House Bill Would Create Iranian Enforcement Fund, Codify Export Enforcement Center
A House bill with bipartisan support would authorize funding for an "Iranian Sanctions Enforcement Fund," a body that would help DHS "pay expenses relating to seizures and forfeitures of property made with respect to" Iranian sanctions violations. The legislation would specifically authorize a one-time investment of $150 million for the fund, "which it is required to pay back within 10 years, adjusted for inflation," according to a November press release from Rep. August Pfluger, R-Texas, who introduced the bill with Rep. Jimmy Panetta, D-Calif.
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
The bill, whose text was released this week, would also codify the Export Enforcement Coordination Center -- a body created by a 2010 executive order to help coordinate information sharing among government agencies and the intelligence community -- so that the center "cannot be undone by a future president," the press release said.
Pfluger said the bill will help give DHS "the tools they need to seize illicit Iranian oil sales and ensure this money can no longer be used to fund terrorism.”