Sec. 2. Regulations required
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Not later than 180 days after the date of the enactment of this section, the President shall issue regulations to ensure that each transaction described under section 1244(e) or 1247(c) of the National Defense Authorization Act for Fiscal Year 2013 ( 22 U.S.C. 8803(e) or 8806(c)) or section 1245(d)(2) of the National Defense Authorization Act for Fiscal Year 2012 ( 22 U.S.C. 8513a(d)(2) ) does not facilitate, directly or indirectly— support for acts of international terrorism; or the proliferation of weapons of mass destruction.
Beginning on the date that is 1 year after the date on which the President issues regulations pursuant to subsection (a), and every 2 years thereafter for 6 years, the President shall submit to the Congress a report that evaluates the efficacy of the regulations issued by the President pursuant to subsection (a). Nothing in section 1244(e) or 1247(c) of the National Defense Authorization Act for Fiscal Year 2013 ( 22 U.S.C. 8803(e) or 8806(c)) or section 1245(d)(2) of the National Defense Authorization Act for Fiscal Year 2012 ( 22 U.S.C. 8513a(d)(2) ) may be construed to prohibit the imposition of sanctions with respect to a transaction if the President finds, consistent with the regulations issued pursuant to subsection (a), that such transaction would facilitate, directly or indirectly— support for acts of international terrorism; or the proliferation of weapons of mass destruction.
The Secretary of the Treasury shall instruct the United States Executive Director at the World Bank to use the voice and vote of the United States to oppose the provision of financial assistance to the government of the Islamic Republic of Iran. This subsection shall have no force or effect on the date that is the earlier of— the date that is 7 years after the date of the enactment of this section; the date that is 30 days after the date that the Secretary of the Treasury reports to Congress that reasonable grounds do not exist for concluding that the Islamic Republic of Iran is a jurisdiction of primary money laundering concern; or the date that is 30 days after the date that the President finds and reports to the Congress that the government of Iran has ceased to provide support for acts of international terrorism.
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