Iran Counterterrorism Act of 2023

What it does

This bill modifies the authority of the President to waive restrictions on certain U.S. accounts of foreign financial institutions that have facilitated significant financial transactions on behalf of the Central Bank of Iran, certain Iranian financial institutions, or certain Iranian nationals.

Current law authorizes the President to waive these restrictions for national security purposes. Under this bill, the President may also waive the restrictions if the President determines that Iran has ceased to provide support for acts of international terrorism.

The bill also authorizes Congress to enact a joint resolution of disapproval to prevent the President from waiving the restrictions for national security purposes.

Summary by the Congressional Research Service, Nov 9, 2023 (Introduced in House). CRS summarizes bills impartially; it does not take positions.