,,ii  #aai? ,,congress  #a/ ,session    
,s4 #acei  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #h1 #bjbe,mr4   
,scott ( ,florida 7= himself1 ,mrs4     
,blackburn1 & ,mrs4 ,hyde-,smi?7        
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to prohibit securities         
inve/m5ts t f9ance c]ta9 companies ( !  
,p's ,republic ( ,*9a & to exp& !       
,non-,specially ,designat$ ,nationals   
,*9ese ,milit>y-,indu/rial ,complex     
,companies ,li/ ( ! ,(fice ( ,=eign     
,assets ,control1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,sanction ,transactions ,orig9at+ f     
,p]nici\s ,*9ese ,companies & ,policies 
,act ( #bjbe or ! ,,/op ,,ccp ,act (    
#bjbe4  #b4 ,def9itions ,9 ?is ,act3    
7#a7 ,*9ese entity ,! t]m ,*9ese entity 
means an entity organiz$ "u ! laws ( !  
,p's ,republic ( ,*9a or o!rwise subject
 to ! jurisdiction ( ! ,gov]nm5t ( !    
,p's ,republic ( ,*9a4  7#b7 ,publicly  

trad$ securities ,! t]m publicly trad$  
securities includes-- 7,a7 any security 
7z def9$ 9 section #c7;a7 ( !           
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gh;c7a777 d5om9at$ 9 any     
curr5cy t trades on a securities        
ex*ange1 or ?r\gh ! me?od ( trad+ t is  
commonly ref]r$ to z ov]-!-c\nt]1 9 any 
jurisdiction2 &  7,b7 any security t is 
d]ivative ( or design$ to provide       
inve/m5t exposure to a security describ$
 9 subp>agraph 7,a74  7#c7 ,unit$ ,/ates
 p]son ,! t]m ,unit$ ,/ates p]son       
means-- 7,a7 an individual :o is a      
,unit$ ,/ates citiz5 or an ali5 lawfully
 admitt$ = p]man5t resid5ce to ! ,unit$ 
,/ates2  7,b7 an entity organiz$ "u !   
laws ( ! ,unit$ ,/ates or any           
jurisdiction )9 ! ,unit$ ,/ates1 includ+
 a =eign bran* ( su* an entity2 or  7,c7
 any p]son 9 ! ,unit$ ,/ates4  #c4      
,prohibition on securities inve/m5ts t  
f9ance c]ta9 companies ( ! ,p's         
,republic ( ,*9a ,! foll[+ activities by
 a ,unit$ ,/ates p]son are prohibit$3   

7#a7 ,! pur*ase or sale ( any publicly  
trad$ securities1 or any publicly trad$ 
securities t are d]ivative ( su*        
securities or are design$ to provide    
inve/m5t exposure to su* securities1    
issu$ by any p]son det]m9$ by !         
,secret>y ( ! ,treasury1 9 consultation 
) ! ,secret>y ( ,/ate1 &1 z ! ,secret>y 
( ! ,treasury deems appropriate1 !      
,secret>y ( ,def5se-- 7,a7 to op]ate or 
h op]at$ 9 ! def5se & relat$ mat]iel    
sector or ! surveillance te*nology      
sector ( ! economy ( ! ,p's ,republic ( 
,*9a2 or  7,b7 to own or control1 or to 
be own$ or controll$ by1 directly or    
indirectly1 a p]son describ$ 9          
subp>agraph 7,a74  7#b7 ,! execution1   
support1 or s]vic+ ( a pur*ase or sale  
describ$ 9 p>agraph 7#a74  7#c7 ,any    
transaction t evades or avoids1 has !   
purpose ( evad+ or avoid+1 causes a     
violation (1 or attempts to violate !   
prohibition "u p>agraph 7#a74  7#d7 ,any
 conspiracy =m$ to violate ! prohibition
 "u p>agraph 7#a74  #d4 ,expansion (    

,non-,specially ,designat$ ,nationals   
,*9ese ,milit>y-,indu/rial ,complex     
,companies ,li/ ,n lat] ?an #ahj days   
aft] ! date ( ! enactm5t ( ?is ,act1 !  
,secret>y ( ! ,treasury %all prescribe  
regulations to exp& ! ,non-,specially   
,designat$ ,nationals ,*9ese            
,milit>y-,indu/rial ,complex ,companies 
,li/ 7commonly ref]r$ to z ! ,,ns-,,cmic
 ,li/7 ( ! ,(fice ( ,=eign ,assets      
,control to include-- 7#a7 any entity   
engag$ 9 support+ ! ,*9ese              
milit>y-indu/rial complex2  7#b7 any    
entity t is own$ or controll$ by an     
entity describ$ 9 p>agraph 7#a72  7#c7  
any entity t is =m$ f a sp9-(f1 m]g] or 
acquisition1 or sale ( a bus9ess unit   
involv+ an entity describ$ 9 p>agraph   
7#a7 or is o!rwise a successor to su* an
 entity2 &  7#d7 any entity t provides  
f9ancial s]vices = an entity describ$ 9 
p>agraph 7#a71 7#b71 or 7#c74  #e4      
,clos+ sanctions loopholes  7a7 ,9 g5]al
 ,if sanctions are impos$ ) respect to a
 ,*9ese entity "u any /atute or         

executive ord] describ$ 9 subsection    
7b71 sanctions %all be impos$ ) respect 
to ! ,*9ese entity "u ea* o!r applicable
 /atute & executive ord] describ$ 9     
subsection 7b7 unless-- 7#a7 ! ,presid5t
 waives ! imposition ( su* sanctions2 or
  7#b7 a waiv] provid$ = "u su* o!r     
/atute or executive ord] applies4  7b7  
,/atutes & executive ord]s describ$ ,a  
/atute or executive ord] describ$ 9 ?is 
subsection is a /atute or executive ord]
 t provides = ! imposition ( sanctions4 
7c7 ,national security waiv]  7#a7 ,9   
g5]al ,! ,presid5t may waive !          
application ( any sanction impos$ )     
respect to any p]son "u subsection 7a7  
if ! ,presid5t det]m9es & c]tifies to   
,congress t su* a waiv] is important to 
! national security int]e/s ( ! ,unit$  
,/ates4  7#b7 ,notification ( & report  
to ,congress ,if ! ,presid5t decides to 
ex]cise ! waiv] au?ority provid$ "u     
p>agraph 7#a71 ! ,presid5t %all1 n less 
?an #bj days be=e ! waiv] takes effect1 
submit to ,congress a report-- 7,a7     

notify+ ,congress ( ! decision to       
ex]cise ! waiv] au?ority2 &  7,b7 fully 
articulat+ ! rationale & circum/ances t 
l$ to ! decision4  7d7 ,t]m9ation (     
sanctions ,to be report$ to ,congress ,n
 lat] ?an #bj days aft] ! t]m9ation (   
any sanction "u subsection 7a71 !       
,presid5t %all promptly submit to       
,congress a report on t t]m9ation & !   
reasons = ! t]m9ation4