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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Senate Committee on Banking, Housing, and Urban Affairs
    IntroducedMay 18th, 2009

Bill Details

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Title

Iran Sanctions Enabling Act of 2009

Official Title

A bill to authorize State and local governments to direct divestiture from, and prevent investment in, companies with investments of $20,000,000 or more in Iran's energy sector, and for other purposes.

Summary

Iran Sanctions Enabling Act of 2009 - States that 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 that have investments of $20 million or more in Iran's energy sector. Authorizes a state or local government to adopt and enforce measures to divest its assets from, or prohibit the investment of assets they control in, such persons, including financial institutions which extend them credit to so invest. 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 such persons. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to shield from treatment as breaching a fiduciary duty any person divesting employee benefit plan assets from, or avoiding investing plan assets in, such persons.