Iran Sanctions Enabling Act of 2007
Latest action. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Iran Sanctions Enabling Act of 2007 - (Sec. 3) Directs the President to ensure biannual publication in the Federal Register of a list of each person that: (1) has an investment of more than $20 million in the energy sector in Iran; (2) sells arms to the government of Iran; or (3) is a financial institution that extends $20 million or more in credit for 45 days or more to the government of Iran.
Instructs the President to use only publicly available (including proprietary) information when compiling such list.
Requires the list to: (1) describe to the extent practicable the investment made by each listed person, including dollar value, intended purpose, and status as of the date of publication; and (2) be updated and published on a government website.
Declares it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in: (1) persons that have investments of more than $20 million in Iran's energy sector; (2) persons that sell arms to the government of Iran; and (3) financial institutions that extend $20 million or more in credit for 45 days or more to the government of Iran.
Authorizes a governmental entity to adopt and enforce measures to divest its assets from, or prohibit investment of assets in a person that: (1) is included on the most recent list; (2) sells arms to the government of Iran; (3) is a financial institution that extends $20 million or more in credit for 45 days or more to the government of Iran; or (4) is included on a state or local government-authorized list of entities invested in or doing business in or with Iran.
(Sec. 5) Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based solely upon its divesting from, or avoiding investing in, securities issued by companies included on such most recent list.
The summary continues for 2 more paragraphs. Read it in full on Congress.gov
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Passed House amended" stage on July 31, 2007. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on August 3, 2007: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 110th Congress (2007-08), 460 of the 11,228 bills and joint resolutions introduced became law, about 4.1 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
BARNEY FRANK (D-MA) introduced it on May 16, 2007, and 44 members have since signed on as cosponsors.
They come from both major parties: 27 Democrats, 17 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on May 16, 2007, 7057 days ago. The most recent recorded action was 6978 days ago, on August 3, 2007.
Measures do not carry over. Anything the 110th Congress has not finished by January 3, 2009 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers