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Quarantining the Ayatollah's State-Sponsored Aggression and Militancy (QASSAM) Act This bill directs the President to block all property and property interest transactions of an entity that is U.S-located or controlled by a U.S. person if it is at least 20% owned by Iran's Revolutionary Guard Corps (IRGC), regardless of whether the entity itself is included on the list of specially designated nationals and blocked persons maintained by the Department of the Treasury Office of Foreign Assets Control. Treasury shall establish and publish in the Federal Register a list of each entity with respect to which the IRGC: owns any interest that is less than 20%; or does not own any interest but maintains a presence on the board of directors or otherwise influences the entity's actions, policies, or personnel decisions. The Iran Threat Reduction and Syria Human Rights Act of 2012 is amended to express the sense of Congress that the United States should support any state or local government that for moral, prudential, or reputational reasons divests from, or prohibits the investment of its assets in, any person that engages in investment or business activities with the IRGC or IRGC-related companies, as long as the IRGC is subject to U.S. economic sanctions. A state or local government may adopt and enforce specified divestment or investment prohibition measures. It is the sense of Congress that a state or local government should not adopt such a measure against a person unless it has made every effort to avoid erroneously targeting such person.

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