,i #aagth ,,congress #ast ,session ,h4 ,r4 #deib ,,in ,,the ,,house ,,of ,,representatives ,july #ba1 #bjba,mr4 ,hill 7for himself and ,mr4 ,lawson of ,florida7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to require the ,president to report on financial institutions' involvement with officials of the ,iranian ,government1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,holding ,iranian ,leaders ,accountable ,act of #bjba4 #b4 ,findings ,the ,congress finds the following3 7#a7 ,iran is characterized by high levels of official and institutional corruption1 and substantial involvement by ,iran's security forces1 particularly the ,islamic ,revolutionary ,guard ,corps 7,,irgc71 in the economy4 7#b7 ,in #bjai1 the ,department of the ,treasury concluded that ,iran is a jurisdiction of primary money laundering concern and imposed restrictions on correspondent accounts in the ,united ,states involving ,iranian financial institutions4 7#c7 ,in ,june #bjai1 the ,financial ,action ,task ,force 7,,fatf7 urged all jurisdictions to require increased supervisory examination for branches and subsidiaries of financial institutions based in ,iran4 ,the ,,fatf later called upon its members to introduce enhanced relevant reporting mechanisms or systematic reporting of financial transactions1 and require increased external audit requirements1 for financial groups with respect to any of their branches and subsidiaries located in ,iran4 7#d7 ,the ,transparency ,international index of perceived public corruption ranks ,iran #achth out of #ahj countries surveyed4 7#e7 ,according to the ,state ,department's ,country ,reports on ,terrorism in #bjah1 ,iran remains the world's worst state sponsor of terrorism4 ,the regime has spent nearly one billion dollars per year to support terrorist groups that serve as its proxies and expand its malign influence across the globe4 ,tehran has funded international terrorist groups such as ,hizballah1 ,hamas1 and ,palestinian ,islamic ,jihad44 #c4 ,report on financial institutions connected to certain ,iranian officials 7a7 ,financial institutions report 7#a7 ,in general ,not later than #ahj days after the date of the enactment of this ,act1 and annually thereafter for #b years1 the ,president shall submit a report to the appropriate ,members of ,congress containing-- 7,a7 the estimated total funds held in financial institutions that are under direct or indirect control by each of five or more of the natural persons described under subsection 7b71 and a description of such funds2 and 7,b7 a list of any financial institutions that-- 7i7 maintain an account in connection with significant funds described in subparagraph 7,a72 or 7ii7 knowingly provide significant financial services to a natural person covered by the report4 7#b7 ,briefing required ,not later than #fj days after submitting a report described under paragraph 7#a71 the ,secretary of the ,treasury1 or a designee of the ,secretary1 shall brief the appropriate ,members of ,congress on the funds covered by the report1 including a description of how the funds were acquired1 and any illicit or corrupt means employed to acquire or use the funds4 7#c7 ,exemptions ,the requirements described under paragraph 7#a7 may not be applied with respect to a natural person or a financial institution1 as the case may be1 if the ,president determines3 7,a7 ,the funds described under subparagraph 7,a7 of paragraph 7#a7 were primarily acquired through legal or noncorrupt means4 7,b7 ,the natural person has agreed to provide significant cooperation to the ,united ,states for an important national security or law enforcement purpose with respect to ,iran4 7,c7 ,a financial institution that would otherwise be listed in the report required by paragraph 7#a7 has agreed to-- 7i7 no longer maintain an account described under subparagraph 7,c77i7 of paragraph 7#a72 7ii7 no longer provide significant financial services to a natural person covered by the report2 or 7iii7 provide significant cooperation to the ,united ,states for an important national security or law enforcement purpose with respect to ,iran4 7#d7 ,waiver ,the ,president may waive for up to #a year at a time any requirement under paragraph 7#a7 with respect to a natural person or a financial institution after reporting in writing to the appropriate ,members of ,congress that the waiver is in the national interest of the ,united ,states1 with a detailed explanation of the reasons therefor4 7b7 ,persons described ,the natural persons described in this subsection are the following3 7#a7 ,the ,supreme ,leader of ,iran4 7#b7 ,the ,president of ,iran4 7#c7 ,members of the ,council of ,guardians4 7#d7 ,members of the ,expediency ,council4 7#e7 ,the ,minister of ,intelligence and ,security4 7#f7 ,the ,commander and the ,deputy ,commander of the ,,irgc4 7#g7 ,the ,commander and the ,deputy ,commander of the ,,irgc ,ground ,forces4 7#h7 ,the ,commander and the ,deputy ,commander of the ,,irgc ,aerospace ,force4 7#i7 ,the ,commander and the ,deputy ,commander of the ,,irgc ,navy4 7#aj7 ,the ,commander of the ,basij-e-,mostaz'afin4 7#aa7 ,the ,commander of the ,qods ,force4 7#ab7 ,the ,commander in ,chief of the ,police ,force4 7#ac7 ,the head of the ,,irgc ,joint ,staff4 7#ad7 ,the ,commander of the ,,irgc ,intelligence4 7#ae7 ,the head of the ,,irgc ,imam ,hussein ,university4 7#af7 ,the ,supreme ,leader's ,representative at the ,,irgc4 7#ag7 ,the ,chief ,executive ,officer and the ,chairman of the ,,irgc ,cooperative ,foundation4 7#ah7 ,the ,commander of the ,khatam-al-,anbia ,construction ,head ,quarter4 7#ai7 ,the ,chief ,executive ,officer of the ,basij ,cooperative ,foundation4 7#bj7 ,the head of the ,political ,bureau of the ,,irgc4 7#ba7 ,the senior leadership1 as determined by the ,president1 of any terrorist group or regional proxy force supported by the ,government of ,iran1 including ,hizballah1 ,hamas1 ,palestinian ,islamic ,jihad1 and ,kata'ib ,hizballah4 7c7 ,form of report2 public availability 7#a7 ,form ,the report required under subsection 7a7 shall be submitted in unclassified form but may contain a classified annex4 7#b7 ,public availability ,the ,president shall make the unclassified portion of such report public upon determining that the publication would substantially promote any of the following3 7,a7 ,deterring or sanctioning official corruption in ,iran4 7,b7 ,holding natural persons listed in the report accountable to the people of ,iran4 7,c7 ,combating money laundering or the financing of terrorism4 7,d7 ,achieving any other strategic objective with respect to the ,government of ,iran4 7#c7 ,waiver ,the ,president may waive the requirements of paragraph 7#b7 upon reporting in writing to the appropriate ,members of ,congress that the waiver is in the national interest of the ,united ,states1 with a detailed explanation of the reasons therefor4 7#d7 ,format of publicly available reports ,if the ,president makes the unclassified portion of a report public pursuant to paragraph 7#b71 the ,secretary of the ,treasury shall make it available to the public on the website of the ,department of the ,treasury-- 7,a7 in ,english1 ,farsi1 ,arabic1 and ,azeri2 and 7,b7 in precompressed1 easily downloadable versions that are made available in all appropriate formats4 #d4 ,sunset ,the provisions of this ,act shall have no force or effect on the earlier of-- 7#a7 the date that is #c years after the date of enactment of this ,act2 or 7#b7 #cj days after the ,president reports in writing to the appropriate ,members of ,congress that-- 7,a7 ,iran is not a jurisdiction of primary money laundering concern2 or 7,b7 the ,government of ,iran is providing significant cooperation to the ,united ,states for the purpose of preventing acts of international terrorism1 or for the promotion of any other strategic objective that is important to the national interest of the ,united ,states1 as specified in the report by the ,president4 #e4 ,definitions ,for purposes of this ,act3 7#a7 ,appropriate ,members of ,congress ,the term appropriate ,members of ,congress means the ,speaker and minority leader of the ,house of ,representatives1 the majority leader and minority leader of the ,senate1 the ,chairman and ,ranking ,member of the ,committee on ,financial ,services of the ,house of ,representatives1 and the ,chairman and ,ranking ,member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate4 7#b7 ,financial institution ,the term financial institution means a ,united ,states financial institution or a foreign financial institution4 7#c7 ,foreign financial institution ,the term foreign financial institution has the meaning given that term in section #efa4cjh of title #ca1 ,code of ,federal ,regulations4 7#d7 ,funds ,the term funds has the meaning given to such term by the ,secretary of the ,treasury4 7#e7 ,knowingly ,the term knowingly with respect to conduct1 a circumstance1 or a result1 means that a person has actual knowledge1 or should have known1 of the conduct1 the circumstance1 or the result4 7#f7 ,united ,states financial institution ,the term ,united ,states financial institution has the meaning given the term ,u4,s4 financial institution under section #efa4cji of title #ca1 ,code of ,federal ,regulations4