Bill Summary
This is a bill that aims to make additional financial assets of the Government of Iran available to pay compensatory damages to victims of terrorism sponsored by that government. This bill is also intended to address the threat of terrorism sponsored by Iran to the national security of the United States. It amends a previous law to expand the availability of financial assets of Iran to victims of terrorism, allowing for these assets to be used to pay for damages and ensuring justice for members of the Armed Forces and their families who were killed or injured by such terrorism. The bill also grants the United States District Court for the Southern District of New York personal jurisdiction over any foreign securities intermediary that credited financial assets to an account held outside of the United States.
Possible Impacts
1. The victims of the 1983 Beirut bombing carried out by terrorists sponsored by the Government of Iran may now have access to additional financial assets to seek compensation for their injuries and losses.
2. The United States government may use this legislation to target and seize financial assets of the Government of Iran in order to pay damages to victims of terrorism.
3. Foreign securities intermediaries who have credited financial assets to an account outside of the United States may now be subject to personal jurisdiction in the United States District Court for the Southern District of New York.
[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 1529 Introduced in Senate (IS)]
<DOC>
116th CONGRESS
1st Session
S. 1529
To make additional financial assets of the Government of Iran available
to pay compensatory damages to the victims of terrorism sponsored by
that Government, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 16, 2019
Mr. Cotton (for himself, Mr. Whitehouse, Mr. Inhofe, Mr. Cornyn, Mr.
Rubio, Mr. Jones, Mr. Cruz, Ms. Rosen, and Mr. Isakson) introduced the
following bill; which was read twice and referred to the Committee on
Foreign Relations
_______________________________________________________________________
A BILL
To make additional financial assets of the Government of Iran available
to pay compensatory damages to the victims of terrorism sponsored by
that Government, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Supporting Victims of Iranian
Terrorism Act of 2019''.
SEC. 2. EXPANSION OF AVAILABILITY OF FINANCIAL ASSETS OF IRAN TO
VICTIMS OF TERRORISM.
(a) Findings.--Congress makes the following findings:
(1) On October 23, 1983, terrorists sponsored by the
Government of Iran bombed the United States Marine barracks in
Beirut, Lebanon. The terrorists killed 241 servicemen and
injured scores more.
(2) Those servicemen were killed or injured while on a
peacekeeping mission.
(3) Terrorism sponsored by the Government of Iran threatens
the national security of the United States.
(4) The United States has a vital interest in ensuring that
members of the Armed Forces killed or injured by such
terrorism, and the family members of such members, are able to
seek justice.
(b) Amendments.--Section 502 of the Iran Threat Reduction and Syria
Human Rights Act of 2012 (22 U.S.C. 8772) is amended--
(1) in subsection (a)(1)--
(A) in subparagraph (A), by striking ``in the
United States'' and inserting ``by or'';
(B) in subparagraph (B), by inserting ``, or an
asset that would be blocked if the asset were located
in the United States,'' after ``unblocked)''; and
(C) in the flush text at the end--
(i) by inserting after ``in aid of
execution'' the following: ``, or to an order
directing that the asset be brought to the
State in which the court is located and
subsequently to execution or attachment in aid
of execution,''; and
(ii) by inserting ``, without regard to
concerns relating to international comity''
after ``resources for such an act'';
(2) in subsection (b)--
(A) by striking ``that are identified'' and
inserting the following: ``that are--
``(1) identified'';
(B) by striking the period at the end and inserting
``; and''; and
(C) by adding at the end the following:
``(2) identified in and the subject of proceedings in the
United States District Court for the Southern District of New
York in Peterson et al. v. Islamic Republic of Iran et al.,
Case No. 13 Civ. 9195 (LAP).'';
(3) by striking subsection (e);
(4) by redesignating subsections (c) and (d) as subsections
(d) and (e), respectively; and
(5) by inserting after subsection (b) the following:
``(c) Personal Jurisdiction.--For purposes of this section, the
United States District Court for the Southern District of New York
shall have personal jurisdiction over any foreign securities
intermediary that credited financial assets described in subsection (b)
to an account the intermediary holds outside the United States.''.
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