PANA Act
Bill: S.1417 | Sponsor: Sen. Cruz, Ted (R-TX)
Policy area: International Affairs

Summary:
Preserving Accountability for National Assets Act of 2021 or the PANA Act
This bill establishes the Venezuela Restoration Fund to strengthen democratic governance and institutions, defend human rights, support independent media outlets, and combat corruption and improve transparency in Venezuela.
Any funds or assets forfeited to the United States by an individual or entity connected to the regimes of Hugo Chávez and Nicolás Maduro in Venezuela will be deposited into this fund.

To establish a Venezuela Reconstruction Fund, 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 ``Preserving Accountability for 
National Assets Act of 2021'' or the ``PANA Act''.

SEC. 2. VENEZUELA RESTORATION FUND.

    (a) Establishment.--There is established in the United States 
Treasury a fund, to be known as the ``Venezuela Restoration Fund'', 
which shall consist of amounts deposited in the Fund under subsection 
(c).
    (b) Uses.--Amounts in the Fund--
            (1) shall be available to the Secretary of State only for 
        the purposes described in paragraph (2), without fiscal year 
        limitation or need for subsequent appropriation;
            (2) shall be used only for the purposes of--
                    (A) strengthening democratic governance and 
                institutions, including the democratically elected 
                National Assembly of Venezuela;
                    (B) defending internationally recognized human 
                rights for the people of Venezuela, including support 
                for efforts to document crimes against humanity and 
                violations of human rights;
                    (C) supporting the efforts of independent media 
                outlets to broadcast, distribute, and share information 
                beyond the limited channels made available by the 
                Maduro regime; and
                    (D) combatting corruption and improving the 
                transparency and accountability of institutions that 
                are part of the Maduro regime;
            (3) may support governmental and nongovernmental parties in 
        advancing the purposes described in paragraph (2); and
            (4) shall be allocated in a manner complementary to 
        existing United States foreign assistance, diplomacy, and anti-
        corruption activities.
    (c) Funding.--Beginning on or after the date of the enactment of 
this Act, notwithstanding any other provision of law, in the case of 
any funds or assets forfeited to the United States by an individual or 
entity connected to the regimes of Hugo Chavez and Nicolas Maduro in 
Venezuela, the funds or assets will be deposited in the Venezuela 
Reconstruction Fund established under subsection (a).
    (d) Reporting.--Not later than 1 year after the date of the 
enactment of this Act and not less frequently than annually thereafter, 
the Secretary of State shall submit a report to the appropriate 
congressional committees that includes--
            (1) an accounting of the amount and sources of funds that 
        have been deposited into the Venezuela Restoration Fund; and
            (2) a summary of the obligation, amounts, and expenditure 
        of such funds.
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