This bill authorize the President to sanction entities in which the Iranian Revolutionary Guard Corps holds a stake of less than 50%. IRGC has been listed on the Specially Designated Nationals And Blocked Persons List (SDN) for a long time. As a result, all subsidiaries are currently sanctioned if they hold a stake of more than 50%. The Bill also seeks to prevent Iran's membership of the WTO and similar international bodies.
Currently, the Bill has been referred to 5 Committees: Foreign Affairs; Oversight and Government Reform; Judiciary; Financial Services; and Ways and Means.