PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Jun 21, 2016
No Dollars for Ayatollahs Act
This bill amends the Internal Revenue Code to impose an excise tax on any U.S. person who clears or transfers more than $1 million U.S. dollars per year for the direct or indirect benefit of the government of Iran or any Iranian person. The tax is equal to 100% of the amount that is cleared or transferred.
The tax also applies to transactions by certain related entities, including the clearing or transferring of U.S dollars by: (1) a foreign member of a U.S. person's worldwide affiliated group, or (2) a foreign person who is not a member of a U.S. person's worldwide affiliated group, but has a correspondent account or payable-through account for or with such a member or a U.S. person. The tax applies to transactions by a foreign person described above if the member or U.S. person for or with whom the account is maintained knew or had reason to know the dollars were being cleared or transferred.
People & committees
Rep. Roskam, Peter J. [R-IL-6] · R–IL
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.
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