Sec. 102. EXPANSION OF SANCTIONS UNDER THE IRAN SANCTIONS ACT OF 1996

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## SEC. 102 EXPANSION OF SANCTIONS UNDER THE IRAN SANCTIONS ACT OF 1996 ###

(a)In General Section 5 of the Iran Sanctions Act of 1996 (Public Law 104–172; 50 U.S.C. 1701 note) is amended— ####

(1)by striking subsection

(a)and inserting the following: > > ### “(a) Sanctions With Respect to the Development of Petroleum Resources of Iran, Production of Refined Petroleum Products in Iran, and Exportation of Refined Petroleum Products to Iran > > > #### “(1) Development of petroleum resources of iran > > > ##### “(A) In general > > Except as provided in subsection (f), the President shall impose 3 or more of the sanctions described in section 6(a) with respect to a person if the President determines that the person knowingly, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010— > > > ###### “(i) > > makes an investment described in subparagraph

(B)of $20,000,000 or more; or > > > ###### “(ii) > > makes a combination of investments described in subparagraph

(B)in a 12-month period if each such investment is of at least $5,000,000 and such investments equal or exceed $20,000,000 in the aggregate. > > > ##### “(B) Investment described > > An investment described in this subparagraph is an investment that directly and significantly contributes to the enhancement of Iran's ability to develop petroleum resources. > > > #### “(2) Production of refined petroleum products > > > ##### “(A) In general > > Except as provided in subsection (f), the President shall impose 3 or more of the sanctions described in section 6(a) with respect to a person if the President determines that the person knowingly, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, sells, leases, or provides to Iran goods, services, technology, information, or support described in subparagraph (B)— > > > ###### “(i) > > any of which has a fair market value of $1,000,000 or more; or > > > ###### “(ii) > > that, during a 12-month period, have an aggregate fair market value of $5,000,000 or more. > > > ##### “(B) Goods, services, technology, information, or support described > > Goods, services, technology, information, or support described in this subparagraph are goods, services, technology, information, or support that could directly and significantly facilitate the maintenance or expansion of Iran's domestic production of refined petroleum products, including any direct and significant assistance with respect to the construction, modernization, or repair of petroleum refineries. > > > #### “(3) Exportation of refined petroleum products to iran > > > ##### “(A) In general > > Except as provided in subsection (f), the President shall impose 3 or more of the sanctions described in section 6(a) with respect to a person if the President determines that the person knowingly, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010— > > > ###### “(i) > > sells or provides to Iran refined petroleum products— > > > ###### “(I) > > that have a fair market value of $1,000,000 or more; or > > > ###### “(II) > > that, during a 12-month period, have an aggregate fair market value of $5,000,000 or more; or > > > ###### “(ii) > > sells, leases, or provides to Iran goods, services, technology, information, or support described in subparagraph (B)— > > > ###### “(I) > > any of which has a fair market value of $1,000,000 or more; or > > > ###### “(II) > > that, during a 12-month period, have an aggregate fair market value of $5,000,000 or more. > > > ##### “(B) Goods, services, technology, information, or support described > > Goods, services, technology, information, or support described in this subparagraph are goods, services, technology, information, or support that could directly and significantly contribute to the enhancement of Iran's ability to import refined petroleum products, including— > > > ###### “(i) > > except as provided in subparagraph (C), underwriting or entering into a contract to provide insurance or reinsurance for the sale, lease, or provision of such goods, services, technology, information, or support; > > > ###### “(ii) > > financing or brokering such sale, lease, or provision; or > > > ###### “(iii) > > providing ships or shipping services to deliver refined petroleum products to Iran. > > > ##### “(C) Exception for underwriters and insurance providers exercising due diligence > > The President may not impose sanctions under this paragraph with respect to a person that provides underwriting services or insurance or reinsurance if the President determines that the person has exercised due diligence in establishing and enforcing official policies, procedures, and controls to ensure that the person does not underwrite or enter into a contract to provide insurance or reinsurance for the sale, lease, or provision of goods, services, technology, information, or support described in subparagraph (B).” > ; ####

(2)in subsection (b)— #####

(A)by redesignating paragraphs

(1)and

(2)as subparagraphs

(A)and (B), respectively, and moving such subparagraphs, as so redesignated, 2 ems to the right; #####

(B)by striking “ The President shall impose ” and inserting the following: > > #### “(1) In general > > The President shall impose” > ; and #####

(C)in paragraph (1), as redesignated by subparagraph

(B)of this paragraph, by striking “two or more” and all that follows through “of this Act” and inserting “3 or more of the sanctions described in section 6(a) if the President determines that a person has, on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010”; and #####

(D)by adding at the end the following: > > #### “(2) Additional mandatory sanctions relating to transfer of nuclear technology > > > ##### “(A) In general > > Except as provided in subparagraphs

(B)and (C), in any case in which a person is subject to sanctions under paragraph

(1)because of an activity described in that paragraph that relates to the acquisition or development of nuclear weapons or related technology or of missiles or advanced conventional weapons that are designed or modified to deliver a nuclear weapon, no license may be issued for the export, and no approval may be given for the transfer or retransfer, directly or indirectly, to the country the government of which has primary jurisdiction over the person, of any nuclear material, facilities, components, or other goods, services, or technology that are or would be subject to an agreement for cooperation between the United States and that government. > > > ##### “(B) Exception > > The sanctions described in subparagraph

(A)shall not apply with respect to a country the government of which has primary jurisdiction over a person that engages in an activity described in that subparagraph if the President determines and notifies the appropriate congressional committees that the government of the country— > > > ###### “(i) > > does not know or have reason to know about the activity; or > > > ###### “(ii) > > has taken, or is taking, all reasonable steps necessary to prevent a recurrence of the activity and to penalize the person for the activity. > > > ##### “(C) Individual approval > > Notwithstanding subparagraph (A), the President may, on a case-by-case basis, approve the issuance of a license for the export, or approve the transfer or retransfer, of any nuclear material, facilities, components, or other goods, services, or technology that are or would be subject to an agreement for cooperation, to a person in a country to which subparagraph

(A)applies (other than a person that is subject to the sanctions under paragraph (1)) if the President— > > > ###### “(i) > > determines that such approval is vital to the national security interests of the United States; and > > > ###### “(ii) > > not later than 15 days before issuing such license or approving such transfer or retransfer, submits to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate the justification for approving such license, transfer, or retransfer. > > > ##### “(D) Construction > > The restrictions in subparagraph

(A)shall apply in addition to all other applicable procedures, requirements, and restrictions contained in the Atomic Energy Act of 1954 and other related laws. > > > ##### “(E) Definition > > In this paragraph, the term ‘**agreement for cooperation**’ has the meaning given that term in section 11 b. of the Atomic Energy Act of 1954 (42 U.S.C. 2014(b)). > > > ##### “(F) Applicability > > The sanctions under subparagraph

(A)shall apply only in a case in which a person is subject to sanctions under paragraph

(1)because of an activity described in that paragraph in which the person engages on or after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010.” > ; ####

(3)in subsection (c)— #####

(A)by striking “(b)” each place it appears and inserting “(b)(1)”; and #####

(B)by striking paragraph

(2)and inserting the following: > > #### “(2) > > any person that— > > > ##### “(A) > > is a successor entity to the person referred to in paragraph (1); > > > ##### “(B) > > owns or controls the person referred to in paragraph (1), if the person that owns or controls the person referred to in paragraph

(1)had actual knowledge or should have known that the person referred to in paragraph

(1)engaged in the activities referred to in that paragraph; or > > > ##### “(C) > > is owned or controlled by, or under common ownership or control with, the person referred to in paragraph (1), if the person owned or controlled by, or under common ownership or control with (as the case may be), the person referred to in paragraph

(1)knowingly engaged in the activities referred to in that paragraph.” > ; and ####

(4)in subsection (f)— #####

(A)in the matter preceding paragraph (1), by striking “(b)” and inserting “(b)(1)”; and #####

(B)in paragraph (2), by striking “section 301(b)(1) of that Act (19 U.S.C. 2511(b)(1))” and inserting “section 301(b) of that Act (19 U.S.C. 2511(b))”. ###

(b)Description of Sanctions Section 6 of such Act is amended— ####

(1)by striking “ The sanctions to be imposed ” and inserting the following: > > ### “(a) In General > > The sanctions to be imposed” > ; ####

(2)in subsection (a), as redesignated by paragraph (1)— #####

(A)by redesignating paragraph

(6)as paragraph (9); and #####

(B)by inserting after paragraph

(5)the following: > > #### “(6) Foreign exchange > > The President may, pursuant to such regulations as the President may prescribe, prohibit any transactions in foreign exchange that are subject to the jurisdiction of the United States and in which the sanctioned person has any interest. > > > #### “(7) Banking transactions > > The President may, pursuant to such regulations as the President may prescribe, prohibit any transfers of credit or payments between financial institutions or by, through, or to any financial institution, to the extent that such transfers or payments are subject to the jurisdiction of the United States and involve any interest of the sanctioned person. > > > #### “(8) Property transactions > > The President may, pursuant to such regulations as the President may prescribe, prohibit any person from— > > > ##### “(A) > > acquiring, holding, withholding, using, transferring, withdrawing, transporting, importing, or exporting any property that is subject to the jurisdiction of the United States and with respect to which the sanctioned person has any interest; > > > ##### “(B) > > dealing in or exercising any right, power, or privilege with respect to such property; or > > > ##### “(C) > > conducting any transaction involving such property.” > ; and ####

(3)by adding at the end the following: > > ### “(b) Additional Measure Relating to Government Contracts > > > #### “(1) Modification of federal acquisition regulation > > Not later than 90 days after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, the Federal Acquisition Regulation issued pursuant to section 25 of the Office of Federal Procurement Policy Act (41 U.S.C. 421) shall be revised to require a certification from each person that is a prospective contractor that the person, and any person owned or controlled by the person, does not engage in any activity for which sanctions may be imposed under section 5. > > > #### “(2) Remedies > > > ##### “(A) In general > > If the head of an executive agency determines that a person has submitted a false certification under paragraph

(1)on or after the date on which the revision of the Federal Acquisition Regulation required by this subsection becomes effective, the head of that executive agency shall terminate a contract with such person or debar or suspend such person from eligibility for Federal contracts for a period of not more than 3 years. Any such debarment or suspension shall be subject to the procedures that apply to debarment and suspension under the Federal Acquisition Regulation under subpart 9.4 of part 9 of title 48, Code of Federal Regulations. > > > ##### “(B) Inclusion on list of parties excluded from federal procurement and nonprocurement programs > > The Administrator of General Services shall include on the List of Parties Excluded from Federal Procurement and Nonprocurement Programs maintained by the Administrator under part 9 of the Federal Acquisition Regulation issued pursuant to section 25 of the Office of Federal Procurement Policy Act (41 U.S.C. 421) each person that is debarred, suspended, or proposed for debarment or suspension by the head of an executive agency on the basis of a determination of a false certification under subparagraph (A). > > > #### “(3) Clarification regarding certain products > > The remedies set forth in paragraph

(2)shall not apply with respect to the procurement of eligible products, as defined in section 308(4) of the Trade Agreements Act of 1974 (19 U.S.C. 2518(4)), of any foreign country or instrumentality designated under section 301(b) of that Act (19 U.S.C. 2511(b)). > > > #### “(4) Rule of construction > > This subsection shall not be construed to limit the use of other remedies available to the head of an executive agency or any other official of the Federal Government on the basis of a determination of a false certification under paragraph (1). > > > #### “(5) Waivers > > The President may on a case-by-case basis waive the requirement that a person make a certification under paragraph

(1)if the President determines and certifies in writing to the appropriate congressional committees, the Committee on Armed Services of the Senate, and the Committee on Armed Services of the House of Representatives, that it is in the national interest of the United States to do so. > > > #### “(6) Executive agency defined > > In this subsection, the term ‘**executive agency**’ has the meaning given that term in section 4 of the Office of Federal Procurement Policy Act (41 U.S.C. 403). > > > #### “(7) Applicability > > The revisions to the Federal Acquisition Regulation required under paragraph

(1)shall apply with respect to contracts for which solicitations are issued on or after the date that is 90 days after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010.” > . ###

(c)Presidential Waiver Section 9 of such Act is amended— ####

(1)in subsection (a), by striking “5(b)” each place it appears and inserting “5(b)(1)”; and ####

(2)in subsection (c)— #####

(A)by striking “section 5(a) or (b)” each place it appears and inserting “section 5(a) or 5(b)(1)”; #####

(B)in paragraph (1), by striking “important to the national interest” and inserting “necessary to the national interest”; and #####

(C)in paragraph (2), by striking subparagraph

(C)and inserting the following: > > ##### “(C) > > an estimate of the significance of the conduct of the person in contributing to the ability of Iran to, as the case may be— > > > ###### “(i) > > develop petroleum resources, produce refined petroleum products, or import refined petroleum products; or > > > ###### “(ii) > > acquire or develop— > > > ###### “(I) > > chemical, biological, or nuclear weapons or related technologies; or > > > ###### “(II) > > destabilizing numbers and types of advanced conventional weapons; and” > . ###

(d)Reports on Global Trade Relating to Iran Section 10 of such Act is amended by adding at the end the following: > > ### “(d) Reports on Global Trade Relating to Iran > > Not later than 90 days after the date of the enactment of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, and annually thereafter, the President shall submit to the appropriate congressional committees a report, with respect to the most recent 12-month period for which data are available, on the dollar value amount of trade, including in the energy sector, between Iran and each country maintaining membership in the Group of 20 Finance Ministers and Central Bank Governors.” > . ###

(e)Extension of Iran Sanctions Act of 1996 Section 13(b) of such Act is amended by striking “December 31, 2011” and inserting “December 31, 2016”. ###

(f)Clarification and Expansion of Definitions Section 14 of such Act is amended— ####

(1)in paragraph (2), by striking “the Committee on Banking and Financial Services, and the Committee on International Relations” and inserting “the Committee on Financial Services, and the Committee on Foreign Affairs”; ####

(2)in paragraph (9), in the flush text following subparagraph (C), by striking “The term ‘**investment**’ does not include” and all that follows through “technology.”; ####

(3)by redesignating paragraphs (12), (13), (14), (15), and

(16)as paragraphs (13), (14), (15), (17), and (18), respectively; ####

(4)by inserting after paragraph

(11)the following: > > #### “(12) Knowingly > > The term ‘**knowingly**’, with respect to conduct, a circumstance, or a result, means that a person has actual knowledge, or should have known, of the conduct, the circumstance, or the result.” > ; ####

(5)in paragraph (14), as redesignated by paragraph

(3)of this subsection— #####

(A)by redesignating subparagraphs (A), (B), and

(C)as clauses (i), (ii), and (iii), respectively, and moving such clauses, as so redesignated, 2 ems to the right; #####

(B)by striking “ The term ‘**person**’ means— ” and inserting the following: > > ##### “(A) In general > > The term ‘**person**’ means—” > ; #####

(C)in subparagraph (A), as redesignated by this paragraph— ######

(i)in clause (ii), by inserting “financial institution, insurer, underwriter, guarantor, and any other business organization,” after “trust,”; and ######

(ii)in clause (iii), by striking “subparagraph (B)” and inserting “clause (ii)”; and #####

(D)by adding at the end the following: > > ##### “(B) Application to governmental entities > > The term ‘**person**’ does not include a government or governmental entity that is not operating as a business enterprise.” > ; ####

(6)in paragraph (15), as redesignated by paragraph

(3)of this subsection, by striking “petroleum and natural gas resources” and inserting “petroleum, refined petroleum products, oil or liquefied natural gas, natural gas resources, oil or liquefied natural gas tankers, and products used to construct or maintain pipelines used to transport oil or liquefied natural gas”; and ####

(7)by inserting after paragraph (15), as so redesignated, the following: > > #### “(16) Refined petroleum products > > The term ‘**refined petroleum products**’ means diesel, gasoline, jet fuel (including naphtha-type and kerosene-type jet fuel), and aviation gasoline.” > . ###

(g)Waiver for Certain Persons in Certain Countries; Mandatory Investigations and Reporting; Conforming Amendments Section 4 of such Act is amended— ####

(1)in subsection (b)(2), by striking “(in addition to that provided in subsection (d))”; ####

(2)in subsection (c)— #####

(A)in paragraph (1)— ######

(i)by striking “ The President may ” and inserting the following: > > ##### “(A) General waiver > > The President may” > ; and ######

(ii)by adding at the end the following: > > ##### “(B) Waiver with respect to persons in countries that cooperate in multilateral efforts with respect to iran > > The President may, on a case by case basis, waive for a period of not more than 12 months the application of section 5(a) with respect to a person if the President, at least 30 days before the waiver is to take effect— > > > ###### “(i) > > certifies to the appropriate congressional committees that— > > > ###### “(I) > > the government with primary jurisdiction over the person is closely cooperating with the United States in multilateral efforts to prevent Iran from— > > > ###### “(aa) > > acquiring or developing chemical, biological, or nuclear weapons or related technologies; or > > > ###### “(bb) > > acquiring or developing destabilizing numbers and types of advanced conventional weapons; and > > > ###### “(II) > > such a waiver is vital to the national security interests of the United States; and > > > ###### “(ii) > > submits to the appropriate congressional committees a report identifying— > > > ###### “(I) > > the person with respect to which the President waives the application of sanctions; and > > > ###### “(II) > > the actions taken by the government described in clause (i)(I) to cooperate in multilateral efforts described in that clause.” > ; and #####

(B)by striking paragraph

(2)and inserting the following: > > #### “(2) Subsequent renewal of waiver > > At the conclusion of the period of a waiver under subparagraph

(A)or

(B)of paragraph (1), the President may renew the waiver— > > > ##### “(A) > > if the President determines, in accordance with subparagraph

(A)or

(B)of that paragraph (as the case may be), that the waiver is appropriate; and > > > ##### “(B) > > > ######

(i)> > in the case of a waiver under subparagraph

(A)of paragraph (1), for subsequent periods of not more than six months each; and > > > ###### “(ii) > > in the case of a waiver under subparagraph

(B)of paragraph (1), for subsequent periods of not more than 12 months each.” > ; ####

(3)by striking subsection (d); ####

(4)by redesignating subsections

(e)and

(f)as subsections

(d)and (e), respectively; and ####

(5)in subsection (e), as redesignated by paragraph

(4)of this subsection— #####

(A)in paragraph (1)— ######

(i)by striking “should initiate” and inserting “shall initiate”; and ######

(ii)by striking “investment activity in Iran as” and inserting “an activity”; #####

(B)in paragraph (2)— ######

(i)by striking “should determine” and inserting “shall (unless paragraph

(3)applies) determine”; and ######

(ii)by striking “investment activity in Iran as” and inserting “an activity”; and #####

(C)by adding at the end the following: > > #### “(3) Special rule > > The President need not initiate an investigation, and may terminate an investigation, under this subsection if the President certifies in writing to the appropriate congressional committees that— > > > ##### “(A) > > the person whose activity was the basis for the investigation is no longer engaging in the activity or has taken significant verifiable steps toward stopping the activity; and > > > ##### “(B) > > the President has received reliable assurances that the person will not knowingly engage in an activity described in section 5(a) in the future.” > . ###

(h)Effective Date ####

(1)In general The amendments made by this section shall— #####

(A)take effect on the date of the enactment of this Act; and #####

(B)except as provided in this subsection or section 6(b)(7) of the Iran Sanctions Act of 1996, as amended by subsection

(b)of this section, apply with respect to an investment or activity described in subsection

(a)or

(b)of section 5 of the Iran Sanctions Act of 1996, as amended by this section, that is commenced on or after such date of enactment. ####

(2)Applicability to ongoing investments prohibited under prior law A person that makes an investment described in section 5(a) of the Iran Sanctions Act of 1996, as in effect on the day before the date of the enactment of this Act, that is commenced before such date of enactment and continues on or after such date of enactment, shall, except as provided in paragraph (4), be subject to the provisions of the Iran Sanctions Act of 1996, as in effect on the day before such date of enactment. ####

(3)Applicability to ongoing activities relating to chemical, biological, or nuclear weapons or related technologies A person that, before the date of the enactment of this Act, commenced an activity described in section 5(b) of the Iran Sanctions Act of 1996, as in effect on the day before such date of enactment, and continues the activity on or after such date of enactment, shall be subject to the provisions of the Iran Sanctions Act of 1996, as amended by this Act. ####

(4)Applicability of mandatory investigations to investments The amendments made by subsection (g)(5) of this section shall apply on and after the date of the enactment of this Act— #####

(A)with respect to an investment described in section 5(a)(1) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section, that is commenced on or after such date of enactment; and #####

(B)with respect to an investment described in section 5(a) of the Iran Sanctions Act of 1996, as in effect on the day before the date of the enactment of this Act, that is commenced before such date of enactment and continues on or after such date of enactment. ####

(5)Applicability of mandatory investigations to activities relating to petroleum #####

(A)In general Except as provided in subparagraph (B), the amendments made by subsection (g)(5) of this section shall apply on and after the date that is 1 year after the date of the enactment of this Act with respect to an activity described in paragraph

(2)or

(3)of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section, that is commenced on or after the date that is 1 year after the date of the enactment of this Act or the date on which the President fails to submit a certification that is required under subparagraph

(B)(whichever is applicable). #####

(B)Special rule for delay of effective date ######

(i)Reporting requirement Not later than 30 days before the date that is 1 year after the date of the enactment of this Act, the President shall submit to the appropriate congressional committees a report describing— ######

(I)the diplomatic and other efforts of the President— ######

(aa)to dissuade foreign persons from engaging in activities described in paragraph

(2)or

(3)of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section; and ######

(bb)to encourage other governments to dissuade persons over which those governments have jurisdiction from engaging in such activities; ######

(II)the successes and failures of the efforts described in subclause (I); and ######

(III)each investigation under section 4(e) of the Iran Sanctions Act of 1996, as amended by subsection (g)(5) of this section and as in effect pursuant to subparagraph

(C)of this paragraph, or any other review of an activity described in paragraph

(2)or

(3)of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section, that is initiated or ongoing during the period beginning on the date of the enactment of this Act and ending on the date on which the President is required to submit the report. ######

(ii)Certification If the President submits to the appropriate congressional committees, with the report required by clause (i), a certification that there was a substantial reduction in activities described in paragraphs

(2)and

(3)of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section, during the period described in clause (i)(III), the effective date provided for in subparagraph

(A)shall be delayed for a 180-day period beginning after the date provided for in that subparagraph. ######

(iii)Subsequent reports and delays The effective date provided for in subparagraph

(A)shall be delayed for additional 180-day periods occurring after the end of the 180-day period provided for under clause (ii), if, not later than 30 days before the 180-day period preceding such additional 180-day period expires, the President submits to the appropriate congressional committees— ######

(I)a report containing the matters required in the report under clause

(i)for the period beginning on the date on which the preceding report was required to be submitted under clause

(i)or this clause (as the case may be) and ending on the date on which the President is required to submit the most recent report under this clause; and ######

(II)a certification that, during the period described in subclause (I), there was (as compared to the period for which the preceding report was submitted under this subparagraph) a progressive reduction in activities described in paragraphs

(2)and

(3)of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section. ######

(iv)Consequence of failure to certify If the President does not make a certification at a time required by this subparagraph— ######

(I)the amendments made by subsection (g)(5) of this section shall apply on and after the date on which the certification was required to be submitted by this subparagraph, with respect to an activity described in paragraph

(2)or

(3)of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section, that— ######

(aa)is referenced in the most recent report required to be submitted under this subparagraph; or ######

(bb)is commenced on or after the date on which such most recent report is required to be submitted; and ######

(II)not later than 45 days after the date on which the certification was required to be submitted by this subparagraph, the President shall make a determination under paragraph

(2)or

(3)of section 5(a) of the Iran Sanctions Act of 1996 (as the case may be), as amended by subsection

(a)of this section, with respect to relevant activities described in subclause (I)(aa). #####

(C)Applicability of permissive investigations During the 1-year period beginning on the date of the enactment of this Act and during any 180-day period during which the effective date provided for in subparagraph

(A)is delayed pursuant to subparagraph (B), section 4(e) of the Iran Sanctions Act of 1996, as amended by subsection (g)(5) of this section, shall be applied, with respect to an activity described in paragraph

(2)or

(3)of section 5(a) of the Iran Sanctions Act of 1996, as amended by subsection

(a)of this section, by substituting “should” for “shall” each place it appears. ####

(6)Waiver authority The amendments made by subsection

(c)shall not be construed to affect any exercise of the authority under section 9(c) of the Iran Sanctions Act of 1996, as in effect on the day before the date of the enactment of this Act.

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