(A) by striking ‘‘The court, in imposing
sentence on such person’’ and inserting the fol-
lowing:
‘‘(B) The court, in imposing sentence on a per-
son described in subparagraph (A)’’; and
(B) by striking ‘‘this subparagraph’’ and
inserting ‘‘that subparagraph’’.
SEC. 19. ENHANCED VISIBILITY OF THE ASSET FORFEITURE
PROGRAM.
Section 524(c)(6) of title 28, United States Code, is
amended to read as follows:
‘‘(6)(A) The Attorney General shall transmit to Con-
gress and make available to the public, not later than 4
months after the end of each fiscal year, detailed reports
for the prior fiscal year as follows:
‘‘(i) A report on total deposits to the Fund by
State of deposit.
‘‘(ii) A report on total expenses paid from the
Fund, by category of expense and recipient agency,
including equitable sharing payments.
‘‘(iii) A report describing the number, value, and
types of properties placed into official use by Federal
agencies, by recipient agency.
‘‘(iv) A report describing the number, value, and
types of properties transferred to State and local law
enforcement agencies, by recipient agency.
‘‘(v) A report, by type of disposition, describing
the number, value, and types of forfeited property dis-
posed of during the year.
‘‘(vi) A report on the year-end inventory of prop-
erty under seizure, but not yet forfeited, that reflects
the type of property, its estimated value, and the esti-
mated value of liens and mortgages outstanding on
the property.
‘‘(vii) A report listing each property in the year-
end inventory, not yet forfeited, with an outstanding
equity of not less than $1,000,000.
‘‘(B) The Attorney General shall transmit to Congress
and make available to the public, not later than 2 months
after final issuance, the audited financial statements for
each fiscal year for the Fund.
‘‘(C) Reports under subparagraph (A) shall include in-
formation with respect to all forfeitures under any law en-
forced or administered by the Department of Justice.
‘‘(D) The transmittal and publication requirements in
subparagraphs (A) and (B) may be satisfied by—
‘‘(i) posting the reports on an Internet website
maintained by the Department of Justice for a period
of not less than 2 years; and
‘‘(ii) notifying the Committees on the Judiciary
of the House of Representatives and the Senate when
the reports are available electronically.’’.
SEC. 20. PROCEEDS.
(a) 
FORFEITURE
OF
PROCEEDS.—Section
981(a)(1)(C) of title 18, United States Code, is amended
by striking ‘‘or a violation of section 1341’’ and all that
follows and inserting ‘‘or any offense constituting ‘specified
unlawful activity’ (as defined in section 1956(c)(7) of this
title), or a conspiracy to commit such offense.’’.
(b) DEFINITION
OF PROCEEDS.—Section 981(a) of
title 18, United States Code, is amended by adding at the
end the following:
‘‘(2) For purposes of paragraph (1), the term ‘proceeds’
is defined as follows:
‘‘(A) In cases involving illegal goods, illegal serv-
ices, unlawful activities, and telemarketing and health
care fraud schemes, the term ‘proceeds’ means prop-
erty of any kind obtained directly or indirectly, as
the result of the commission of the offense giving rise
to forfeiture, and any property traceable thereto, and
is not limited to the net gain or profit realized from
the offense.
‘‘(B) In cases involving lawful goods or lawful
services that are sold or provided in an illegal man-
ner, the term ‘proceeds’ means the amount of money
acquired through the illegal transactions resulting in
the forfeiture, less the direct costs incurred in pro-
viding the goods or services. The claimant shall have
the burden of proof with respect to the issue of direct
costs. The direct costs shall not include any part of
the overhead expenses of the entity providing the
goods or services, or any part of the income taxes
paid by the entity.
‘‘(C) In cases involving fraud in the process of
obtaining a loan or extension of credit, the court shall
allow the claimant a deduction from the forfeiture to
the extent that the loan was repaid, or the debt was
satisfied, without any financial loss to the victim.’’.
SEC. 21. EFFECTIVE DATE.
Except as provided in section 14(c), this Act and the
amendments made by this Act shall apply to any forfeiture
proceeding commenced on or after the date that is 120 days
after the date of enactment of this Act.