Explanation of Bill H.R. 5132

H.R. 5132 - Iranian Revolutionary Guard Corps Economic Exclusion Act

This bill, introduced by Mr. Royce of California and Mr. Engel, aims to impose additional sanctions on Iran's Revolutionary Guard Corps and other related entities. The bill was introduced to the House of Representatives on March 1, 2018 and has been referred to several committees for consideration. The official title of this act is the "Iranian Revolutionary Guard Corps Economic Exclusion Act".

Section 1: Short Title

This section states that the bill may also be referred to as the "Iranian Revolutionary Guard Corps Economic Exclusion Act".

Section 2: Additional Sanctions with respect to foreign persons

This section focuses on imposing additional sanctions on foreign persons who are officials, agents, or affiliates of, or owned or controlled by, Iran's Revolutionary Guard Corps (IRGC). It amends the Iran Threat Reduction and Syria Human Rights Act of 2012 to provide for such sanctions. This section specifies certain procedures and requirements for the identification and investigation of these foreign persons. It also outlines the reporting requirements for the President regarding these sanctions.

Section 3: Additional Sanctions with respect to foreign persons that support or conduct certain transactions

This section further expands on the imposition of sanctions, but this time focusing on foreign persons that support or conduct certain transactions with Iran's Revolutionary Guard Corps or other sanctioned persons. Similar to the previous section, it amends the Iran Threat Reduction and Syria Human Rights Act of 2012 and provides procedures and requirements for the identification and investigation of these foreign persons. It also outlines the reporting requirements for the President regarding these sanctions.

Section 4: Reports on certain Iranian persons

This section introduces reporting requirements on certain Iranian persons. It requires the President to submit a report to the appropriate congressional committees that contains information on foreign persons listed on the Tehran Stock Exchange, foreign persons operating business enterprises in Iran, and Iranian financial institutions. The report should include determinations of whether these entities are owned or controlled by Iran's Revolutionary Guard Corps or any foreign persons affiliated with it, or if they have engaged in certain activities.

Section 5: Application of sanctions regarding Mahan Air

This section specifically targets Mahan Air, an airline that has been associated with Iran's Revolutionary Guard Corps. It requires the President to submit a report on any activities of Iranian state-owned enterprises that violate Executive Order 13224, which imposes sanctions on persons that assist or support terrorism.

Section 6: Statement of policy on prevention of accession of Iran to World Trade Organization

This section establishes the policy of the United States to prevent Iran from becoming a member of the World Trade Organization until the Secretary of State determines that Iran is no longer supporting acts of international terrorism. It specifically refers to provisions of existing laws that address this issue.

Rep. Karen Handel

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