H.R. 4898 — Introduced in House

I 114th CONGRESS 2d Session H. R. 4898 IN THE HOUSE OF REPRESENTATIVES April 11, 2016 Mr. Trott introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit the Department of the Treasury from issuing licenses to permit offshore dollar clearing outside of the United States financial system for transactions involving or benefitting Iran. 1. Short title This Act may be cited as the No Dollars for Iran Act. 2. Prohibition on certain licenses for offshore dollar clearing related to Iran The Secretary of the Treasury may not issue any license under the Iranian Transactions and Sanctions Regulations (31 C.F.R. Part 560), or under any other law, to permit a person to conduct offshore dollar clearing outside of the United States financial system for transactions involving or benefitting, directly or indirectly, the government of Iran or any Iranian person.