Berman Dear Colleague on Iran Sanctions Bill

Support the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2008
From: The Committee on Foreign Affairs
Date: 9/26/2008
September 26, 2008

Support the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2008

Dear Colleague:

Later today, the House will consider the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2008 under suspension of the rules. I urge you to join me in supporting this important measure.

The Comprehensive Iran Sanctions, Accountability, and Divestment Act will significantly strengthen our nation's peaceful efforts to counter Iran's illicit nuclear weapons program. The legislation contains versions of two measures that have previously passed the House: HR 1400, the Iran Counter-Proliferation Act, which was approved by the House on September 25, 2007, by a vote of 397-16, and H.R. 2347, the Iran Sanctions Enabling Act, which was passed on July 31, 2007, by a vote of 408-6. This bill will help strengthen the hands of the United States by leading efforts to ensure that if Iran does not end its quest to obtain nuclear weapons and its support for international terrorism, Iran will face meaningful economic measures.

The legislation will undercut Iran's nuclear program and support for terrorism by:
-Codifying and expanding export and import bans on goods to and from Iran;
Freezing assets in the U.S. held by Iranians closely tied to the regime;
-Making a U.S. parent company liable for the violation of U.S. Iran sanctions if the parent company uses a foreign subsidiary to circumvent sanctions;
- Increasing the ability of the Treasury Department to combat terrorist financing;
- Authorizing state and local governments to divest from any company that invests $20 million or more in Iran's energy sector or extending this amount of credit; and
- Increasing U.S. export controls on countries that are directly involved in trans-shipment or illegal diversion of sensitive technologies to Iran.
- Requiring the Administration to report all foreign investments of $20 million or more made in Iran's energy sector and to determine whether each such investment qualifies as sanctionable under the Iran Sanctions Act.

The legislation reaffirms our nation's commitment to multilateral diplomacy to increase pressure on Iran to give up its nuclear weapons program, and explicitly states that nothing in the Act authorizes the use of force against Iran. I have attached a summary of the bill.

Please contact David Beraka at david.beraka@mail.house.gov to cosponsor this legislation.

I urge you to support this important measure.


Sincerely,
/s
HOWARD L. BERMAN
Chairman