This bill ensures that economic sanctions against Iraq remain in place even if the national emergency declared by President Bush in 2003 is formally ended. Specifically, it prevents individuals and entities on the Treasury Department's list of blocked Iraqi nationals and organizations from being automatically removed from that list or having their sanctions lifted simply because the underlying emergency declaration expires. The legislation applies to sanctions imposed under two Treasury programs related to Iraq, known as IRAQ2 and IRAQ3, which target certain people and organizations. The bill does not authorize new sanctions or provide funding, but rather acts as a safeguard to preserve existing sanctions authority. No specific timeline is mentioned beyond stating the provision takes effect when the bill becomes law.