.United States House of Representative

SEC. 2. UNITED STATES POLICY TOWARD IRAN.

• Findings- Congress finds the following:

1. The prospect of the Islamic Republic of Iran achieving nuclear arms represents a grave threat to the United States and its allies in the Middle East, Europe, and globally.
2. The nature of this threat is manifold, ranging from the vastly enhanced political influence extremist Iran would wield in its region, including the ability to intimidate its neighbors, to, at its most nightmarish, the prospect that Iran would attack its neighbors and others with nuclear arms. This concern is illustrated by the statement of Hashemi Rafsanjani, former president of Iran and currently a prominent member of two of Iran's most important decision-making bodies, of December 14, 2001, when he said that it `is not irrational to contemplate' the use of nuclear weapons.
3. The theological nature of the Iranian regime creates a special urgency in addressing Iran's efforts to acquire nuclear weapons.
4. Iranian regime leaders have persistently denied Israel's right to exist. Current President Mahmoud Ahmadinejad has called for Israel to be `wiped off the map'.
5. The nature of the Iranian threat makes it critical that the United States and its allies do everything possible--diplomatically, politically, and economically--to prevent Iran from acquiring nuclear-arms capability and persuade the Iranian regime to halt its quest for nuclear arms.

• Sense of Congress- It is the sense of Congress that--

1. Iranian President Ahmadinejad's persistent denials of the Holocaust and his repeated assertions that Israel should be `wiped off the map' may constitute a violation of the Convention on the Prevention and Punishment of the Crime of Genocide and should be brought before an appropriate international tribunal for the purpose of declaring Iran in breach of the Genocide Convention;
2. the United States should increase use of its important role in the international financial sector to isolate Iran;
3. Iran should be barred from entering the World Trade Organization (WTO) until all issues related to its nuclear program are resolved;
4. all future free trade agreements involving Iran should be conditioned on the requirement that the parties to such agreements pledge not to invest and not to allow companies based on its territory or controlled by its citizens to invest in Iran's energy sector or otherwise to make significant investment in Iran;
5. United Nations Security Council Resolution 1737 (December 23, 2006), which was passed unanimously and mandates an immediate and unconditional suspension of Iran's nuclear enrichment program, represents a critical gain in the world-wide campaign to prevent Iran's acquisition of nuclear arms and should be fully respected by all nations;
6. the United Nations Security Council should take further measures beyond Resolution 1737 to tighten sanctions on Iran, including preventing new investment in Iran's energy sector, as long as Iran fails to comply with the international community's demand to halt its nuclear enrichment campaign;
7. the United States should encourage foreign governments to direct state owned entities to cease all investment in Iran's energy sector and all exports of refined petroleum products to Iran and to persuade, and, where possible, require private entities based in their territories to cease all investment in Iran's energy sector and all exports of refined petroleum products to Iran;
8. moderate Arab states have a vital and perhaps existential interest in preventing Iran from acquiring nuclear arms, and therefore such states, particularly those with large oil deposits, should use their economic leverage to dissuade other nations, including the Russian Federation and the People's Republic of China, from assisting Iran's nuclear program directly or indirectly and to persuade other nations, including Russia and China, to be more forthcoming in supporting United Nations Security Council efforts to halt Iran's nuclear program;
9. the United States should take all possible measures to discourage and, if possible, prevent foreign banks from providing export credits to foreign entities seeking to invest in the Iranian energy sector;
10. the United States should oppose any further activity by the International Bank for Reconstruction and Development with respect to Iran, or the adoption of a new Country Assistance Strategy for Iran, including by seeking the cooperation of other countries;
11. the United States should extend its program of discouraging foreign banks from accepting Iranian state banks as clients;
12. the United States should prohibit all Iranian state banks from using the United States banking system;
13. United States federal pension plans should divest themselves of all non-United States companies investing more than $20 million in Iran's energy sector;
14. State and local government pension plans should divest themselves of all non-United States companies investing more than $20 million in Iran's energy sector;
15. the United States should designate the Islamic Revolutionary Guards Corps, which purveys terrorism throughout the Middle East and plays an important role in the Iranian economy, as a foreign terrorist organization under section 219 of the Immigration and Nationality Act, place the Islamic Revolutionary Guards Corps on the list of specially designated global terrorists, and place the Islamic Revolutionary Guards Corps on the list of weapons of mass destruction proliferators and their supporters; and
16. United States concerns regarding Iran are strictly the result of actions of the Government of Iran; and
17. the American people have feelings of friendship for the Iranian people, regret that developments of recent decades have created impediments to that friendship, and hold the Iranian people, their culture, and their ancient and rich history in the highest esteem.

TITLE I--SUPPORT FOR DIPLOMATIC EFFORTS RELATING TO PREVENTING IRAN FROM ACQUIRING NUCLEAR WEAPONS

SEC. 101. SUPPORT FOR INTERNATIONAL DIPLOMATIC EFFORTS

It is the sense of Congress that--

1. the United States should use diplomatic and economic means to resolve the Iranian nuclear problem;
2. the United States should continue to support efforts in the International Atomic Energy Agency and the United Nations Security Council to bring about an end to Iran's uranium enrichment program and its nuclear weapons program; and
3. (A) United Nations Security Council Resolution 1737 was a useful first step toward pressing Iran to end its nuclear weapons program; and
4. (B) in light of Iran's continued defiance of the international community, the United Nations Security Council should adopt additional measures against Iran, including measures to prohibit investments in Iran's energy sector.

SEC. 102. PEACEFUL EFFORTS BY THE UNITED STATES

Nothing in this Act shall be construed as authorizing the use of force or the use of the United States Armed Forces against Iran.

TITLE II--ADDITIONAL BILATERAL SANCTIONS AGAINST IRAN

SEC. 201. APPLICATION TO SUBSIDIARIES.

• In General- In any case in which an entity engages in an act outside the United States which, if committed in the United States or by a United States person, would violate Executive Order No. 12959 of May 6, 1995, Executive Order No. 13059 of August 19, 1997, or any other prohibition on transactions with respect to Iran that is imposed under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) and if that entity was created or availed of for the purpose of engaging in such an act, the parent company of that entity shall be subject to the penalties for such violation to the same extent as if the parent company had engaged in that act.
• Definitions- In this section--

1. an entity is a `parent company' of another entity if it owns, directly or indirectly, more than 50 percent of the equity interest in that other entity and is a United States person; and
2. the term `entity' means a partnership, association, trust, joint venture, corporation, or other organization.

SEC. 202. ADDITIONAL IMPORT SANCTIONS AGAINST IRAN.

Effective on the date of the enactment of this Act--

1. Licenses to export or reexport goods, services, or technology relating to civil aviation that are otherwise authorized by section 560.528 of title 31, Code of Federal Regulations, as in effect on March 5, 2007, may not be issued, and any such license issued before such date of enactment is no longer valid; and
2. goods, services, or technology described in paragraph (1) may not be exported or reexported.

TITLE III--AMENDMENTS TO THE IRAN SANCTIONS ACT OF 1996

Section 4(b) of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended to read as follows:

• Reports to Congress- Not later than 6 months after the date of the enactment of the Iran Counter-Proliferation Act of 2007 and every six months thereafter, the President shall submit to the appropriate congressional committees a report regarding specific diplomatic efforts undertaken pursuant to subsection (a), the results of those efforts, and a description of proposed diplomatic efforts pursuant to such subsection. Each report shall include--

1. a list of the countries that have agreed to undertake measures to further the objectives of section 3 with respect to Iran;
2. a description of those measures, including--

• government actions with respect to public or private entities (or their subsidiaries) located in their territories, that are engaged in Iran;
• any decisions by the governments of these countries to rescind or continue the provision of credits, guarantees, or other governmental assistance to these entities; and
• actions taken in international fora to further the objectives of section 3;

1. a list of the countries that have not agreed to undertake measures to further the objectives of section 3 with respect to Iran, and the reasons therefor; and
2. a description of any memorandums of understanding, political understandings, or international agreements to which the United States has acceded which affect implementation of this section or section 5(a).'.

SEC. 302. MANDATORY SANCTIONS.

Section 5(a) of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended by striking `2 or more of the sanctions described in paragraphs (1) through (6) of section 6' and inserting `the sanction described in paragraph (5) of section 6 and, in addition, one or more of the sanctions described in paragraphs (1), (2), (3), (4), and (6) of such section'.

SEC. 303. UNITED STATES EFFORTS TO PREVENT INVESTMENT.

Section 5 of the Iran Sanctions Act of 1996 is amended by adding the following new subsection at the end:

(g) United States Efforts to Address Planned Investment-

1. REPORTS ON INVESTMENT ACTIVITY- Not later than January 30, 2008, and every 6 months thereafter, the President shall transmit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a report on investment and pre-investment activity, by any person or entity, that could contribute to the enhancement of Iran's ability to develop petroleum resources in Iran. For each such activity, the President shall provide a description of the activity, any information regarding when actual investment may commence, and what steps the United States has taken to respond to such activity.
2. DEFINITION- In this subsection--

• the term `investment' includes the extension by a financial institution of credit or other financing to a person for that person's investment; and
• the term `pre-investment activity' means any activity indicating an intent to make an investment, including a memorandum of understanding among parties indicating such an intent.'

SEC. 304. CLARIFICATION AND EXPANSION OF DEFINITIONS.

Person- Section 14(13)(B) of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended--

1. by inserting after `trust,' the following: `financial institution, insurer, underwriter, guarantor, any other business organization, including any foreign subsidiaries of the foregoing,'; and
2. by inserting before the semicolon the following: `, such as an export credit agency'.

Petroleum Resources- Section 14(14) of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended by inserting after `petroleum' the second place it appears, the following: `, petroleum by-products, liquefied natural gas, the sale of oil or liquefied natural gas tankers,'.

SEC. 305. REMOVAL OF WAIVER AUTHORITY.

Six-Month Waiver Authority- Section 4 of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended-

1. in subsection (d)(1), by striking `except those with respect to which the President has exercised the waiver authority under subsection (c)';
2. by striking subsection (c); and
3. by redesignating subsections (d), (e), and (f) as subsections (c), (d), and (e), respectively.

General Waiver Authority- Section 9 of the Iran Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended by striking subsection (c).

Construction- The amendments made by this section shall not be construed to affect any exercise of the authority of section 4(c) or section 9(c) of the Iran Sanctions Act of 1996 as in effect on the day before the date of the enactment of this Act.

TITLE IV--ADDITIONAL MEASURES

SEC. 401. ADDITIONS TO TERRORISM AND OTHER LISTS.

Determinations and Report- Not later than 120 days after the date of the enactment of this Act, the President shall--

1. determine whether the Islamic Revolutionary Guards Corps should be--

• designated as a foreign terrorist organization under section 219 of the Immigration and Nationality Act (8 U.S.C. 1189);
• placed on the list of specially designated global terrorists; and
• placed on the list of weapons of mass destruction proliferators and their supporters; and

1. report the determinations under paragraph (1) to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate, including, if the President determines that such Corps should not be so designated or placed on either such list, the justification for the President's determination.

Definitions- In this section--

1. the term `specially designated global terrorist' means any person included on the Annex to Executive Order 13224, of September 23, 2001, and any other person identified under section 1 of that Executive order whose property and interests in property are blocked by that section; and
2. the term `weapons of mass destruction proliferators and their supporters' means any person included on the Annex to Executive Order 13382, of June 28, 2005, and any other person identified under section 1 of that Executive order whose property and interests in property are blocked by that section.ease remove the Event ( it's old). Do not delete page. I will forward a new one.