Asset Seizure for Ukraine Reconstruction Act
Bill: S.3838 | Sponsor: Sen. Whitehouse, Sheldon (D-RI)
Policy area: International Affairs

Summary:
Asset Seizure for Ukraine Reconstruction Act
This bill authorizes the President to confiscate the property of certain foreign persons (i.e., individuals or entities) that derive wealth through political support for or corruption linked to Russian President Vladimir Putin. The President may also liquidate the confiscated property and use the resulting funds to provide assistance to Ukraine.
Specifically, upon a declaration of a national emergency relating to Russia's invasion of Ukraine, the President may confiscate the property of such a person if (1) the property is valued at more than $2 million; and (2) the person is subject to U.S. sanctions relating to corruption, human rights violations, Russia's malign influence, or conflicts in Ukraine.

To authorize the confiscation of property of certain Russian persons 
 subject to sanctions imposed by the United States and the use of that 
   property for the benefit of the people of Ukraine, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Asset Seizure for Ukraine 
Reconstruction Act''.

SEC. 2. USE OF PROPERTY OF SANCTIONED RUSSIAN PERSONS FOR THE BENEFIT 
              OF THE PEOPLE OF UKRAINE.

    (a) Authorization of Confiscation of Property.--
            (1) In general.--Upon declaring a national emergency under 
        section 201 of the National Emergencies Act (50 U.S.C. 1621) 
        with respect to the engagement of the Russian Federation in a 
        conflict of territorial conquest in Ukraine, the President 
        may--
                    (A) by means of such instructions, licenses, or 
                other regulations as the President determines 
                appropriate, confiscate any funds or other property of 
                any foreign person described in subsection (b)--
                            (i) subject to the jurisdiction of the 
                        United States; and
                            (ii) valued in excess of $2,000,000;
                    (B) liquidate or sell any of such property; and
                    (C) transfer funds confiscated under subparagraph 
                (A) and the proceeds of property liquidated or sold 
                under subparagraph (B) to such agencies or other 
                persons as the President determines appropriate to be 
                used for the purposes described in subsection (c).
            (2) Vesting.--All right, title, and interest in funds and 
        other property confiscated under paragraph (1) shall vest in 
        the Government of the United States.
    (b) Foreign Person Described.--A foreign person described in this 
subsection is a foreign person--
            (1) the wealth of which, according to credible information, 
        is derived in part through corruption linked to or political 
        support for the regime of the President of the Russian 
        Federation, Vladimir Putin; and
            (2) with respect to which the United States has imposed 
        sanctions relating to corruption, human rights violations, the 
        malign influence of the Russian Federation, or conflicts in 
        Ukraine.
    (c) Use of Funds.--Funds confiscated under subparagraph (A) of 
subsection (a)(1) and the proceeds of property liquidated or sold under 
subparagraph (B) of that subsection may be used only for the benefit of 
the people of Ukraine, for the following purposes:
            (1) Post-conflict reconstruction in Ukraine.
            (2) Humanitarian assistance.
            (3) Weapons for the military forces of the elected 
        Government of Ukraine.
            (4) Provisions to support refugees and refugee resettlement 
        in neighboring countries and in the United States.
            (5) The provision of technology items and services to 
        ensure the free flow of information to the Ukrainian people in 
        Ukraine, including items--
                    (A) to counter internet censorship by the 
                Government of the Russian Federation;
                    (B) to circumvent efforts to shut down internet or 
                communication services by that Government; or
                    (C) to bolster cybersecurity capabilities of the 
                elected Government of Ukraine or nongovernmental 
                organizations in Ukraine.
            (6) Humanitarian and development assistance for the people 
        of the Russian Federation, including democracy and human rights 
        programming and monitoring.
    (d) Terms and Conditions.--The President may impose such additional 
terms and conditions as the President determines appropriate with 
respect to the confiscation, liquidation, sale, or transfer of funds 
and other property under subsection (a) and with respect to the use of 
funds under subsection (c).
    (e) Authorization of Rewards.--
            (1) In general.--In the sole discretion of the Secretary of 
        the Treasury and in consultation, as appropriate, with the 
        heads of other relevant Federal agencies, the Secretary may pay 
        a reward to--
                    (A) any individual that furnishes information 
                leading to the confiscation of funds or other property 
                of a foreign person described in subsection (b) that 
                are subject to the jurisdiction of the United States; 
                or
                    (B) any nonprofit humanitarian organization 
                designated by an individual described in subparagraph 
                (A) to receive the reward.
            (2) Nonprofit humanitarian organization defined.--In this 
        subsection, the term ``nonprofit humanitarian organization'' 
        means an organization that--
                    (A) is described in section 501(c) of the Internal 
                Revenue Code of 1986 and exempt from tax under section 
                501(a) of such Code; and
                    (B) engages in humanitarian work.
    (f) Sunset.--The authority provided by subsection (a) shall 
terminate on the date that is 2 years after the date of the enactment 
of this Act.
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