Congress: 110 · Status: active · Israel/Palestine classification: pro-Israel
Data (JSON) — machine-readable record of this bill (identifiers, sponsor, classification, actions, and the member-by-member vote breakdown).
Official record on Congress.gov — full text, actions, and cosponsor history for S 1430.
Sponsor: Obama, Barack (D-IL)
Iran Sanctions Enabling Act of 2007 - Directs the Secretary of the Treasury to: (1) publish biannually in the Federal Register a list of each person, whether within or outside of the United States, that has an investment of more than $20 million in the energy sector in Iran; and (2) maintain on the website of the Department of the Treasury the names of the persons on such list. States it is the policy of the United States to support the decision of state and local governments and educational institutions to divest from, and to prohibit the investment of assets they control in, persons included on the most recent list. Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit investment of assets in, persons included on the most recent list. Amends the Investment Company Act of 1940 to shield any registered investment company from civil, criminal, or administrative action based upon its divesting from, or avoiding investing in, securities issued by companies included on such most recent list. Amends the Employee Retirement Income Security Act of 1974 to shield from treatment as breaching a fiduciary duty any person divesting plan assets from, or avoiding investing plan assets in, persons included on such most recent list. Expresses the sense of the Congress that the Federal Retirement Thrift Investment Board should: (1) initiate efforts to provide a terror-free international investment option among the funds of the Thrift Savings Fund; and (2) initiate similar efforts to provide a genocide-free international investment option.
Requires the Treasury Department to publish and maintain a list of foreign and domestic investors with over $20 million in Iran's energy sector. Allows U.S. states, local governments, and educational institutions to divest from companies on that list without legal penalty. Protects investment funds and retirement plans (including federal employee pensions) from lawsuits if they divest from listed companies. Calls on the federal retirement board to create investment options that exclude companies tied to terrorism or genocide.
This legislation creates a legal framework for coordinated economic pressure on Iran through investment restrictions, while shielding American entities from legal risk if they participate in such divestment campaigns. The structure parallels divestment campaigns targeting other countries and entities, making it relevant to how Congress uses investment policy as a geopolitical tool.