Iran Ballistic Missile Sanctions Act of 2016

[AI summary unavailable — showing source text] Iran Ballistic Missile Sanctions Act of 2016 This bill amends the Iran-Iraq Arms Non-Proliferation Act of 1992 to cover ballistic missile or related technology. The Iran Sanctions Act of 1996 is amended to: (1) extend the Act through December 31, 2031, and (2) require sanctions on Iran and related entities and persons for actions to acquire or develop ballistic missiles and launch technology. The Iran Threat Reduction and Syria Human Rights Act of 2012 is amended to direct the President to report to Congress biannually on: (1) identified persons that have knowingly aided Iran in developing its ballistic missile program, and (2) Iran-North Korea ballistic missile cooperation. The President shall block and prohibit all transactions in property and property interests in the United States of any identified person. An identified person, with certain exceptions, shall be excluded from U.S. entry. The President shall prohibit the opening and prohibit or impose strict conditions on the maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly conducts or facilitates a significant financial transaction for an i…