; and (B) ending on the date such report is submitted; and (2) for the second or a subsequent report, the period— (A) beginning on the date the preceding report was submitted; and (B) ending on the date such second or subsequent report is submitted. (c) Designation of persons as foreign terrorist organizations (1) In general The President shall designate any person identified in a report submitted under subsection (a) as a foreign terrorist organization under section 219 of the Immigration and Naturalization Act ( 8 U.S.C. 1189 ). (2) Revocation The President may not revoke a designation made under paragraph (1) until the date that is 4 years after the date of such designation. (d) Waiver The Secretary of State may waive the requirements of this section upon a determination and certification to the appropriate congressional committees that such a waiver is in the vital national security interests of the United States. (e) Sunset This section shall terminate on the date that is 4 years after the date of the enactment of this division. (f) Iranian person defined In this section, the term Iranian person — (1) means an entity organized under the laws of Iran or otherwise subject to the jurisdiction of the Government of Iran; and (2) includes the Islamic Revolutionary Guard Corps. 7. Definitions In this division: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Foreign Affairs, the Committee on Financial Services, and the Committee on the Judiciary of the House of Representatives; and (B) the Committee on Foreign Relations, the Committee on the Judiciary, and the Committee on Banking, Housing, and Urban Affairs of the Senate. (2) Foreign person The term foreign person — (A) means an individual or entity that is not a United States person