H.R. 4070: To clarify certain provisions relating to the interests of Iran in certain assets, and for other purposes.

112th Congress · introduced 2012-02-16 · International Affairs · Latest: Referred to the Subcommittee on Courts, Commercial and Administrative Law.

federal

Follow this bill, step by step

Where it came from: introduced 2012-02-16 · official record
Who proposed it: Rep. Turner, Robert L. [R-NY-9] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Courts, Commercial and Administrative Law. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To clarify certain provisions relating to the interests of Iran in certain assets, and for other purposes.

Plain summary

States that the property interest of Iran in: (1) a blocked asset shall include an interest in property of any nature whatsoever, including any direct or indirect interest in securities or other financial assets immobilized or in any other manner held in book entry form and credited to a securities account in the United States, or in any funds transfers held in a U.S. financial institution; (2) securities or other financial assets immobilized or in any other manner held in book entry form and credited to a securities account in the United States shall be deemed to exist at every tier of securities intermediary necessary to hold an interest in any such securities or other financial assets; and (3) a funds transfer shall exist at any intermediary bank necessary to complete such funds transfer. States that property of Iran shall be deemed to be property in the United States of Iran if that property is: (1) an interest, held for Iran's benefit or for the benefit of any securities intermediary that directly or indirectly holds the interest for Iran's benefit, in securities or other financial assets that are represented by certificates or are in other physical form and are immobilized, custodized, or held for safekeeping or any other reason in the United States; or (2) an interest in securities or other financial assets held in book entry form or otherwise, and credited to a securities account in the United States by any securities intermediary directly or indirectly for Iran's benefit or for the benefit of any other securities intermediary that directly or indirectly holds the interest for Iran's benefit. States that: (1) an interest in securities or other financial assets is held and credited to a securities account in the United States by a securities intermediary if the securities intermediary is located in the United States; and (2) ownership by Iran, or its central bank or monetary authority, of any property shall be deemed to be commercial activity in the United States and that property, including any interest in that property, shall be deemed not to be held for the central bank's or monetary authority's own account. Revises provisions regarding exceptions to the immunity from attachment or execution of a foreign state's property in the United States.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

To clarify certain provisions relating to the interests of Iran in certain assets, and for other purposes.

Source: Congressional Research Service summary (Introduced in House)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Turner, Robert L. [R-NY-9] · 56 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Brad Sherman (D-CA), Tim Scott (R-SC), Frederica S. Wilson (D-FL), Mike Rogers (R-AL), Joe Wilson (R-SC), James A. Himes (D-CT), Tammy Baldwin (D-WI), Mazie K. Hirono (D-HI), Christopher Murphy (D-CT)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr4070.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr4070 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112