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SHIP Act
12/15/2023, 3:58 PM
Summary of Bill HR 3774
The SHIP Act, also known as Bill 118 hr 3774, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to address issues related to the shipping industry in the United States.
The SHIP Act aims to improve the efficiency and competitiveness of the US shipping industry by providing support and incentives for companies operating in this sector. It includes provisions for funding research and development in the shipping industry, as well as measures to streamline regulations and reduce bureaucratic red tape.
Additionally, the SHIP Act seeks to promote environmental sustainability in the shipping industry by encouraging the use of cleaner and more efficient technologies. This includes provisions for funding and incentives for companies that invest in environmentally friendly practices and technologies. Overall, the SHIP Act is designed to support and strengthen the US shipping industry, while also promoting sustainability and innovation in this important sector of the economy. It is currently being debated in Congress, with supporters arguing that it will help create jobs and boost economic growth, while critics raise concerns about potential costs and unintended consequences.
The SHIP Act aims to improve the efficiency and competitiveness of the US shipping industry by providing support and incentives for companies operating in this sector. It includes provisions for funding research and development in the shipping industry, as well as measures to streamline regulations and reduce bureaucratic red tape.
Additionally, the SHIP Act seeks to promote environmental sustainability in the shipping industry by encouraging the use of cleaner and more efficient technologies. This includes provisions for funding and incentives for companies that invest in environmentally friendly practices and technologies. Overall, the SHIP Act is designed to support and strengthen the US shipping industry, while also promoting sustainability and innovation in this important sector of the economy. It is currently being debated in Congress, with supporters arguing that it will help create jobs and boost economic growth, while critics raise concerns about potential costs and unintended consequences.
Congressional Summary of HR 3774
Stop Harboring Iranian Petroleum Act or the SHIP Act
This bill requires the President to impose visa- and property-blocking sanctions against foreign persons that knowingly transport, process, refine, or otherwise deal in petroleum and petroleum products (including petrochemicals) originating in Iran.
These sanctions also extend to certain foreign persons associated with the sanctioned individual, such as adult family members and any entities owned by the sanctioned individual. (The sanctions do not apply to such adult family members if the President determines they have disassociated themselves from the sanctioned individual and have not assisted in concealing assets.)
The sanctions do not apply to the importation of goods.
Read the Full Bill
Current Status of Bill HR 3774
Bill HR 3774 is currently in the status of Passed in House since November 3, 2023. Bill HR 3774 was introduced during Congress 118 and was introduced to the House on May 31, 2023. Bill HR 3774's most recent activity was Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 240. as of November 7, 2023
Bipartisan Support of Bill HR 3774
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
482Democrat Cosponsors
174Republican Cosponsors
308Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 3774
Primary Policy Focus
International AffairsPotential Impact Areas
- Asia
- China
- Congressional oversight
- Criminal procedure and sentencing
- Foreign property
- Industrial facilities
- Iran
- Middle East
- Navigation, waterways, harbors
- Oil and gas
- Presidents and presidential powers, Vice Presidents
- Sanctions
- Terrorism
- Trade restrictions
- Visas and passports
Alternate Title(s) of Bill HR 3774
SHIP Act
SHIP Act
Stop Harboring Iranian Petroleum Act
SHIP Act
Stop Harboring Iranian Petroleum Act
To impose additional sanctions with respect to the importation or facilitation of the importation of petroleum products from Iran, and for other purposes.
Comments
Sponsors and Cosponsors of HR 3774
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