“ Subsequent Renewal of Waiver.—If the President determines that, in accordance with paragraph (1) , such a waiver is appropriate, the President may, at the conclusion of the period of a waiver under paragraph (1) , renew such waiver for subsequent periods of not more than six months each. ́ ́. ”

“ Section 8 (a) of the Iran and Libya Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended— (1) in paragraph (1) (C) , by striking ``and ́ ́ at the end; (2) in paragraph (2) , by striking the period at the end and inserting ``; and ́ ́; and (3) by adding at the end the following new paragraph:
`` (3) poses no significant threat to United States national security, interests, or allies. ́ ́. Sec. 204. Sunset. Section 13 of the Iran and Libya Sanctions Act of 1996 (50 U.S.C. 1701 note) is amended by striking ``on September 29, 2006 ́ ́ and inserting ``on December 31, 2011 ́ ́. ”