content; and
containing a description of the risks related to repayment, money laundering, and the financing of terrorism faced by U.S. financial institutions if they were to be involved in the sale or lease of a commercial passenger aircraft to the Islamic Republic of Iran.
Sec. 3 Export-Import Bank report
The Export-Import Bank shall issue an annual report to the Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate on the Bank’s assistance for exports that may be used in connection with the sale or lease of passenger aircraft and spare parts for such aircraft to the Islamic Republic of Iran by a non-U.S. manufacturer, and whether any such assistance for exports may be used in connection with a commercial passenger aircraft or spare parts comprising 10 percent or more U.S. content