2000 
[DOCID: f:h1954rh.txt]





                                                  Union Calendar No. 82
107th CONGRESS
  1st Session
                                H. R. 1954

                  [Report No. 107-107, Parts I and II]

 To extend the authorities of the Iran and Libya Sanctions Act of 1996 
                              until 2006.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 23, 2001

Mr. Gilman (for himself, Mr. Berman, Mr. Armey, Mr. Gephardt, Ms. Pryce 
of Ohio, Mr. Lantos, Mr. Cox, Mr. Ackerman, Mr. Blunt, Mr. Waxman, Mr. 
Aderholt, Mr. Andrews, Mr. Baca, Mr. Baird, Mr. Baker, Ms. Baldwin, Mr. 
    Bass, Mr. Becerra, Mr. Bentsen, Ms. Berkley, Mr. Boehlert, Mrs. 
 Biggert, Mr. Bilirakis, Mr. Blagojevich, Mr. Bonilla, Mrs. Bono, Mr. 
 Borski, Mr. Boyd, Mr. Brown of Ohio, Mr. Brown of South Carolina, Mr. 
  Bryant, Mr. Burton of Indiana, Mr. Buyer, Mr. Callahan, Mr. Cantor, 
Mrs. Capps, Mr. Carson of Oklahoma, Mr. Capuano, Mr. Cardin, Mr. Coble, 
   Mr. Condit, Mr. Costello, Mr. Crenshaw, Mr. Crowley, Mr. Davis of 
 Florida, Mrs. Jo Ann Davis of Virginia, Mrs. Davis of California, Mr. 
 Tom Davis of Virginia, Ms. DeGette, Mr. Deutsch, Mr. Diaz-Balart, Mr. 
Doolittle, Mr. Doyle, Mr. Ehlers, Mr. Engel, Ms. Eshoo, Mr. Etheridge, 
 Mr. Evans, Mr. Ferguson, Mr. Filner, Mr. Flake, Mr. Foley, Mr. Ford, 
Mr. Fossella, Mr. Frank, Mr. Frelinghuysen, Mr. Frost, Mr. Ganske, Mr. 
  Gallegly, Mr. Gekas, Mr. Gilchrest, Mr. Gillmor, Mr. Gonzalez, Mr. 
Gordon, Mr. Goss, Mr. Graham, Ms. Granger, Mr. Graves, Mr. Grucci, Mr. 
 Gutierrez, Mr. Hastings of Florida, Ms. Harman, Ms. Hart, Mr. Hayes, 
  Mr. Hayworth, Mr. Hilleary, Mr. Hoeffel, Mr. Holt, Mr. Holden, Mr. 
   Honda, Ms. Hooley of Oregon, Mr. Horn, Mr. Hoyer, Mr. Hunter, Mr. 
  Hutchinson, Mr. Israel, Mr. Issa, Mrs. Kelly, Mr. Kennedy of Rhode 
    Island, Mr. King, Mr. Kingston, Mr. Kirk, Mr. Knollenberg, Mr. 
 Langevin, Mr. Lampson, Mr. Larson of Connecticut, Mr. LaTourette, Mr. 
  Leach, Ms. Lee, Mr. Levin, Mr. Lewis of Georgia, Mr. Lipinski, Mr. 
   LoBiondo, Mrs. Lowey, Mrs. McCarthy of New York, Ms. McCarthy of 
   Missouri, Mr. McCrery, Mr. McGovern, Mr. McInnis, Mr. McKeon, Mr. 
McNulty, Mrs. Maloney of New York, Mr. Markey, Mr. Mascara, Mr. Matsui, 
Mr. Meeks of New York, Mr. Menendez, Mr. Mica, Ms. Millender-McDonald, 
 Mr. Miller of Florida, Mr. George Miller of California, Mrs. Morella, 
  Mr. Murtha, Mrs. Myrick, Mr. Nadler, Mrs. Northup, Mr. Norwood, Mr. 
 Ose, Mr. Otter, Mr. Owens, Mr. Pallone, Mr. Pascrell, Mr. Pastor, Ms. 
Pelosi, Mr. Phelps, Mr. Pitts, Mr. Platts, Mr. Putnam, Mr. Ramstad, Mr. 
   Rehberg, Mr. Reynolds, Mr. Riley, Ms. Rivers, Mr. Rodriguez, Mr. 
  Rohrabacher, Mr. Rogers of Michigan, Ms. Ros-Lehtinen, Mr. Rothman, 
 Mrs. Roukema, Mr. Ryun of Kansas, Mr. Sabo, Mr. Sandlin, Mr. Saxton, 
Mr. Scarborough, Ms. Schakowsky, Mr. Schiff, Mr. Schrock, Mr. Sessions, 
    Mr. Shaw, Mr. Shadegg, Mr. Sherman, Mr. Shows, Mr. Simmons, Mr. 
Skelton, Ms. Slaughter, Mr. Smith of New Jersey, Ms. Solis, Mr. Souder, 
   Mr. Spence, Mr. Stearns, Mr. Stump, Mr. Stupak, Mr. Sweeney, Mr. 
     Tanner, Mrs. Tauscher, Mr. Tauzin, Mr. Terry, Mr. Thompson of 
  California, Mrs. Thurman, Mr. Tiberi, Mr. Udall of New Mexico, Mr. 
Underwood, Mr. Visclosky, Mr. Vitter, Mr. Wamp, Mr. Weiner, Mr. Weldon 
  of Florida, Mr. Weldon of Pennsylvania, Mr. Weller, Mr. Wexler, Mr. 
 Wicker, Ms. Woolsey, Mr. Wu, and Mr. Young of Alaska) introduced the 
 following bill; which was referred to the Committee on International 
  Relations, and in addition to the Committees on Financial Services, 
Ways and Means, and Government Reform, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

                             June 22, 2001

    Reported from the Committee on International Relations with an 
                               amendment
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]

                             June 22, 2001

 Referral to the Committees on Financial Services, Ways and Means, and 
   Government Reform for a period ending not later than July 13, 2001

                             July 13, 2001

 Referral to the Committees on Financial Services, Ways and Means, and 
   Government Reform for a period ending not later than July 16, 2001

                             July 16, 2001

 Additional sponsors: Mr. Bachus, Mr. Baldacci, Ms. Brown of Florida, 
    Mr. Davis of Illinois, Mr. Farr of California, Mr. Meehan, Ms. 
Velazquez, Mr. Chambliss, Mr. Burr of North Carolina, Mr. Calvert, Mr. 
Cramer, Mr. Keller, Mr. Kennedy of Minnesota, Mr. Ross, Mrs. Cubin, Mr. 
 Camp, Mr. Pickering, Mrs. Meek of Florida, Mr. Udall of Colorado, Mr. 
  Deal of Georgia, Mr. Green of Texas, Mr. Larsen of Washington, Mr. 
Matheson, Mr. Clement, Mr. Nussle, Mr. Latham, Mr. Hefley, Ms. DeLauro, 
   Mr. Wolf, Mr. Linder, Mr. Brady of Pennsylvania, Mr. Kildee, Mr. 
    Maloney of Connecticut, Mrs. Mink of Hawaii, Mr. Greenwood, Mr. 
 Abercrombie, Mr. Peterson of Pennsylvania, Mr. Tiahrt, Mr. Upton, Mr. 
 Young of Florida, Mr. Shays, Mr. McIntyre, Mr. Ryan of Wisconsin, Mr. 
        Green of Wisconsin, Mr. Lucas of Kentucky, and Mr. Moore

                             July 16, 2001

     Reported from the Committee on Ways and Means with amendments
 [Strike out all after the enacting clause and insert the part printed 
                           in boldface roman]

                             July 16, 2001

  The Committee on Financial Services and the Committee on Government 
Reform discharged; committed to the Committee of the Whole House on the 
              State of the Union and ordered to be printed

_______________________________________________________________________

                                 A BILL


 
 To extend the authorities of the Iran and Libya Sanctions Act of 1996 
                              until 2006.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

<DELETED>SECTION 1. SHORT TITLE.</DELETED>

<DELETED>    This Act may be cited as the ``ILSA Extension Act of 
2001''.</DELETED>

<DELETED>SEC. 2. EXTENSION OF IRAN AND LIBYA SANCTIONS ACT OF 
              1996.</DELETED>

<DELETED>    Section 13(b) of the Iran and Libya Sanctions Act of 1996 
(50 U.S.C. 1701 note; Public Law 104-172) is amended by striking ``5 
years'' and inserting ``10 years''.</DELETED>

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``ILSA Extension Act of 2001''.

SEC. 2. IMPOSITION OF SANCTIONS WITH RESPECT TO LIBYA.

    (a) In General.--Section 5(b)(2) of the Iran and Libya Sanctions 
Act of 1996 (50 U.S.C. 1701 note; 110 Stat. 1543) is amended by 
striking ``$40,000,000'' each place it appears and inserting 
``$20,000,000''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
apply to investments made on or after June 13, 2001.

SEC. 3. EXTENSION OF IRAN AND LIBYA SANCTIONS ACT OF 1996.

    Section 13(b) of the Iran and Libya Sanctions Act of 1996 (50 
U.S.C. 1701 note; Public Law 104-172) is amended by striking ``5 
years'' and inserting ``10 years''.

SEC. 4. REVISED DEFINITION OF INVESTMENT.

    Section 14(9) of the Iran and Libya Sanctions Act of 1996 (50 
U.S.C. 1701 note; 110 Stat. 1549) is amended by adding at the end the 
following new sentence: ``For purposes of this paragraph, an amendment 
or other modification that is made, on or after June 13, 2001, to an 
agreement or contract shall be treated as the entry of an agreement or 
contract.''.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``ILSA Extension Act of 2001''.

SEC. 2. REPORTS REQUIRED.

    Section 10 of the Iran and Libya Sanctions Act of 1996 (Public Law 
104-172; 50 U.S.C. 1701 note) is amended--
            (1) by redesignating subsection (b) as subsection (c); and
          
def
  (2) by inserting after subsection (a) the following:
    ``(b) Report on Effectiveness of Actions Under This Act.--Not later 
than 18 months after the date of the enactment of the ILSA Extension 
Act of 2001, the President shall transmit to Congress a report that 
describes--
            ``(1) the extent to which actions relating to trade taken 
        pursuant to this Act--
                    ``(A) have been effective in achieving the 
                objectives of section 3 and any other foreign policy or 
                national security objectives of the United States with 
                respect to Iran and Libya; and
                    ``(B) have affected humanitarian interests in Iran 
                and Libya, the country in which the sanctioned person 
                is located, or in other countries; and
            ``(2) the impact of actions relating to trade taken 
        pursuant to this Act on other national security, economic, and 
        foreign policy interests of the United States, including 
        relations with countries friendly to the United States, and on 
        the United States economy.''.

SEC. 3. EXTENSION OF IRAN AND LIBYA SANCTIONS ACT OF 1996.

    Section 13(b) of the Iran and Libya Sanctions Act of 1996 (Public 
Law 104-172; 50 U.S.C. 1701 note) is amended by striking ``5 years'' 
and inserting ``10 years''.

SEC. 4. RESOLUTION TO TERMINATE IRAN AND LIBYA SANCTIONS ACT OF 1996.

    The Iran and Libya Sanctions Act of 1996 (Public Law 104-172; 50 
U.S.C. 1701 note) is amended by inserting after section 13 the 
following:

``SEC. 13A. RESOLUTION TO TERMINATE ACT.

    ``(a) In General.--Notwithstanding section 13(b) of this Act, at 
any time after the date on which the report described in section 10(b) 
is transmitted to Congress, this Act shall cease to be effective if a 
joint resolution described in subsection (b) is enacted into law.
    ``(b) Joint Resolution Described.--For purposes of this section, 
the term `joint resolution' means only a joint resolution of the two 
Houses of Congress, the matter after the resolving clause of which is 
as follows: `That the Iran and Libya Sanctions Act of 1996 (50 U.S.C 
1701 note; Public Law 104-172) shall cease to be effective beginning on 
the date of the enactment of this joint resolution.'.
    ``(c) Procedures in House and Senate.--The provisions of 
subsections (b) through (f) of section 152 of the Trade Act of 1974 
shall apply to a joint resolution described in this section.''.
            Amend the title so as to read: ``A bill to extend the 
        authorities of the Iran and Libya Sanctions Act of 1996 until 
        2006, and for other purposes.''.




                                                  Union Calendar No. 82

107th CONGRESS

  1st Session

                               H. R. 1954

                  [Report No. 107-107, Parts I and II]

_______________________________________________________________________

                                 A BILL

 To extend the authorities of the Iran and Libya Sanctions Act of 1996 
                              until 2006.

_______________________________________________________________________

                             July 16, 2001

     Reported from the Committee on Ways and Means with amendments

                             July 16, 2001

  The Committee on Financial Services and the Committee on Government 
Reform discharged; committed to the Committee of the Whole House on the 
              State of the Union and ordered to be printed

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