; and (2) by adding at the end the following: (2) Treatment of certain transactions (A) U-Turn transactions Property that comes within the possession or control of a United States person pursuant to a transfer of funds that arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction shall be considered to come within the possession or control of that person for purposes of paragraph (1). (B) Book transfers A transfer of funds or other property for the benefit of an Iranian financial institution that is made between accounts of the same financial institution shall be considered property or interests in property of that Iranian financial institution for purposes of paragraph (1) even if that Iranian financial institution is not the direct recipient of the transfer. . V Miscellaneous 501. Modification of requirements relating to state sponsors of terrorism (a) Requirement To comply with all provisions of law relating to state sponsors of terrorism In making a determination to rescind the designation of a country as a state sponsor of terrorism, the President shall comply with all requirements under this Act, section 620A of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2371 ), section 40 of the Arms Export Control Act ( 22 U.S.C. 2780 ), section 6(j) of the Export Administration Act of 1979 ( 50 U.S.C. 4605(j) ) (as in effect pursuant to the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq.)), and any other provision of law relating to countries the governments of which provide support for acts of international terrorism, with respect to the rescission. (b) Additional requirements for removal (1) In general Not later than 15 days before the President submits to Congress a report under section 620A(c) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2371(c) ), section 40(f) of the Arms Export Control Act ( 22 U.S.C. 2780(f) ), or section 6(j) of the Export Administration Act of 1979 ( 50 U.S.C. 4605(j) ) (as in effect pursuant to the International Emergency