H.R. 5715 — Introduced in House

I 114th CONGRESS 2d Session H. R. 5715 IN THE HOUSE OF REPRESENTATIVES July 11, 2016Mr. Roskam (for himself and Mr. Sherman) introduced the following bill; which was referred to the Committee on Financial Services A BILL To prohibit the Export-Import Bank of the United States from providing financing that would benefit Iran. 1. Short title This Act may be cited as the No Ex-Im Assistance for Terrorism Act. 2. Prohibition on Export-Import Bank financing that would benefit Iran Section 2(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)) is amended by adding at the end the following: (14) Prohibition on financing that would benefit Iran (A) Direct financing The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph by— (i) the Government of Iran or an entity owned or controlled by the Government of Iran; or (ii) an entity created under Iranian law. (B) Indirect financing The Bank shall not guarantee, insure, or extend (or participate in an extension of) credit in connection with any transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph involving— (i) an entity for the purpose of a transaction involving the Government of Iran or an entity referred to in subparagraph (A); or (ii) a non-United States entity that, in the 5-year period ending with the date of the enactment of this paragraph, has leased or re-exported aircraft to the Government of Iran or an entity referred to in subparagraph (A) in contravention of United States law. (C) Cancellation of approved financing The Bank shall cease the provision of financial assistance approved by the Bank in connection with a transaction with respect to which credit assistance from the Bank is first sought after the effective date of this paragraph, on finding that the assistance has facilitated the export or re-export of an aircraft to Iran, and shall seek immediate recovery of any amount provided by the Bank in connection with the transaction. .