H.R. 4179: Iran Financial Sanctions Improvement Act of 2012

112th Congress · introduced 2012-03-08 · International Affairs · Latest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.

federal

Follow this bill, step by step

Where it came from: introduced 2012-03-08 · official record
Who proposed it: Rep. Sherman, Brad [D-CA-27] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Financial Institutions and Consumer Credit. 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

Iran Financial Sanctions Improvement Act of 2012

Plain summary

Iran Financial Sanctions Improvement Act of 2012 - Directs the Comptroller General to submit to Congress a list of all known entities that provide services to, or facilitate service access for, the Central Bank of Iran or any Iranian financial institution. Directs the Secretary of the Treasury to report to Congress on efforts to ensure that the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Clearstream, and other similar entities have terminated the provision of services to, and the facilitation of service access for, the Central Bank of Iran and other Iranian financial institutions. Authorizes the President to impose specified sanctions on an entity that has not terminated any such relationship. Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to require each foreign financial institution that maintains a U.S. correspondent account or a payable-through account to report to the Secretary of the Treasury regarding any financial dealings with an Iranian financial institution during the preceding 180 days. Directs the Secretary to make such reports public. Amends the National Defense Authorization Act for Fiscal Year 2012 to include as a sanctionable activity the maintenance of funds or accounts for, or on behalf of, the Central Bank of Iran or another Iranian financial institution. Applies specified sanctions with respect to a foreign financial institution owned or controlled by the government of a foreign country (including a central bank of a foreign country) to the same extent and in the same manner as such sanctions apply to other foreign financial institutions. Directs the President to impose specified sanctions against a person that knowingly provided underwriting services or reinsurance: (1) for any activity regarding Iran for which sanctions have been imposed, or (2) to or for any person on which sanctions have been imposed for engaging in an activity with respect to Iran or any person designated for the imposition of sanctions in connection with Iran's proliferation of weapons of mass destruction or support for international terrorism. Includes among such sanctions export and procurement sanctions, and visa, property, banking, loan, and foreign exchange prohibitions.

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

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

What does this mean? (plain words)

Official text

Iran Financial Sanctions Improvement Act of 2012

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Sherman, Brad [D-CA-27] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Sherman, Brad [D-CA-27] reported raising $2.9 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Fiscal year: The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.

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-112hr4179.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr4179 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112