Repurposing Elite Luxuries Into Emergency Funds for Ukraine Act

To provide for the use of seized Russian assets to provide support to citizens of Ukraine who have been made refugees as a result of the illegal invasion of Ukraine by the Russian Federation, and for other purposes. 1. Short title This Act may be cited as the Repurposing Elite Luxuries Into Emergency Funds for Ukraine Act 2. Use of seized Russian assets to support Ukrainian refugees (a) Deposit of proceeds of seized assets Notwithstanding section 524(c) of title 28, United States Code, or any other provision of law, the Attorney General shall deposit all proceeds resulting from the liquidation of assets seized as a result of actions taken by the Task Force KleptoCapture, as announced by the Attorney General on March 2, 2022, into the Ukrainian Relief Fund established under subsection (b). (b) Ukrainian Relief Fund (1) Establishment The Secretary of the Treasury shall establish an account, to be known as the Ukrainian Relief Fund (A) to the Secretary of State for use, in consultation with the Administrator of the United States Agency for International Development, as specified in paragraph (2); and (B) to the Attorney General for administrative costs relating to the seizure and liquidation of assets through the Task Force KleptoCapture. (2) Use of funds to support Ukrainian refugees Amounts in the Ukrainian Relief Fund shall be available to provide support to the people of Ukraine following the illegal invasion of Ukraine by the Russian Federation, including— (A) to promote the security, safety, health, well-being, and resettlement of Ukrainian refugees; (B) to support international or nonprofit organizations engaged in direct efforts to support Ukrainian refugees; (C) to support the reconstruction, rehabilitation, and general recovery of Ukraine in areas no longer controlled by the Russian Federation, as certified by the Secretary of State; and (D) through such other manner as the Secretary considers appropriate to promote the security, welfare, and dignity of Ukrainian refugees, the recovery of the economy of Ukraine, and the general welfare of the people of Ukraine. (c) Report required Not later than 180 days after the date of the enactment of this Act, and on an ongoing basis thereafter, the Attorney General, the Secretary of State, and the Administrator of the United States Agency for International Development shall jointly report to Congress on— (1) assets seized and liquidated as described in subsection (a) and deposited into the Ukrainian Relief Fund established under subsection (b); and (2) the use of amounts in the Ukrainian Relief Fund to support Ukrainian refugees and the reconstruction of Ukraine.

Summary: Repurposing Elite Luxuries Into Emergency Funds for Ukraine Act This bill establishes the Ukrainian Relief Fund, which shall be available, subject to appropriations, to provide assistance to Ukraine and Ukrainian refugees. The Department of Justice shall deposit into the fund all proceeds resulting from the liquidation of assets seized by an interagency law enforcement task force established to enforce sanctions imposed in response to Russia's invasion of Ukraine.