days after a peace agreement between Azerbaijan 
and Armenia is concluded; and 
(2) to pay for routine expenses incurred in the 
operation of the Fund, including the work of the 
claims processing team described in section 6(a)(2). 
(f) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated to the Fund 
$100,000,000. 
(g) AMOUNTS RETURNED
TO
THE TREASURY.— 
Upon deposit of total amounts into the Fund under sub-
section (d) equal to or exceeding the amount appropriated 
to the Fund by Congress (if any), the Board shall transfer 
to the general fund of the Treasury an amount equal to 
the amount appropriated pursuant to the authorization of 
appropriations under subsection (f). 
(h) REPORT TO CONGRESS.—The Board shall annu-
ally submit to the appropriate congressional committees 
a report on the operation of the Fund for activities in the 
year prior to the submission of the report, including a de-
scription of— 
(1) amounts transferred to the Fund; 
(2) operational expenses of the Fund; and 
(3) disbursement of amounts in the Fund. 
(i) TERMINATION.— 
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(1) IN GENERAL.—The Fund shall terminate on 
the later of— 
(A) the date that is one year after a peace 
agreement between Azerbaijan and Armenia has 
been signed; or 
(B) the date on which each eligible person 
that has submitted an eligible claim for which 
an amount has been determined under section 
6(a)(3) has been paid such amount by the Gov-
ernment of Azerbaijan or the Fund. 
(2) DISPOSITION OF FUNDS.— 
(A) IN GENERAL.—Any amounts remain-
ing in the Fund on the date of termination 
under paragraph (1) shall be returned to the 
Government of Azerbaijan or to the senior offi-
cials from which such amounts originated. 
(B) AMOUNT.—The amount to be provided 
to the Government of Azerbaijan and each offi-
cial described in subparagraph (A) shall be re-
duced on a proportionate basis based on— 
(i) the amount of overall compensa-
tion payments, to be calculated as a pro-
portion of total assets seized and the total 
amount of compensation paid; and 
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(ii) the total operating expenses for 
the Fund 
SEC. 6. SUBMISSION OF REVENUE RECOVERY CLAIMS. 
(a) CLAIM PROCESS FOR RECOVERY OF REVENUE.— 
The Secretary of State shall coordinate with relevant 
countries near Azerbaijan and international organizations 
to establish a streamlined process by which— 
(1) eligible persons shall have the opportunity 
to submit to the Government of Azerbaijan, through 
the Fund’s claims processing team described in 
paragraph (2), eligible claims described in subsection 
(b) beginning on the date that is 90 days after the 
date of the enactment of this Act; 
(2) a claims processing team, to be established 
by the Board and composed to the extent possible of 
former officials of the Government of Artsakh and 
supported 
as 
necessary 
by 
appropriate 
nongovernmetal organizations, shall verify the em-
ployment or the partial or full ownership of the 
property described in each eligible claim submitted 
under paragraph (1) to a reasonable standard 
through attestation that does not require the presen-
tation of an employment contract, an original owner-
ship document, or a deed; 
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(3) the claims processing team described in 
paragraph (2) shall verify or reasonably estimate the 
amount of revenue from the employment or property 
verified under paragraph (2) that the eligible person 
lost as a result of the Azerbaijani military assault in 
September 2023 in Artsakh; 
(4) the Government of Azerbaijan can— 
(A) take receipt of eligible claims that have 
been verified under paragraphs (2) and (3); 
(B) seek clarification with respect to any 
claim that is not related to the validity of the 
claim or the amount of compensation deter-
mined by the claims processing team; and 
(C) pay, within 90 days of receipt of such 
claim, the eligible person that submitted the 
claim, the amount determined under paragraph 
(3); and 
(5) not later than 90 days after the Govern-
ment of Azerbaijan fails to pay any eligible person 
the full amount determined under paragraph (3), 
such eligible person shall be paid such amount from 
the Fund, less any amount paid by the Government 
of Azerbaijan. 
(b) ELIGIBLE CLAIM DESCRIBED.—An eligible claim 
described in this paragraph is a claim for compensation 
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for lost revenue associated with an eligible employment or 
property from the period of September 19, 2023, through 
the date that is 90 days after the conclusion of a peace 
agreement between Azerbaijan and Armenia, including 
proportional compensation for revenue lost from eligible 
property owned by multiple owners, if such property— 
(1) is not irrevocably damaged or destroyed; or 
(2) is irrevocably damaged or destroyed, and— 
(A) such damage or destruction occurred 
in Artsakh as a result of the Azerbaijani mili-
tary assault in September 2023; and 
(B) the owner of such property has not re-
ceived compensation for the loss of the prop-
erty, including compensation from a govern-
ment or from commercial insurance. 
SEC. 7. REPORT TO CONGRESS. 
Not later than 120 days after the date of the enact-
ment of this Act, the President shall submit to the appro-
priate congressional committees a report that includes— 
(1) a list of all Azerbaijani sovereign assets 
subject to sanction under section 4(a)(1); 
(2) a plan for the seizure of such assets and de-
posit of such assets into the Fund; and 
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(3) a plan for establishing the Fund, including 
the actions taken to appoint the initial members of 
the Board. 
SEC. 8. RULES OF CONSTRUCTION. 
(a) PRESIDENTIAL SANCTIONS AUTHORITY.—Noth-
ing in this Act may be construed to limit the authority 
of the President to designate persons for the imposition 
of sanctions pursuant to an Executive order issued under 
the International Emergency Economic Powers Act (50 
U.S.C. 1701 et seq.) or otherwise pursuant to that Act. 
(b) OWNERSHIP OF PROPERTY.—No payment made 
pursuant to this Act, including with respect to damaged 
or destroyed eligible property, may be construed to trans-
fer ownership of such property. 
SEC. 9. DEFINITIONS. 
In this Act: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Foreign Affairs of 
the House of Representatives; and 
(B) the Committee on Foreign Relations of 
the Senate. 
(2) AZERBAIJANI
SOVEREIGN
ASSET.—The 
term ‘‘Azerbaijani sovereign asset’’ means any 
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funds, property, or interest in property owned or 
controlled by— 
(A) the Government of Azerbaijan; or 
(B) a senior official of Azerbaijan. 
(3) ELIGIBLE PERSON.—The term ‘‘eligible per-
son’’ means an individual who— 
(A) is an individual displaced from Artsakh 
as a result of Azerbaijan’s military offensive in 
September 2023; 
(B) is residing in— 
(i) the United States; or 
(ii) Armenia; 
(C) is an individual who— 
(i) had eligible employment for at 
least 30 days from the date of September 
19 2023, in a part-time or full-time posi-
tion in Artsakh, and has lost the revenue 
from that employment; or 
(ii) owns part or all of an eligible 
property, including property subject to a 
debt or lien held by a financial institution 
or other private party; and 
(D) has lost revenue from eligible property 
and has not received compensation for such lost 
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revenue, other than compensation from the 
Fund. 
(4) ELIGIBLE EMPLOYMENT.—The term ‘‘eligi-
ble employment’’ means a job, either part-time or 
full-time, that provided a payment for work per-
formed as a condition of the job, and for which the 
employer is no longer in possession of the means to 
continue carrying out its government functions or 
business operations in Artsakh, including— 
(A) all forms of employed work in manu-
facturing, professional services, hospitality in-
dustry, food services, agriculture, and govern-
ment, which resulted in the payment of income 
taxes to the Republic of Artsakh; and 
(B) all forms of fixed-benefit retirement 
pensions, including from previous employment 
with the government, military, or private sector 
in Artsakh. 
(5) ELIGIBLE PROPERTY.—The term ‘‘eligible 
property’’ means physical property that was used to 
generate revenue in Artsakh prior to September 19, 
2023, including the following: 
(A) Land used for farming or generating 
rental income. 
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(B) Buildings used by businesses for man-
ufacturing or other services. 
(C) Vehicles used by businesses for trans-
portation of goods or completion of services. 
(D) Tools and special equipment used by 
businesses for manufacturing or the completion 
of services. 
(E) Livestock and other animals used by 
farmers or businesses. 
(6) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial institution’’ has the meaning given that term 
in section 5312 of title 31, Code of Federal Regula-
tions. 
(7) IMMEDIATE
FAMILY
MEMBER.—The term 
‘‘immediate family member’’ means, with respect to 
an individual, a spouse, child, parent, or sibling of 
such individual. 
(8) REVENUE.—The term ‘‘revenue’’ means the 
total amount of income generated by the sale of 
goods or services. 
(9) SENIOR
OFFICIAL
OF
AZERBAIJAN.—The 
term ‘‘senior official of Azerbaijan’’ means an indi-
vidual who, at any time between December 1, 2022, 
and the date Azerbaijan and Armenia conclude a 
peace agreement, has occupied in the Government of 
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Azerbaijan one of the following positions or an 
equivalent position: 
(A) President. 
(B) Vice President. 
(C) Head of the Administration. 
(D) Assistant to the President. 
(E) Head of the Secretariat of the First 
Vice-President. 
(F) Press Secretary of the President. 
(G) Chief of the Protocol Service of the 
President. 
(H) The head of any department. 
(I) Plenipotentiary Representative of the 
President in the Nakhchivan Autonomous Re-
public. 
(J) Special Representative of the President 
in the Shusha district. 
(K) An officer of the military of Azerbaijan 
at the rank of General, Colonel General, or Ad-
miral, or any other military officer implicated in 
war crimes against the former residents of 
Artsakh. 
(L) An official of the Government of Azer-
baijan determined by the Department of State 
to have had substantial influence in the plan-
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ning or execution of the attack of September 
19, 2023, on the Republic of Artsakh. 
(10) UNITED
STATES
FINANCIAL
INSTITU-
TION.—The term ‘‘United States financial institu-
tion’’ has the meaning given that term in section 
561.309 of title 15, Code of Federal Regulations. 
Æ 
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