H.R. 5550: No Dollars for Ayatollahs Act
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H.R. 5550: No Dollars for Ayatollahs Act
114th Congress · introduced 2016-06-21 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2016-06-21 · official record
- Who proposed it: Rep. Roskam, Peter J. [R-IL-6] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Ways and Means. 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.
Official title
No Dollars for Ayatollahs Act
Plain summary
No Dollars for Ayatollahs Act This bill amends the Internal Revenue Code to impose an excise tax on any U.S. person who clears or transfers more than $1 million U.S. dollars per year for the direct or indirect benefit of the government of Iran or any Iranian person. The tax is equal to 100% of the amount that is cleared or transferred. The tax also applies to transactions by certain related entities, including the clearing or transferring of U.S dollars by: (1) a foreign member of a U.S. person's worldwide affiliated group, or (2) a foreign person who is not a member of a U.S. person's worldwide affiliated group, but has a correspondent account or payable-through account for or with such a member or a U.S. person. The tax applies to transactions by a foreign person described above if the member or U.S. person for or with whom the account is maintained knew or had reason to know the dollars were being cleared or transferred.
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
No Dollars for Ayatollahs Act
Source: Congressional Research Service summary (Introduced in House)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Roskam, Peter J. [R-IL-6] · 8 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Vern Buchanan (R-FL), Todd Young (R-IN)
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)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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-114hr5550.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>
Record fed-us-cong114-hr5550 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114