,i #aadth ,,congress #b;d ,session ,h4 ,r4 #dddh ,,in ,,the ,,house ,,of ,,representatives ,february #c1 #bjaf ,mr4 ,de,santis 7for himself1 ,mr4 ,lamborn1 ,mr4 ,crenshaw1 ,mr4 ,rokita1 ,mr4 ,smith of ,texas1 ,mr4 ,rohrabacher1 ,mr4 ,harper1 ,mr4 ,bishop of ,michigan1 ,mr4 ,ross1 ,mr4 ,collins of ,new ,york1 ,mr4 ,des,jarlais1 ,mr4 ,yoho1 ,mr4 ,salmon1 ,mr4 ,clawson of ,florida1 ,mr4 ,weber of ,texas1 ,mr4 ,perry1 ,mr4 ,meadows1 ,mr4 ,jordan1 ,mr4 ,zeldin1 ,mr4 ,walker1 and ,ms4 ,mc,sally7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to amend the ,comprehensive ,iran ,sanctions1 ,accountability1 and ,divestment ,act of #bjaj to secure the authority of ,state and local governments to adopt and enforce measures restricting investment in business enterprises in ,iran1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,state ,sanctions ,against ,iranian ,terrorism ,act4 #b4 ,authority of ,state and local governments to restrict investment activities in ,iran 7a7 ,additional authority ,section #bjb of the ,comprehensive ,iran ,sanctions1 ,accountability1 and ,divestment ,act of #bjaj 7#bb ,u4,s4,c4 #hecb7 is amended as follows3 7#a7 ,subsection 7a7 is amended-- 7,a7 by striking should support and inserting should not interfere with2 and 7,b7 by striking in the energy sector of ,iran and all that follows through ,united ,states and inserting in the business sector in ,iran1 or prohibits or limits any person from engaging in investment activities in the business sector of ,iran1 until such time as all ,federal laws that either expressly authorize or require the imposition of sanctions by the ,federal ,government on ,iran are rescinded by an ,act or ,acts of ,congress4 7#b7 ,subsection 7b7 is amended-- 7,a7 by amending the subsection heading to read as follows3 7b7 ,authority ,to restrict investment in ,iran 2 7,b7 by striking may adopt and enforce measures that meet and inserting may-- 7#a7 adopt and enforce measures-- 7,a7 that meet 2 7,c7 by moving the remaining text of subsection 7b7 #d ems to the right2 7,d7 by striking subsection 7c74 and inserting subsection 7c72 or2 and 7,e7 by adding at the end the following3 7,b7 to prohibit or limit any person from engaging in investment activities in ,iran described in subsection 7c72 and 7#b7 enter into interstate compacts regarding measures described in paragraph 7#a74 ,enforcement of measures under this subsection may include the imposition of disclosure and other transparency requirements to carry out paragraph 7#a74 4 7#c7 ,subsection 7c7 is amended-- 7,a7 in paragraph 7#a7-- 7i7 by striking #bj1jjj1jjj or more in the energy sector and inserting #aj1jjj1jjj or more-- 7,a7 in the energy sector 2 7ii7 by moving the remaining text of paragraph 7#a7 #b ems to the right2 and 7iii7 by adding at the end the following3 7,b7 in any other business enterprise in ,iran1 including an entity that is owned or controlled by the ,government of ,iran2 or 2 and 7,b7 in paragraph 7#b7-- 7i7 by striking #bj1jjj1jjj and inserting #aj1jjj1jjj2 and 7ii7 by adding after energy sector of ,iran the following3 or otherwise in a business enterprise in ,iran1 including an entity that is owned or controlled by the ,government of ,iran4 7#d7 ,subsection 7f7 is amended to read as follows3 7f7 ,nonpreemption2 no conflict with ,u4,s4 ,foreign and ,international ,commerce ,policy ,a measure of a ,state or local government authorized under subsection 7b71 7i71 or 7j7-- 7#a7 is authorized and not preempted by any ,federal law or regulation1 or any policy1 agreement1 or exercise of waiver authority of the executive branch2 and 7#b7 is consistent with ,united ,states ,federal policy1 including ,united ,states foreign policy4 4 7#e7 ,subsection 7g7 is amended by adding at the end the following3 7#c7 ,own or control ,the term own or control means1 with respect to an entity-- 7,a7 to hold more than #bj percent of the equity interest by vote or value in the entity2 7,b7 to hold a majority of seats on the board of directors of the entity2 or 7,c7 to otherwise control the actions1 policies1 or personnel decisions of the entity4 4 7#f7 ,subsection 7h7 is amended-- 7,a7 in paragraph 7#a71 by striking or subsection 7i7 and inserting and subsections 7i7 and 7j72 and 7,b7 in paragraph 7#b71 by striking subsection 7i7 and inserting subsections 7i7 and 7j74 7#g7 ,subsection 7i7 is amended by adding at the end the following3 7#c7 ,applicability of prior provisions ,paragraphs 7#a7 and 7#b7 apply with respect to this section as in effect on the day before the effective date of the ,state ,sanctions ,against ,iranian ,terrorism ,act4 4 7#h7 ,section #bjb is further amended-- 7,a7 by redesignating subsection 7j7 as subsection 7k72 and 7,b7 by inserting after subsection 7i7 the following3 7j7 ,applicability of amendments 7#a7 ,in general ,notwithstanding any other provision of this section or any other provision of law1 a ,state or local government may enforce a measure 7without regard to the requirements of subsection 7d71 except as provided in paragraph 7#b77 adopted by the ,state or local government before the date of the enactment of the ,state ,sanctions ,against ,iranian ,terrorism ,act 7other than a measure covered by subsection 7i77 that-- 7,a7 provides for the divestment of assets of the ,state or local government from1 or prohibits the investment of the assets of the ,state or local government in1 any person that the ,state or local government determines1 using credible information available to the public1 engages in investment activities in ,iran 7determined without regard to subsection 7c77 or other business activities in ,iran that are identified in the measure2 or 7,b7 prohibits or limits any person from engaging in investment activities in ,iran described in subsection 7c74 7#b7 ,application of notice requirements ,a measure described in paragraph 7#a7 shall be subject to the requirements of paragraphs 7#a7 and 7#b7 and the first sentence of paragraph 7#c7 of subsection 7d7 on and after the date that is #b years after the date of the enactment of the ,state ,sanctions ,against ,iranian ,terrorism ,act4 4 7b7 ,exemption from sunset ,section #dja7;a7 of the ,comprehensive ,iran ,sanctions1 ,accountability1 and ,divestment ,act of #bjaj 7#bb ,u4,s4,c4 #hee7;a77 is amended1 in the matter preceding paragraph 7#a71 by striking sections #aje and #cje and inserting sections #aje1 #bjb1 and #cje4 7c7 ,conforming amendments 7#a7 ,the heading for title ,,ii of the ,comprehensive ,iran ,sanctions1 ,accountability1 and ,divestment ,act of #bjaj 7#bb ,u4,s4,c4 #heca et seq47 is amended to read as follows3 ,,ii ,restrictions by ,state and ,local ,governments on ,investment ,activities in ,iran 4 7#b7 ,the heading for section #bjb of the ,comprehensive ,iran ,sanctions1 ,accountability1 and ,divestment ,act of #bjaj 7#bb ,u4,s4,c4 #hecb7 is amended to read as follows3 #bjb4 ,authority of ,state and local governments to restrict investment activities in ,iran 4 7#c7 ,the table of contents of the ,comprehensive ,iran ,sanctions1 ,accountability1 and ,divestment ,act of #bjaj 7#bb ,u4,s4,c4 #heja et seq47 is amended-- 7,a7 by amending the item relating to title ,,ii to read as follows3 ,title ,,ii--,restrictions by ,state and ,local ,governments on ,investment in ,iran 2 and 7,b7 by amending the item relating to section #bjb to read as follows3 ,sec4 #bjb4 ,authority of ,state and local governments to restrict investment activities in ,iran4 4 #c4 ,effective date ,the amendments made by this ,act shall apply to measures adopted by a ,state or local government on or after the date of the enactment of this ,act1 except as provided in section #bjb7;j7 of the ,comprehensive ,iran ,sanctions1 ,accountability1 and ,divestment ,act of #bjaj1 as amended by this ,act4