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No U.S. Financing for Iran Act of 2023

USA118th CongressHR-5921| House 
| Updated: 4/16/2024
Bill Huizenga

Bill Huizenga

Republican Representative

Michigan

Cosponsors (30)
Adrian Smith (Republican)Guy Reschenthaler (Republican)Richard McCormick (Republican)Gregory F. Murphy (Republican)Scott Franklin (Republican)Zachary Nunn (Republican)Keith Self (Republican)Andrew Ogles (Republican)John James (Republican)Andrew R. Garbarino (Republican)Maria Elvira Salazar (Republican)Lloyd Smucker (Republican)Barry Loudermilk (Republican)Daniel Meuser (Republican)Andy Barr (Republican)Christopher H. Smith (Republican)Ann Wagner (Republican)Roger Williams (Republican)Nicholas A. Langworthy (Republican)John H. Rutherford (Republican)August Pfluger (Republican)Blaine Luetkemeyer (Republican)Byron Donalds (Republican)Russell Fry (Republican)Randy Feenstra (Republican)Bill Posey (Republican)Monica De La Cruz (Republican)Michael Lawler (Republican)Ralph Norman (Republican)Nick LaLota (Republican)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
No U.S. Financing for Iran Act of 2023 This bill prohibits certain actions related to exports, imports, and financing with respect to Iran. Specifically, the bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the importation from or exportation to Iran of goods, services, or technology. This prohibition does not apply to the sale of agricultural commodities, food, medicine, medical devices, or humanitarian assistance benefitting the civilian population of Iran. The bill requires Treasury to instruct U.S. representatives to the International Monetary Fund (IMF) to (1) oppose IMF financial assistance, and the allocation of Special Drawing Rights (SDR), to Iran; and (2) seek to ensure that IMF member countries prohibit the exchange of SDR held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.) Further, the bill provides statutory authority for the prohibition on Export-Import Bank financing with respect to Iran. The bill's provisions shall be in effect until the earlier of (1) 30 days after the President certifies to Congress that Iran has ceased providing support for acts of international terrorism and is not a jurisdiction of primary money laundering concern, or (2) 10 years after this bill's enactment.

Bill Text Versions

View Text
4 versions available

Suggested Questions

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Timeline

Bill from Previous Congress

HR 117-7402
No U.S. Financing for Iran Act of 2022
Oct 11, 2023
Introduced in House
Oct 25, 2023
Referred to the House Committee on Financial Services.
Nov 14, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 34 - 12.
Nov 14, 2023
Committee Consideration and Mark-up Session Held
Dec 19, 2023
Placed on the Union Calendar, Calendar No. 271.
Dec 19, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-332.
Apr 15, 2024
Mr. McHenry moved to suspend the rules and pass the bill, as amended.
Apr 15, 2024
Considered under suspension of the rules. (consideration: CR H2376-2378)
Apr 15, 2024
DEBATE - The House proceeded with forty minutes of debate on H.R. 5921.
Apr 15, 2024
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.
Apr 15, 2024
Considered as unfinished business. (consideration: CR H2384-2385)
Apr 15, 2024
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
View Vote
Apr 15, 2024
Motion to reconsider laid on the table Agreed to without objection.
Apr 16, 2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 117-7402
    No U.S. Financing for Iran Act of 2022


  • October 11, 2023
    Introduced in House


  • October 25, 2023
    Referred to the House Committee on Financial Services.


  • November 14, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 34 - 12.


  • November 14, 2023
    Committee Consideration and Mark-up Session Held


  • December 19, 2023
    Placed on the Union Calendar, Calendar No. 271.


  • December 19, 2023
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-332.


  • April 15, 2024
    Mr. McHenry moved to suspend the rules and pass the bill, as amended.


  • April 15, 2024
    Considered under suspension of the rules. (consideration: CR H2376-2378)


  • April 15, 2024
    DEBATE - The House proceeded with forty minutes of debate on H.R. 5921.


  • April 15, 2024
    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.


  • April 15, 2024
    Considered as unfinished business. (consideration: CR H2384-2385)


  • April 15, 2024
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
    View Vote


  • April 15, 2024
    Motion to reconsider laid on the table Agreed to without objection.


  • April 16, 2024
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Foreign Trade and International Finance

Export-Import Bank of the United StatesForeign aid and international reliefInternational monetary system and foreign exchangeIranMiddle EastTrade restrictions

No U.S. Financing for Iran Act of 2023

USA118th CongressHR-5921| House 
| Updated: 4/16/2024
No U.S. Financing for Iran Act of 2023 This bill prohibits certain actions related to exports, imports, and financing with respect to Iran. Specifically, the bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the importation from or exportation to Iran of goods, services, or technology. This prohibition does not apply to the sale of agricultural commodities, food, medicine, medical devices, or humanitarian assistance benefitting the civilian population of Iran. The bill requires Treasury to instruct U.S. representatives to the International Monetary Fund (IMF) to (1) oppose IMF financial assistance, and the allocation of Special Drawing Rights (SDR), to Iran; and (2) seek to ensure that IMF member countries prohibit the exchange of SDR held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.) Further, the bill provides statutory authority for the prohibition on Export-Import Bank financing with respect to Iran. The bill's provisions shall be in effect until the earlier of (1) 30 days after the President certifies to Congress that Iran has ceased providing support for acts of international terrorism and is not a jurisdiction of primary money laundering concern, or (2) 10 years after this bill's enactment.

Bill Text Versions

View Text
4 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 117-7402
No U.S. Financing for Iran Act of 2022
Oct 11, 2023
Introduced in House
Oct 25, 2023
Referred to the House Committee on Financial Services.
Nov 14, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 34 - 12.
Nov 14, 2023
Committee Consideration and Mark-up Session Held
Dec 19, 2023
Placed on the Union Calendar, Calendar No. 271.
Dec 19, 2023
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-332.
Apr 15, 2024
Mr. McHenry moved to suspend the rules and pass the bill, as amended.
Apr 15, 2024
Considered under suspension of the rules. (consideration: CR H2376-2378)
Apr 15, 2024
DEBATE - The House proceeded with forty minutes of debate on H.R. 5921.
Apr 15, 2024
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.
Apr 15, 2024
Considered as unfinished business. (consideration: CR H2384-2385)
Apr 15, 2024
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
View Vote
Apr 15, 2024
Motion to reconsider laid on the table Agreed to without objection.
Apr 16, 2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Bill from Previous Congress

    HR 117-7402
    No U.S. Financing for Iran Act of 2022


  • October 11, 2023
    Introduced in House


  • October 25, 2023
    Referred to the House Committee on Financial Services.


  • November 14, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 34 - 12.


  • November 14, 2023
    Committee Consideration and Mark-up Session Held


  • December 19, 2023
    Placed on the Union Calendar, Calendar No. 271.


  • December 19, 2023
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-332.


  • April 15, 2024
    Mr. McHenry moved to suspend the rules and pass the bill, as amended.


  • April 15, 2024
    Considered under suspension of the rules. (consideration: CR H2376-2378)


  • April 15, 2024
    DEBATE - The House proceeded with forty minutes of debate on H.R. 5921.


  • April 15, 2024
    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.


  • April 15, 2024
    Considered as unfinished business. (consideration: CR H2384-2385)


  • April 15, 2024
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 294 - 105 (Roll no. 123). (text: CR H2376)
    View Vote


  • April 15, 2024
    Motion to reconsider laid on the table Agreed to without objection.


  • April 16, 2024
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Bill Huizenga

Bill Huizenga

Republican Representative

Michigan

Cosponsors (30)
Adrian Smith (Republican)Guy Reschenthaler (Republican)Richard McCormick (Republican)Gregory F. Murphy (Republican)Scott Franklin (Republican)Zachary Nunn (Republican)Keith Self (Republican)Andrew Ogles (Republican)John James (Republican)Andrew R. Garbarino (Republican)Maria Elvira Salazar (Republican)Lloyd Smucker (Republican)Barry Loudermilk (Republican)Daniel Meuser (Republican)Andy Barr (Republican)Christopher H. Smith (Republican)Ann Wagner (Republican)Roger Williams (Republican)Nicholas A. Langworthy (Republican)John H. Rutherford (Republican)August Pfluger (Republican)Blaine Luetkemeyer (Republican)Byron Donalds (Republican)Russell Fry (Republican)Randy Feenstra (Republican)Bill Posey (Republican)Monica De La Cruz (Republican)Michael Lawler (Republican)Ralph Norman (Republican)Nick LaLota (Republican)

Financial Services Committee, Banking, Housing, and Urban Affairs Committee

Foreign Trade and International Finance

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Export-Import Bank of the United StatesForeign aid and international reliefInternational monetary system and foreign exchangeIranMiddle EastTrade restrictions