HR-6051 : Still Just a Bill

The "Holding Iranian Leaders Accountable Act of 2023" (H.R. 6051) aims to increase transparency regarding the financial activities of Iranian government officials and related entities.

• Report Requirement: The bill mandates the President to submit a report to Congress every two years, detailing the funds and assets under the control of specific Iranian officials, how these assets were acquired and used, and any financial institutions involved with these assets.
• Scope of Report: The report will cover key figures such as the Supreme Leader and President of Iran, members of the Islamic Revolutionary Guard Corps (IRGC), and leaders of groups like Hizballah and Hamas.
• Financial Institution Restrictions: The Secretary of the Treasury is required to take action against financial institutions found to be maintaining accounts or providing significant financial services to individuals covered in the report, potentially including account closures and service prohibitions.
• Exceptions: The bill includes exceptions for activities related to national security, compliance with international obligations, and the sale of agricultural commodities, food, medicine, or medical devices to Iran, as well as humanitarian assistance.
• Sunset Clause: The provisions of the Act will expire either five years after its enactment or 30 days after the Secretary of the Treasury reports that Iran is no longer a jurisdiction of primary money laundering concern or is cooperating with the U.S. on counter-terrorism efforts.