To amend the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to provide for the imposition of sanctions with respect to the National Iranian Oil Company and the National Iranian Tanker Company.
Latest action. Referred to the subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on International monetary policyCentral bank action on interest rates and the money supply to influence inflation and employment. Distinct from fiscal policy, which is taxing and spending.Read the full definition (opens a new tab) and Trade.
Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to direct the Secretary of the Treasury to determine whether the National Iranian Oil Company (NIOC) or the National Iranian Tanker Company (NITC) is an agent or affiliate of Iran's Islamic Revolutionary Guard Corps (IRGC) and submit such determination to Congress.
Applies, 180 days after the enactment of the National Defense Authorization Act for Fiscal Year 2012 (P.L. 112-81), specified prohibitions and conditions on U.S. correspondent or payable-through accounts of foreign financial institutions that engage in petroleum or petroleum product transactions with, or provide related financial services to, the NIOC or NITC if the President determines that there is a sufficient supply of non-Iranian petroleum and petroleum product sources to permit purchasers of Iranian petroleum and petroleum products to reduce significantly their purchases from Iran.
Exempts from such provision foreign financial institutions from a country that has significantly reduced its crude oil purchases from Iran.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on January 31, 2012. 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 February 9, 2012: Referred to the Subcommittee on International Monetary Policy and Trade.
- 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 112th Congress (2011-12), 283 of the 10,618 bills and joint resolutions introduced became law, about 2.7 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?
HOWARD BERMAN (D-CA) introduced it on January 31, 2012, and 3 members have since signed on as cosponsors.
They are 3 Democrats.
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 January 31, 2012, 5336 days ago. The most recent recorded action was 5327 days ago, on February 9, 2012.
Measures do not carry over. Anything the 112th Congress has not finished by January 3, 2013 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