Sec. 4. Report and certification on restricted Iranian funds released to Qatar
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/bill/118/hr/5826/eh/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 90 days after the date of the enactment of this Act, and every 180 days thereafter for 6 years, the President shall submit to the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate the following: A report on the $6,000,000,000 in funds transferred from restricted Iranian accounts in the Republic of South Korea to restricted accounts in Qatar on or after August 9, 2023.
A certification as to whether credible evidence or intelligence exists that any of the funds transferred have been used for any purpose other than humanitarian purposes. A certification as to whether credible evidence or intelligence exists that the funds transferred have enabled the Government of Iran to increase spending on defense, intelligence, or malign foreign activities. The report required by subsection (a)(1) shall include the following: An itemized list of all transactions involving the use of funds transferred, including the value of such transactions, the parties to such transactions, the financial institutions involved, the goods purchased in each transaction, the destinations and end user of such goods, the date on which the United States was notified of such transaction, and the date the transaction occurred.
The quantity of funds described in subsection (a)(1) in restricted accounts in Qatar at the beginning and end of each reporting period. A thorough description of the process the United States Government utilized during the reporting period to review transactions involving the use of funds transferred in order to verify that such transactions were humanitarian in nature.