Vote Smart's Synopsis:

Vote to pass a bill that requires the Department of Treasury to submit a report on the estimated total assets under direct or indirect control by top political and military Iranian leaders.

Highlights:

• Requires the Department of the Treasury to submit within 270 days and annually thereafter for the next 2 years a report regarding the following (Sec. 3):

• The funds or assets held in U.S. and foreign financial institutions that are directly or indirectly controlled by specified Iranian officials;

• Any equity such official has in any entity on the Treasury’s list of Specially Designated Nationals or in any other sanctioned entity;

• How such funds, assets, or equity interests were acquired and used; and

• New methods to evade anti-money laundering and other illicit uses of finances by the specified Iranian leaders and entities.

• Specifies that the Specially Designated Nationals list includes, but is not limited to, the following (Sec. 3): :

• Supreme Leader of Iran;

• President of Iran;

• Council of Guardians members;

• Expediency Council members;

• Military commanders and law enforcement officers; and

• Top leaders of various entities affiliated with the IRGC.

• Requires the unclassified portion of the report to be made available to the public and posted on the Treasury’s website in downloadable English, Farsi, Arabic, and Azeri versions (Sec. 3).

• Specifies that in preparing the report, the Treasury may use any source of information the Secretary finds credible (Sec. 3).

• Defines the term “funds” as any cash, equity, or other intangible asset the Secretary determines appropriate (Sec. 3).

Full Bill Text

Full Bill Text